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Economics

Ecological economics

Ecological economics is an approach to economic theory that focuses on a strong link between ecosystem balance and people’s well-being. Sometimes referred to as “green economics,” it stands in sharp contrast to other streams of thought in economics. “Green economists” often hold more radical positions than those theorized by environmental economics, which generally hold more […]

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International economics

International economics is that branch of economic science that has as its object of study the economic relations between different countries, as well as the analytical models for interpreting them. International economics can be analyzed from different perspectives, however, the academic literature seems to have focused heavily on the following aspects: International economics uses the

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Economy

Economy (from Greek οἶκος (oikos), “house” also understood as “household goods,” and νόμος (nomos) “rule” or “law”) means both the organization of the use of scarce (finite or finite) resources when implemented in order to best meet individual or collective needs (formal meaning) and the system of interactions that ensures such an organization (substantive meaning), a

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Economist

An economist is a professional and practitioner in the social science discipline of economics, whose goal is to interpret society and the economic behavior of its agents, identifying explanatory methods and theories through scientific research and analysis. The field of inquiry includes the study of the behavior of all economic agents: individuals, households, firms, institutions, social groups,

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Environmental economics

Environmental economics is a branch of political economy concerned with environmental issues. The birth of the discipline is conventionally set between the 1950s and 1960s, although some basic concepts had been developed earlier. The importance of the discipline has grown during the 21st century because of increasing environmental concerns. Some key issues are the costs

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Distribution (economics)

In economics the term distribution generally refers to activities of transferring goods from production sources to final consumption. It involves goods-producing enterprises, true commercial enterprises (wholesale and retail), and auxiliary transportation, warehousing, and advertising enterprises, which together constitute the distribution apparatus. In this postwar period, distribution techniques and the distribution system underwent radical changes to

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Monetary economics

Monetary economics is the branch of political economy that studies the determinants of money supply and demand and their consequences on the real economy. The need to regulate exchanges without resorting to barter, in complex economic systems, has led mankind to adopt as a medium of exchange in commercial activities an instrument that is easy

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Open economy

An open economy is defined as an economy that exchanges goods and services or financial assets with the rest of the world. The exchange of goods and services takes place through imports (purchases from abroad) and exports (sales abroad). The difference between exports and imports, so-called net exports, gives the size of the trade balance.

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Information economics

Information economics is a branch of economics that studies the conflicting relationships that take shape in the contract, especially those that occur under conditions of asymmetric information. Information advantage conditions the definition of the characteristics of the optimal contract between the principal (the one who proposes the contract) and the agent (the one who can

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Labor economics

Labor economics is the specialized branch of economics that studies labor supply and demand, defines and measures employment and unemployment, and evaluates the effects on firms and the broader economy of economic policies designed to address unemployment. Labor economics attempts to understand the market and the dynamics of the world of work. The labor market

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Urban economics

Urban economics is the economic discipline that interprets the phenomenon ‘city’ as an original form of organization of social work: a form that, since the first urban agglomerations, has ensured efficiency in exchanges and interaction among people, expanded the division of labor and generated continuous innovation, in the economic, social, cultural and political spheres, since

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Economic system

The economic system, according to the market economy view of modern Western society, is the network of interdependencies and interconnections among economic operators or subjects who carry out the activities of production, consumption, exchange, labor, saving and investment to satisfy individual needs and realize maximum profit by optimizing the use of resources, avoiding waste and increasing

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Autarky

Economics [closed economy] In economics, autarky is a kind of political policy that aims to nullify a country’s economic dependence on foreign countries by encouraging internal production of all goods needed by the national community. The pursuit of these objectives leads on the one hand to neglect the advantages of importing goods at a lower cost than

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Behavioral economics

Behavioral economics (also, behavioural economics) is an interdisciplinary branch common to psychology and economics, studying the influence of psychological, emotional, cultural and social factors on economic decisions (individual and institutional), with the tools available to the psychological sciences; introducing the irrationality factor into the economic sciences, not considered by classical economics. Behavioral economics studies the effects

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Dispersion

The term “dispersion” takes on different meanings depending on the context and branch of its intended use. In common usage it can take on the meaning of distribution without order. Grammar Noun, countable and uncountable.Plural: dispersions. Etymology From Middle English dispersioun.From Old French dispersion.From Latin dispertio. Pronunciation (US) IPA: /dɪˈspɜːʒən/or /dɪˈspɝʒən/ Economics and finance Science and mathematics Mathematics Physics Other sciences

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Negotiation

Negotiation is a communicative process between two or more actors aimed at formulating a joint decision. It is also one of the four basic types of ADR, or alternative dispute resolution (i.e., without going through the courts). An article in the Organization Behavior and Human Decision Processes defined negotiation as the “process by which parties with nonidentical preferences allocate

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Arbitration

Arbitration (from the Latin arbitratus, lit. “judgment”) is an alternative method of dispute resolution (i.e. without recourse to judicial proceedings) also known as ADR (Alternative dispute resolutions), which consists in entrusting one or more third parties (the arbitrators) with the task of resolving a dispute, by means of a decision (the award) that will be binding

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Econometrics

In economics, econometrics is the use of mathematical and statistical methods to produce models to test the validity of assumptions about economic policy. Econometrics is now a branch of economic science; but to know it thoroughly, one must keep in mind that in its time it was also a movement advocating a new direction of research in

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Political economy

Political economy studies the activity carried out by men in order to use in the most efficient way the available resources in order to satisfy their needs. Since resources are limited and needs are unlimited, each individual or each group of individuals must make choices: political economy studies the forms that human behavior (individual or society)

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Productivity

In economics, productivity can be defined, as a first approximation, as the ratio of the quantity of output to the weighted average of the inputs used in the production process. It is calculated with reference to the individual firm, the production sector or, more generally, the nation. The level of productivity depends on both technical

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Service

A service, in economics and in marketing, is the intangible equivalent of a good, therefore a good with quantifiable economic value. The provision of service has been defined as an economic activity that cannot be separated from its owner, because it is produced at the same time as it is consumed, and all this is what

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Scarcity

Scarcity means that human wants for goods, services, and resources exceed the available supply (the opposite of scarcity is abundance). Scarcity also includes an individual’s lack of resources to buy commodities. Resources, such as labor, tools, land, and raw materials are necessary to produce the goods and services we want but they exist in limited supply.

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Retail (business-to-consumer)

Business-to-consumer (B2C) is the retail part of commerce; retail is the process of selling consumer goods, services, or information directly to consumers. The term was popular during the dot-com boom of the late 1990s when online retailers and sellers of goods were a novelty. Of French derivation “retaillier”, in ancient French, means “to cut” or “to reduce”: from this expression it is possible

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