Economy is very much present in my life and I think everyone's life. The car my parents drive me into school, the clothes I wear everyday, the water bottle on my desk, and my desk is all part of economy.
First all these products have to be made, probably in a factory which is production. Some of my shirts are from places other than the US places like China. The made in tag on the back of my shirt tells me where that shirt was produced.
If the tag says made in China well how did that shirt get all the way from China to my closet? This is distribution, that shirt may have been brought to the U.S.A. on a big cargo ship or on a airplane. Then that shirt mostly likely would of been loaded on a big 18 wheeler to my local store which explains the big trucks on the highway.
Finally I bought that shirt at the my local store so I could wear it which is consumption. Every object you own is evidence of consumption the food you buy at the supermarket, the clock hanging on the wall, and the house I live in is all evidence of consumption.
All the objects I buy for use are goods but there are different things I buy that aren’t goods these are services.
There are a lot of service jobs people do that you pay them for. Doctors who help me stay healthy and the housekeeper that comes to clean my house every other Tuesday are service jobs. People with service jobs do services for other people so they don’t have to for money. Economy is in my life everyday and economy is a part of life.