The basic facts of economics

A common-sense primer presenting the basic principles and structure of economic thought for advanced students. It defines economics in relation to money as a measuring instrument, then examines money, trade, and the core facts that underlie market activity. It analyzes the productive process by distinguishing human, natural, and manufactured factors and treats secondary categories such as capital, utility, price, banks, and balances of trade. It explains distributional claims including wages, rent, and trade earnings, and concludes with a review and questions to reinforce classification, clear observation, and applied reasoning.