trading blocs An economic union is a type of trade bloc which is composed of a common market with a customs ... share a common currency. Purposes for establishing a economic union normally include increasing economic efficiency and establishing closer political and cultural ties between the member countries. Economic union is established through trade pact . List of economic unions Every Economic and monetary union has also an Economic Union listed below are economic unions only see respective articles for lists of customs unions common markets customs and monetary unions economic and monetary unions Single market of the European Union ref Economic union between all EU member states, but those of them inside the Eurozone are also part of an economic and monetary union . ref ref Established by the Treaty ... agreement to use the Euro Monaco is in a de facto economic and monetary union with the EU. ref ... Economic integration stages World .png thumb right 334px Stages of economic integration around the World ... into. legend 008000 Economic and Monetary Union CARICOM Single Market and Economy CSME Eastern Caribbean Currency Union EC , Economic and Monetary Union of the European Union EU Eurozone legend 00FF00 Economic union CARICOM Single Market and Economy CSME , Single market of the European Union EU legend 00FFFF Customs and Monetary Union Economic and Monetary Community of Central Africa CEMAC Central African CFA franc franc , West African Economic and Monetary Union UEMOA West African CFA franc franc legend 804000 Common market European Economic Area EEA , European Free Trade Association EFTA , Common Economic Space CIS CES legend FF8040 Customs union Andean Community CAN , Customs Union of Belarus ... Pacific Strategic Economic Partnership TPP 2015 East African Community EAC 2015 Southern African Development ... union ref 2023 African Economic Community AEC Andean Community CAN ref Twelfth Andean Presidential Council http www.comunidadandina.org INGLES documentos documents Act10 6 00.htm Act of Lima ref Economic ... more details
For financial securities such as common stock stocks and bond finance bonds security finance Economic security or financial security is the condition of having stable income or other resources to support a standard of living now and in the foreseeable future. It includes probable continued solvency predictability of the future cash flow of a person or other Economic Entity economic entity , such as a country ... title ref Economic security tends to include the broader effect of a society s production levels ... of Arizona formed a Department of Economic Security with a mission to promote the safety, well ... Welfare, the Division of Vocational Rehabilitation, the State Office of Economic Opportunity ... ref The Minnesota Department of Economic Security was formed in 1977 from the departments of Employment Services and Vocational Rehabilitation, the Governor s Manpower Office, and the Economic Opportunity ... in this department. In 2003, the Minnesota Department of Economic Security and Minnesota Department of Trade and Economic Development were merged to form The Minnesota Department of Employment and Economic Development . ref http www.deed.state.mn.us agency history.htm DEED History Bot generated title ref Economic security of countries main Economic security politics Economic security, in the context ... etc., Economic security today forms, arguably, as important a part of national security as military policy. Economic security has been proposed as a key determinant of international relations , particularly ... to the country s overall economic security are considered economic espionage , which is illegal ... to economic intelligence, such as proprietary information or technology, for economic advantage. ref http www.csis.gc.ca nwsrm bckgrndrs bckgrndr06 eng.asp Backgrounder No. 6 Economic Security Bot generated title ref Other It is widely believed that there is a tradeoff between economic security and economic ... Economic Security Category Economics terminology kk ru ... more details
This article is about the academic journal. For the field of study, see Economic botany . Infobox Journal title Economic Botany cover editor Daniel E. Moerman discipline Botany language abbreviation Econ Bot publisher Springer Science Business Media , The New York Botanical Garden Press country USA frequency quarterly history openaccess no license impact impact year website http sciweb.nybg.org science2 EconomicBotany.asp link1 link1 name link2 link2 name RSS atom JSTOR OCLC LCCN CODEN ISSN 0013 0001 eISSN 1874 9364 Economic Botany is an academic journal that deals with the uses of plants by people, or economic botany . It covers fields such as ethnopharmacology as well as potential new crops. Category Economic botany Category Botany journals Category Quarterly journals Category Springer academic journals sci journal stub botany stub nl Economic Botany ... more details
An economic taxonomy is a system of classification of economic activity, including products, companies and industries. Some economists believe that the study of economic policy demands the use of a taxonomic classificatory approach. ref Day, A.C.L. 1955 The taxonomic approach to the study of economic policies. The American Economic Review 45 64 78. http www.jstor.org pss 1811583 ref Widely used industry taxonomy industry taxonomies include the International Standard Industrial Classification ISIC national and regional taxonomies such as the United States Standard Industrial Classification SIC , the North American Industry Classification System NAICS , Statistical classification of economic activities in the European Community NACE , the United Kingdom Standard Industrial Classification of Economic Activities , the Russian Economic Activities Classification System OKVED and proprietary taxonomies such as the Industry Classification Benchmark and Global Industry Classification Standard . The international and national taxonomies are used by official statistical agencies. The proprietary taxonomies are often used in the financial services industry to group similar investment vehicle s and to construct sectorial stock market indices . Pavitt s Taxonomy classifies firms by their principal sources of innovation. MasterFormat provides a taxonomy for organizing construction projects with the primary unit of differentiation consisting of a binary fail no fail tag. The majority of the users of MasterFormat fall into the first category. See also Taxonomy Biological taxonomy Industry taxonomy Military taxonomy References reflist Category Economics Category Taxonomy ... more details
About the academic field historical events Economic history of the world changes in economic ideas History of economic thought Economics sidebar Campaignbox Theories of History Economic history is the study of Economy economies or economic phenomena in the past. Analysis in economic history is undertaken ... economic theory to historical situations and institution s. The topic includes business history , financial ... history and Labor history discipline labor history . Quantitative Econometrics econometric economic ... article?id pde2008 C000173&edition current&q Economic 20history&topicid &result number 7 Abstract . ref Development as a separate field Treating economic history as a discrete academic discipline ... of economics and economic theory in the interwar era. Cambridge economists believed that pure economics involved a component of economic history and that the two were inseparably entangled. Those at the LSE believed that economic history warranted its own courses, research agenda and academic ... position of separating economic history from economics won out. Many universities in the UK developed independent programmes in economic history rooted in the LSE model. Indeed, the Economic History ... its own economic history programme. However, the past twenty years have witnessed the widespread ... or economics departments. Only the LSE and the University of Glasgow retain separate economic history departments and stand alone undergraduate and graduate programmes in economic history. The LSE, Glasgow and the University of Oxford together train the vast majority of economic historians coming through the British Universities in the United Kingdom higher education system . In the US, economic ... economic history graduate programs at any mainstream university anywhere in the country. Instead economic history is taught as a special field component of regular economics PhD ... University and Yale University . In recent decades economic historians, following Douglass ... more details
Economics sidebar Economic development generally refers to the sustained, concerted actions of policymakers and community communities that promote the standard of living and Economic expansion economic health of a specific area. Economic development can also be referred to as the quantitative and qualitative ... inclusion , health , safety , literacy , and other initiatives. Economic development differs from economic growth . Whereas economic development is a public policy policy intervention endeavor with aims of economic and social well being of people, economic growth is a phenomenon of market productivity and rise in GDP . Consequently, as economist Amartya Sen points out economic growth is one aspect of the process of economic development. ref name Development Which Way Now? Sen, A. 1983 . Development Which Way Now? Economic Journal, Vol. 93 Issue 372. Pp.745 762. ref Term The scope of economic development includes the process and policies by which a nation improves the economic, political ... s Center for International Finance and Development states that blockquote Economic development ... Industrialization are other terms people have used when discussing economic development ... state that economic development has been understood since the World War II to involve economic growth ... for Sustainable Development. New York Oxford University Press. ref Economic development can also ... to Schumpeter 2003 , the changes in this equilibrium state to document in economic theory can only ... of Economic Development. In Joseph Alois Schumpeter. pp. 61 116. Available at http dx.doi.org 10.1007 0 306 48082 4 3 Accessed October 19, 2009 . ref History Economic development originated ... is inadequate, they are victims of disease. Their economic life is primitive and stagnant. Their poverty ... Social Science Research The study of economic development by social scientists encompasses theories of industrial economic modernization causes, the historical phases or waves of economic development ... more details
for the journal Economic Geography journal File ElSalvadorfairtradecoffee.jpg thumb right 250px The economics of coffee coffee trade is a worldwide industry Economic geography is the study of the location, distribution and spatial organization of economic activities across the world. The subject matter ... of David Harvey social theorist and geographer David Harvey and the new economic geography which ... sidebar Economic geography is usually regarded as a subfield of the discipline of geography , although ... part of economic geography. ref cite book editor Gordon L. Clark, Maryann P. Feldman, and Meric S. Gertler title The Oxford Handbook of Economic Geography isbn 978 0 19 823410 4 publisher Oxford ... trade theory the new economic geography , which directly competes with an approach within the discipline of geography that is also called new economic geography . ref From S.N. Durlauf and L.E. Blume, ed. 2008 . The New Palgrave Dictionary of Economics , 2nd Edition new economic geography by Anthony ... the variety of approaches, economic geography has taken to many different subject matters, including ... to study As the economic geography is a very broad discipline with economic geographers using many different methodologies in the study of economic phenomena in the world some distinct approaches to study have evolved over time Theoretical economic Geography focuses on building theories about spatial arrangement and distribution of economic activities. Regional geography Regional economic geography examines the economic conditions of particular regions or countries of the world. It deals with economic regionalization , and local Economic growth economic development as well. Historical geography Historical economic geography examines history and the development of spatial economic structure. Using historical data it examines how the centers of population and economic activity shift, what ... these changes. Critical geography Critical economic geography is approach from the point of view of contemporary ... more details
Economic rationalism is an Australian term in discussion of microeconomic policy, applicable to the economic policy of many governments around the world, in particular during the 1980s and 1990s. Economic rationalists tend to favour Deregulation , Privatisation , a free market economy , privatisation of state owned industries, lower direct taxation and higher indirect taxation , and a reduction of the size of the Welfare State . Near equivalents include Thatcherism UK , Rogernomics NZ , and the Washington Consensus . To a large extent the term merely means economic liberalism , also called neoliberalism . However, the term was also used to describe advocates of market oriented reform within the Australian Labor Party , whose position was closer to what has become known as the Third Way centrism Third Way . The origins of the term are unclear. It seems likely that it arose independently in Australia, and was derived from the phrase economically rational , used as a favorable description of market oriented economic policies. Its first appearances in print were in the early 1970s, under ... by a best selling book http michaelpusey.com.au recent books.html Economic Rationalism in Canberra by http michaelpusey.com.au Michael Pusey . Criticism of economic rationalism The term economic rationalism is commonly used in criticism of free market economic policies as amoral or asocial. In this context economic rationalism may be summarised as the view that commercial activity ... of economic rationalism Supporters of economic rationalism have presented two kinds of responses ... that the term economic rationalism merely refers to rational policy formulation based on sound economic analysis, and does not preclude government intervention aimed at correcting market failure ... johnquiggin JournalArticles97 Econrat97.html Economic rationalism , by John Quiggin , Professor of Economics, James Cook University, Published as Quiggin, J. 1997 , Economic rationalism , Crossings, 2 ... more details
Economic war may refer to The Anglo Irish Trade War An set of policies in Uganda under Idi Amin , including the expropriation of properties owned by Asians and Europeans. disambig ... more details
Economic repression refers to various actions to restrain certain economy economical activities or social group s involved in economic activities. It contrasts with economic liberalization . Economists note widespread economic repression in developing countries . ref name jha ref name bhag ref Anne Krueger 1978 Foreign Trade Attempts & Economic Development Liberalization Attempts and Consequences ISBN 0884104834 ref The main goal of economic repression is protectionism , the instruments for which include Fine penalty fines and ceilings on interest rate s or exchange rate s. ref name jha Raghbendra Jha , Macroeconomics for Developing Countries , http books.google.com books?id BeqFbtRH9YEC&pg PA393&lpg PA393&dq 22economic repression is 22&source web&ots 0BRPW05Bqj&sig RiSSKcqSdQxP5uQi qstF 0gToU&hl en&sa X&oi book result&resnum 1&ct result p. 393 ref ref name bhag Jagdish Bhagwati 1989 Protectionism , ISBN 0262521504 ref A common type of economic repression against individuals is blacklisting . ref Encyclopedia of American Civil Liberties , ed. Paul Finkelman , vol. 1 A F 2006 ISBN 0415943426, http books.google.com books?id YoI14vYA8r0C&pg PA150&dq 22economic repression 22 soviet&lr p. 150, article Blacklisting by Anthony Chase ref References reflist Category Economics Category Persecution econ stub ... more details
Liberalism sidebar Economic liberalism is the ideological belief in giving all people economic freedom ... , 20. ref It is an economic philosophy that supports and promotes individual liberty and choice in economic matters and private property in the means of production. Although economic liberalism can be supportive ... of the poor. Economic liberalism emphasizes that people should make their own choices with their money, so long as it doesn t infringe on the liberty of others. Economic liberalism opposes economic planning as an alternative to the market mechanism. Economic liberalism contrasts with social liberalism as well as other economic orders such as mercantilism , state capitalism , socialism , market socialism ... www.econlib.org library Enc Fascism.html Fascism , Concise Encyclopedia of Economics. ref Economic ... enterprise and economic planning. For example, a social market economy is a largely dubious date December ... social inequalities that result from free market outcomes. Economic liberalism also includes support .... Theories in support of economic liberalism were developed in the Age of Enlightenment ... Smith claimed that if everyone is left to their own economic devices instead of being controlled by the state ... towards a capitalism capitalist economic system in the late 18th century, and the subsequent demise ... of classical economic liberalism. The early theory was based on the assumption that the economic ... or steal. While economic liberalism favors markets unfettered by the government, it maintains that the state ... implications on the free market. ref name econlib Initially, the economic liberalism had to contend ... of the 19th century and the beginning of the 20th, these were largely defeated. Today, economic ... schools of conservatism . See also Capitalism Classical liberalism Constitutional economics Economic freedom Fiscal conservatism List of countries by economic freedom Market economy Neoliberalism Ordoliberalism Private property Rule of law Social market economy References reflist DEFAULTSORT Economic ... more details
An economic expansion is an increase in the level of economic activity , and of the goods and services available in the market market place . It is a period of economic growth as measured by a rise in real GDP . ref cite book last O Sullivan first Arthur coauthors Steven M. Sheffrin title Economics Principles in action publisher Pearson Prentice Hall date 2003 location Upper Saddle River, New Jersey 07458 pages 310 url http www.pearsonschool.com index.cfm?locator PSZ3R9&PMDbSiteId 2781&PMDbSolutionId 6724&PMDbCategoryId &PMDbProgramId 12881&level 4 doi id isbn 0 13 063085 3 ref The explanation of such fluctuations in aggregate economic activity is one of the primary concerns of macroeconomics . Typically an economic expansion is marked by an upturn in production and utilization of resources. Economic recovery and prosperity are two successive phases of expansion. It may be caused by factors external to the economy, such as weather conditions or technical change, or by factors internal to the economy, such as Fiscal policy fiscal policies , Monetary policy monetary policies , the availability of Credit finance credit , interest rates , Regulation regulatory policies or other impacts on producer incentives. Global conditions may influence the levels of economic activity in various countries. Economic contraction and expansion relate to the overall output of all goods and services, while the terms inflation and deflation refer to increasing and decreasing prices of commodities, goods and services in relation to the value of money. Expansion means enlarging the scale of a company. The ways of expansion include internal expansion and integration. Internal expansion means a company enlarges its scale through opening branches, inventing new products, or developing new businesses .... See also Business cycle Economic growth References Reflist External links http www.nber.org cycles.html Business Cycle Expansions and Contractions , National Bureau of Economic Research Category Market ... more details
Economic substance is a doctrine in the tax law of the Taxation in the United States United States under which a transaction must have an economic purpose aside from reduction of tax liability in order to be considered valid. This doctrine is used to determine whether tax shelter s, or strategies used to reduce tax liability, are considered abusive by the Internal Revenue Service . It was adopted into law as part of the 2010 Patient Protection and Affordable Care Act . ref http politifact.com truth o meter promises promise 17 require economic justification for tax cuts ref See also Step transaction doctrine Substance over form Gregory v. Helvering References Reflist External links http www.irs.gov pub irs utl economic substance 1 25 05 .pdf The Economic Substance Doctrine in the Current Tax Shelter Environment Remarks by Donald L. Korb, Chief Counsel of the Internal Revenue Service tax stub Category Taxation in the United States Category United States law Category Legal doctrines and principles zh ... more details
File DiagFuncMacroSyst.pdf thumb 360px right Circulation Model economics model of Stock and flow economic flows for a closed economy closed capitalist mixed economy . An economic system is the combination of the various agencies, entities or even sectors as described by some authors that provide the economic ... , allocation of economic inputs, Distribution economics distribution of economic outputs, Landlords ..., it is the set of principles by which problems of economics are addressed, such as the economic problem of scarcity through allocation of finite productive resources. ref NA 2007 . economic systems, The New Encyclop dia Britannica , v. 4, p. 357. ref An economic system is composed of person people ... economic systems include Capitalism capitalist systems , Socialist economy socialist systems , and mixed economies . Today the world largely operates under a global economic system based on the capitalist mode of production . Economic systems is the JEL classification codes Economic systems JEL P Subcategories economics category that includes the study of such systems. Economic systems sidebar Decision making structures The decision making structures of an economy determine the use of economic ... Coordination mechanism How information is obtained and used to coordinate economic activity. The two dominant forms of coordination include Economic planning planning and the Market economy market planning ... by society . Incentive system A mechanism for inducing certain economic agents to engage in productive ... . ref name ComparingEconomic Comparing Economic Systems in the Twenty First Century , 2003, by Gregory ... it, and who gets what is produced. An economic system is a way of answering these basic questions, and different economic systems answer them differently. Many different objectives may be seen as desirable for an economy, like Economic efficiency efficiency , economic growth growth , liberty , and Equality of outcome equality . ref David W. Conklin 1991 , Comparative Economic Systems , University ... more details
Seealso Social stratification refimprove date March 2012 tocright Economic stratification refers to the condition within a society where social classes are separated, or stratified, along economic lines. Various economic strata or levels are clearly manifest. While in any system individual members will have varying degrees of wealth, economic stratification typically refers to the condition where there are meaningful gaps between the wealth controlled by various groups, and few instances in the transitional regions. Economic stratification should not be confused with the related concept, economic inequality . This deals with the range of wealth, rather than the existence of distinct strata. Economic inequality and economic stratification can coincide, of course. Causation Causal conditions The causal conditions for stratification include Unequal distribution of resources assets and income Asymmetrical personal ability Education , Genetics Genetic Factors Cultural priorities State institutions and activities The effects that stratification produces in society as a whole can be significant. They include Inefficient economic cycling Increasing corruption of judicial and legislative processes ... dangerous threat to any balanced system, since it can lead to economic oscillations of increasing magnitude ... failures, coincided to produce an economic collapse . Such collapses can occur because the circulation ... until the physical supply of M1 becomes unwieldy and the result is also economic collapse, as was the case ... effectively prevent an economic collapse. Therefore, it can be postulated that economic stratification itself ultimately results in economic collapse of one degree or another. An effective legislative ... frontcover&dq Economic stratification&hl en&sa X&ei TjlXT9SgDoyGiQL2 LDQCw&ved 0CEIQ6AEwAQ v onepage&q Economic 20stratification&f false title Inequality and isolations how economic stratification ..., 2012 author Oxendine, Alina Renee Category Economic sociology Category Sociological terms ... more details
trade bloc Economic integration is the unification of economic policies between different states through ... with the goal of increasing the combined economic productivity of the states. The trade stimulation effects intended by means of economic integration are part of the contemporary economic Theory ... certain developed states, economic integration has been thought of as the second best option for global ... was first employed in industrial organisation to refer to combinations of business firms through economic ... sense of combining separate economies into larger economic regions, the use of the word integration ... credits Eli Heckscher, Herbert Gaedicke and Gert von Eyern as the first users of the term economic ... of economic integration. The increase of trade between member states of economic unions is meant ... for the global scale development of economic integration, a phenomenon now realized in continental trade bloc economic blocks such as ASEAN , North American Free Trade Agreement NAFTA , SACN , the European Union , and the Eurasian Economic Community and proposed for intercontinental economic blocks, such as the Comprehensive Economic Partnership for East Asia and the Transatlantic Free Trade Area . The other objective for the states pursuing economic integration is to become or stay regionally and globally competitive, as the goods of the states outside economic blocks become more expensive. Stages File Economic integration stages World .png thumb right 334px Stages of economic integration ... that it participates into. legend 008000 Economic and Monetary Union CARICOM Single Market and Economy CSME Eastern Caribbean Currency Union EC , Economic and Monetary Union of the European Union EU Eurozone legend 00FF00 Economic union CARICOM Single Market and Economy CSME , Single market of the European Union EU legend 00FFFF Customs and Monetary Union Economic and Monetary Community of Central Africa CEMAC Central African CFA franc franc , West African Economic and Monetary Union UEMOA West ... more details
Infobox Journal cover discipline Economics abbreviation publisher Wiley Blackwell for the Royal Economic Society country United Kingdom UK frequency 8 issues a year history 1891 present openaccess website http www.blackwellpublishing.com journal.asp?ref 0013 0133&site 1 www.blackwellpublishing.com ISSN 0013 0133 The Economic Journal ref http www.blackwellpublishing.com journal.asp?ref 0013 0133&site 1 Webpage of The Economic Journal , Blackwell Publishing . ref is one of the leading scholarly journals of economics . It is published on behalf of the Royal Economic Society ref http www.res.org.uk Webpage of The Royal Economic Society ref by Wiley Blackwell . ref http www.blackwellpublishing.com Webpage of Wiley Blackwell Publishing . ref The journal is one of the oldest journals of economics. It was first published in 1891 with a view of promoting the advancement of economic knowledge . ref http www.jstor.org journals 00130133.html Journal information , JSTOR . ref John Maynard Keynes edited the journal from 1911 to 1946. John Flemming of the University of Oxford was the managing editor from 1976 80. Presently, when date January 2011 the journal is edited by Antonio Ciccone of Universitat Pompeu Fabra , Leonardo Felli of London School of Economics , Steve Machin Feature Editor of University College London , J rn Steffen Pischke of London School of Economics, and Andrew Scott Managing Editor of London Business School . ref http www.blackwellpublishing.com editors.asp?ref 0013 0133&site 1 Economic Journal Editorial Board , Blackwell Publishing. ref References reflist DEFAULTSORT Economic Journal Category Publications established in 1891 Category Economics journals nl The Economic Journal ... more details
History of war Economic warfare is the term for economic policy economic policies followed as a part of military operation s during war time. The purpose of economic warfare is to capture critical economic resources so that the military can operate at full efficiency and or deprive the Enemy military enemy forces of those resources so that they cannot fight the war properly. The concept of economic warfare is most applicable to conflict between nation states , especially in times of total war which involves not only the armed forces of a nation, but mobilization of the nation s entire economy towards the war effort . In such a situation, causing damage to the economy of the enemy directly damages the enemy s ability to fight the war. Some of the types or policies followed in economic warfare include Blockade Blacklist ing Preclusive purchasing Rewards Capturing of enemy assets Clear examples of economic warfare could be seen during World War II when the Allies of World War II Allied powers followed these policies to deprive the Axis powers Axis economies of critical resources. In turn, the Axis powers attempted to damage the Allied war effort via submarine warfare , and the sinking of supply ships carrying supplies, raw materials, and war related equipment. See also Commerce raiding Industrial warfare Lend Lease Merchant raider Strategic bombing Tonnage war Total war War economy Notes reflist Unreferenced date August 2008 mil stub Category Economic warfare Category Military economics ar bg de Wirtschaftskrieg fr Guerre conomique fi Taloudellinen sodank ynti he zh ... more details
The economic problem , sometimes called the basic, central or fundamental economic problem, is one of the fundamental economic theory economic theories in the operation of any economy . It asserts that there is scarcity , or that the finite resources available are insufficient to satisfy all human wants ... revolves around methods and possibilities of solving the economic problem. In short, the economic ... The economic problem is most simply explained by the question how do we satisfy unlimited wants with limited resources? The premise of the economic problem model is that human wants are constant and infinite ... or human resources available. The economic problem, and methods to curb it, revolve around ... for economy Concepts in the economic problem Needs Human needs are material items people need for survival ... stimulates demand for goods and services. In order to curb the economic problem, economists must ... and the methods which attempt to solve the economic problem is that humans inherently pursue ... which can only be obtained by working for it. Choice The economic problem fundamentally revolves ... s and purchasing power parity . Different economic models place choice in different hands. Socialism ... in the workplace and on the governmental level, which cooperatively formulates economic plans for economic decisions regarding the allocation and use of capital goods. Socialist systems that utilize ... or all major economic choices regarding production, allocation of inputs and distribution of output ... forces are advanced to such a degree that it solves the economic problem, insofar as needs are concerned ... businesses and some state owned enterprises, in the case of mixed economies make economic decisions ... rights of individuals and companies so that they can have the confidence to undertake the economic ... i.e., the price is too high , the economic surplus surplus will force providers of the good or service ... DEFAULTSORT Economic Problem Category Economic theories ar hi pt ... more details
otheruses In the law of the Soviet Union legal system of the Soviet Union , economic law was the legal theory and system under which economic relations were a legal discipline independent of criminal law and civil law common law civil law . ref name encyc Ferdinand Joseph Maria Feldbrugge, Gerard Pieter van den Berg, William B. Simons 1985 Encyclopedia of Soviet Law , BRILL , ISBN 9024730759 ref ref name ij O. S. Olimpiad Solomonovich Ioffe, Mark W. Janis 1987 Soviet Law and Economy , Martinus Nijhoff Publishers, ISBN 9024732654 ref In the Law of the United States and some other legal systems this approximately corresponds to the commercial law business law . Economic law In the Soviet legal system, the purpose of the economic law is to regulate the relations arising from the economic activities. The theory of the independence of the economic law was pursued after the 21st Congress of the CPSU of 1959, with the principal proponent being V.V. Laptev . After debate, this position was codified by the decrees of the CPSU and the USSR Council of Ministers during 1970 1975 and finalized in the 1977 Soviet Constitution . ref name encyc See also Constitutional economics Law and economics Political economy References references Category Law and economics Category Economic systems Category Economic law Category Soviet law Category Economy of the Soviet Union Category Law of the People s Republic of China soviet stub economics stub de Wirtschaftsrecht es Derecho econ mico lt kin teis ja pl Prawo gospodarcze ru fi Talousoikeus uk zh ... more details
one source date November 2011 Economic welfare broadly refers to the level of prosperity and living standards in an individual or group of persons. In the field of economics , it specifically refers to utility gained through the achievement of material goods and services. In other words, it refers to that part of social welfare that can be fulfilled through economic activity. ref Cite book first Paul A. last Samuelson authorlink2 William Nordhaus last2 William D. Nordhaus year 2004 title Economics textbook Economics nopp yes publisher McGraw Hill ref Measurement Economic welfare is measured in different ways, depending on the preferences of those measuring it. Factors used to measure the economic welfare of a population, include GDP , literacy , access to health care, and assessments of Environment biophysical environmental quality. References reflist See also Utility Welfare definition of economics economics stub Category Welfare et Majanduslik heaolu ... more details
multiple issues orphan August 2008 unreferenced August 2008 In an economy , Production, costs, and pricing production , Consumption economics consumption and Trade exchange are carried out by two basic economic units the firm and the household. Firm The firm makes production decisions. These include what product business goods to produce, how these goods are to be produced and what prices to charge. It employs the various factors in production, and it sells the finished goods to the household for consumption. Household The household is responsible for making consumption decisions and owns factors of production . It provides the firm with factor services in production, and buys the finished goods from the firm for consumption. Government Financial Overseas See also Agent economics DEFAULTSORT Economic Unit Category Economics terminology Economic term stub el sk Ekonomick subjekt ... more details
Unreferenced date July 2009 A puzzle in macroeconomics is a situation where the outcome of theory is inconsistent with observed macroeconomic data. An example might be the Equity premium puzzle which relates to the fact that over the last two hundred years, the risk premium of stocks over bonds has been around 5.5 , much larger than expected from theory. Equity Premium Puzzle was first documented by Mehra and Prescot 1985 . List of puzzles see also Category Economic puzzles Equity premium puzzle home bias in trade puzzle equity home bias puzzle consumption correlations puzzle Feldstein Horioka puzzle Real exchange rate puzzles Retirement consumption puzzle Missing trade puzzle, also known as Border puzzle DEFAULTSORT Economic Puzzle Category Economics terminology Economic term stub ... more details
Economic activism involves using economic power for change. Both conservative and liberal groups use economic activism to boycott companies and organizations that do not agree with their particular political, religious, or social values. Conversely, it also means purchasing from those companies and organizations that do. The idea behind the concept is two fold. First, you will reinforce good behavior and allow those companies that think like you to succeed. Second, you will punish bad behavior and hope that those companies that do not think like you do will fail or will adopt your correct way of thinking. See also Civil disobedience Direct democracy Divestment Dual power General strike Greenpeace Nonviolence Tax resistance econ stub Category Environmentalism Category Labor Category Community organizing ... more details
Not to be confused with financial centre Finance and Economics In financial services firms, economic capital can be thought of as the capital level shareholders would choose in absence of capital regulation. More specifically, it is the amount of risk capital , assessed on a realistic basis, which a firm requires to cover the risks that it is running or collecting as a going concern , such as market risk , credit risk , and operational risk . Firms and financial services regulators should then aim to hold risk capital of an amount equal at least to economic capital. Typically, economic capital is calculated by determining the amount of capital that the firm needs to ensure that its realistic balance sheet stays solvency solvent over a certain time period with a pre specified probability. Therefore, economic capital is often calculated as value at risk . The balance sheet, in this case, would ... of economic capital date back to the ancient Phoenicians , who took rudimentary tallies of frequency ... outbreak, and birth rate change. The concept of economic capital differs from regulatory capital ... while economic capital is the best estimate of required capital that financial institutions use internally ... units within the organization. Social science In social science , economic capital is distinguished ... or through social ties. Non economic forms of capital have been variously discussed most famously by sociologist Pierre Bourdieu . Economic capital might also be understood in the social sciences and social ... Solvency II References cite book last Porteous first Bruce coauthors Pradip Tapadar title Economic ... pdf accessdate October 11, 2011 title The Impact of Capital Structure on Economic Capital and Risk ... Annuity Firm Economic Capital and Risk Adjusted Performance journal Annals of Actuarial Science volume ... economic capital.html FDIC.gov , Economic Capital and the Assessment of Capital Adequacy Federal ... Economic Capital A Preamble http www.ceiops.org CEIOPS Category Actuarial science Category Financial ... more details
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