Economics
The government runs the economy of the country
A government would ask for taxes from its citizens so that it can run the economy
Finance is the management of big amounts of money that is usually managed by the government.
Money has a big role in economics because money can be traded for any goods a country might need
The word economics comes from the word economy
The branch of Knowledge concerned with the production, consumption and transfer of wealth
The condition of a region or group as regards material prosperity
Trade is important in Economics because it is a way that you get any scarce resources that you need
Money
Selling
Trading
Buying
Income
Taxes
Currency
Important Words
Prioritizing
Allocating
Opportunity Cost
Service
Demands
Wants
Needs
Savings
Needs
A need is something that you really need in order to survive
Examples are: Medical treatement, food, water, shelter, etc.
Wants
A want is something that you really want to have, usually for entertainment but do not need to survive
Examples are: T.V, video games, junk food, fancy food, beauty products, etc.