1.3 Society and the economy

Our economies are embedded in society. Human relationships shape economic systems, and economic systems impact the way we relate to one another and the rest of the living world.

We cannot understand the economy without understanding our complex human nature, values and needs as well as the systems and institutions we have created to organise ourselves to care for ourselves and others. This subtopic introduces you to some key understandings about the relationship between society and the economy.

At the end of this Subtopic 1.3 Society and the economy, you should be able to: