Economics

(oikonomia) (oikos house) (nomos custom or law)

Rules or management of a household.
1. Medley of government and private sector
Manifestations
Ergo
Democracy
Autocracy
2. Rivalry
3. Excludability
Rivalrous excludable business:(private goods)
food,clothing,cars,personal electronics
Non-Rivalrous excludable business:(club goods)
Cinemas,private parks,satellite television
Rivalrous non-excludable business:(common goods)
Fish stocks, timber,coal
Non-Rivalrous non-excludable business:(public goods)
Free-to-air television,air,national defense
Natural monopoly
Externalities
Where does govt undertake economic activity:
Where there are public goods/natural monopoloies/externalities..etc.