HASS09 Economics - Introduction: Key Participants

When looking at what makes an economy grow in the long run, it is imperative to begin by examining how output is created

The successful operation of a modern economy is based on a significant majority of adult citizens earning the income they need to survive through the work they do. It is those in the labour force who produce the goods and services which comprise the modern economy. These workers also generate the majority of taxation income that allows Governments to play their economic role, including providing income to many of those who don’t work.