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Economies and Needs

In: Principles of Management

Author

Listed:
  • Peter Eichhorn

    (OPINIO Forschungsinstitut)

  • Ian Towers

    (SRH Hochschule Berlin)

Abstract

The chapter discusses the relationships between needs and the supply of the tangible and intangible goods that can satisfy these needs. A shortage of resources is confronted with an unlimited number of needs, which means that choices have to be made. EfficiencyEfficiency and effectivenessEffectiveness in the use of limited resources is shown to be necessary. The various types of need are identified, categorised and described. After presenting mechanisms for determining needs, the chapter goes on to identify, categorise and describe the various types of goodsGoods types and ways in which demandDemand can be managed. Attention is paid to public tasksPublic tasks and ways in which they can be executed are outlined. The different economic systemsEconomic system (market and planned) are described and the economic constitution is presented—the components are the stateState , the legal systemLegal system , and the social and ecological orders.

Suggested Citation

  • Peter Eichhorn & Ian Towers, 2018. "Economies and Needs," Springer Texts in Business and Economics, in: Principles of Management, chapter 2, pages 35-62, Springer.
  • Handle: RePEc:spr:sptchp:978-3-319-70902-4_2
    DOI: 10.1007/978-3-319-70902-4_2
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