What is the key concept for this section? Define economics and describe three basic types of economic systems. Describe the interactions among supply, demand, and market prices in a market economic...

What is the key concept for this section? Define economics and describe three basic types of economic systems. Describe the interactions among supply, demand, and market prices in a market economic system. Explain why a truly free-market economy rarely exists in today’s capitalist market systems. What are subsidies? Distinguish among natural capital, human capital, and manufactured capital.