In Economics, there are many policies and goals that are designed to fill the unlimited wants of society with the limited resources that our economy contains. The first economic goal is Economic Growth which is the expanding of the economy by producing more and consuming more therefore making a better life for society. The second economic goal is Full Employment, meaing that everyone that can be working is working, and the economy is providing suitable jobs for people those people. Economic Efficiency works to achieve the maximum satisfaction for the wants and needs of society, despite the limited resources. Price-level stability is the economic way of escaping large price wavers, by avoiding inflation and deflation.
Shows that if the economy started at the inner most curve economic growth would be represented by the outer curves
Shows that if the economy started at the inner most curve economic growth would be represented by the outer curves

In the Economy there is a concept called Economic Freedom which guarantees businesses, workers and consumers the freedom to buy, sell and distribute whatever they want. Market Economies consider their policies to give a high level of freedom to the consumers and producers activities. Another goal is Equitable Distibution of Income, that ensures that no group of citizens lives in poverty while most others enjoy the goods and services provided. Economic Securtiy also provides for those with illness, disabilities, and unable to earn minimal levels of income. These goals help to create a balance in the social economy and distribution of wealth. Balance of trade is the final economic goal. It strives for a balance among other world economies, in relation to international trade and financial transactions.

This picture shows that in a fully employed economy every one who wants a job has one
This picture shows that in a fully employed economy every one who wants a job has one
























Sample Question:
Which one of these is NOT an economic goal:
a) Economic growth
b) Price-level stability
c) Minimizing cost
d) Full employment


Links:

http://www.sbea.mtu.edu/jrgale/EC3001/ECONOMICGOALS.htm
http://en.wikipedia.org/wiki/Economic_growth

http://www.businessdictionary.com/definition/economic-efficiency.html














Study Question answer:
c); This is part of economic efficiency, but requires more than just the minimizing of costs.