In classical and neoclassical economic theory, markets are at the center of the

stage. The actors in these markets are workers and consumers (sometimes com-

bined into households), firms, owners of resources, governments, and perhaps

others. The economic world of the neoclassical textbooks is a world of transac-

tions, and these transactions typically involve an exchange of goods, services,

and/or money that both parties to the transaction find advantageous to achieve

these goals. Along with consumption, work and leisure are important compo-

nents of the utility functions of households. Often, profit is assumed to be the

sole objective of firms and their owners.