ABSTRACT
The general task of organizing the economic activity of society may be divided into a number of fundamental functions. The problem of standards or values occupies a key position in Economics. The practical objective of economics, it must be kept in mind, is that of improving the social organization and increasing its efficiency. The principal forms of economic progress include, first, growth of population and any cumulative change in its composition or education which affects either its productive powers or its wants. Second, the accumulation of material aids to production or "capital" of all kinds, including such permanent sources of satisfaction as newly discovered natural resources and also works of art. The Five Main Functions of an Economic System: the function of fixing standards; the notion of efficiency, the function of organizing production, the function of distribution, economic maintenance and progress and to adjust consumption to production within very short periods.
