Economics In Action

The manager of Quality Parts Company is considering introducing an automatic ordering system to keep inventory management and "slipping". She also feels that working two days in front of a workstation motivates workers to produce at the fastest speed. Furthermore, she is considering establishing a reworking line to speed up repair. She is satisfied with the most facilities and the high utilization of the labor, but I am worried about the idle time of the milling machine.

For Aristotle, the main meaning of economics is to use what is necessary for a better life. In addition, he considers economics as practical science and regards it as the ability to acquire the habit of accelerating behavior. Economics is a cautious or practical knowledge to help people get and use what they need to live properly. Economics is taking an effective action as the end of practical science. Aristotle explained on the ontology that the manipulation of the real economic aspects is inseparable from the moral and political realm. Economic factors and actual behavior in other fields related to actors. Different fields continuously and dynamically interact

Aristotle explained that actions are inevitable and are basically unified. For Aristotle, the individual behavior of wealthy people constitutes an economic aspect. The purpose of economic action is to use what is necessary for life (ie survival) and good life (ie prosperity). A good life is a moral life where people are happy. Human behavior is voluntary and intentional, so actions require internal psychological behavior that has been considered and chosen in advance. Humans try to achieve their perfection through behavior. Aristotle believed that mankind has the ability to relate to its dual material and spiritual qualities. The economic field is the intersection of the physical and psychological aspects of human beings.

Economics with emphasis on economy is related to human behavior. Most economic models are based on the assumption that humans behave in a reasonable way and seek the best profit or utility level. But, of course, human actions can be unpredictable or contradictory, and they are based on individual subjective values ​​(economic theory is often not another reason for empirical testing). This means that some economic models may not be realized or implemented, or that they may not be realized in the real world.