Making choices how and in the future or over a certain period of time over limited or scarce production resources regarding what goods to produce , how much of each of the goods to produce ,for whom the goods are to be produced ,and which among the goods are to be consumed.
According to Roger Le Roy Miller (1998), the author of Economics, today and tomorrow says “Economics concerns situations in which choices must be made about how to use limited resources, when to use them and for what purposes”.
According to the Theory of Change is nothing new. It is not just a donor fad or yet another hoop to jump through. It is an ongoing process of reflection to explore change and how it happens in our context. Yet it can provide a very powerful learning lens which makes us ask ourselves and others simple but important questions about what we are doing and why. By focusing attention on the lasting changes we aim to bring, and reflecting on what really contributes to those kinds of changes, it can help us step out of ‘project activity’ mode, question our assumptions, and focus on what really matters. It enables us to learn from others, build a common understanding of our work and develop clarity in our strategies and partnerships. It provides a clear framework for learning, monitoring and evaluation.
The theory of socialism advocates collective or government ownership and administration of the means of production and distribution of goods. Socialism is a stage advocated by Karl Max