The branch of social science
that deals with the production and
distribution and consumption of goods and services and their management.
Factors of Economics:
, Consumption of
, Business Needs,
Organization Needs, Government Needs,
Education System Needs
Supply and Demand
, Efficiency, Waste,
is a social science concerned with the factors
that determine the production, distribution, and consumption of goods and
is an area of the production, distribution, or trade, and
consumption of goods and services by different agents in a given
is the economy of the world, considered as the
international exchange of goods and services that is expressed in monetary
units of account (money).
is defined as an economic system consisting of a
mixture of either markets and economic planning, public ownership and
private ownership, or free markets and economic interventionism.
is defined as an economy that aims at reducing
environmental risks and ecological scarcities, and that aims for
sustainable development without degrading the environment.
is the part of an economy that is neither
taxed, nor monitored by any form of government.
is an economic system where decisions regarding investment, production,
and distribution are based on the interplay of
supply and demand
, which determines the
prices of goods and services. Price Gouging
is a branch of economics that studies the
behavior of individuals and firms in making decisions regarding the
allocation of limited resources.
is a branch of economics dealing with the performance, structure,
behavior, and decision-making of an economy as a whole rather than
individual markets. This includes national, regional, and global
economies. Along with microeconomics, macroeconomics is one of the two
most general fields in economics.
is an economic activity where an
immaterial exchange of value occurs. When a service such as labor is
performed the buyer does not take exclusive ownership of that which is
purchased, unless agreed upon by buyer and seller. The benefits of such a
service, if priced, are held to be self-evident in the buyer's willingness
to pay for it. Public services are those, that society (nation state,
fiscal union, regional) as a whole pays for, through taxes and other
argues economic growth can be most
effectively created by investing in capital and by lowering barriers on
the production of goods and services. According to supply-side economics,
consumers will then benefit from a greater supply of goods and services at
lower prices; furthermore, the investment and expansion of businesses will
increase the demand for employees and therefore create jobs. Typical
policy recommendations of supply-side economists are lower marginal tax
rates and less government regulation.
characterize economic policies as favoring the
wealthy or privileged.
is a set of solutions to economics focusing on
the determination of goods, outputs, and income distributions in markets
through supply and demand. This determination is often mediated through a
hypothesized maximization of utility by income-constrained individuals and
of profits by firms facing production costs and employing available
information and factors of production, in accordance with rational choice
refers to schools of economic thought or
methodologies that are outside "mainstream economics", often represented
by expositors as contrasting with or going beyond neoclassical economics.
attempts to explain the behavior of supply, demand,
and prices in a whole economy with several or many interacting markets, by
seeking to prove that the interaction of demand and supply will result in
an overall (or "general") equilibrium. General equilibrium
contrasts to the theory of partial equilibrium, which only analyzes single
is a school of economic thought that is based on the
concept of methodological
– that social
phenomena result from the motivations
and actions of individuals. theorizes that the subjective choices of
individuals including individual knowledge, time, expectation, and other
subjective factors, cause all economic phenomena. Austrians seek to
understand the economy by examining the social ramifications of individual
choice, an approach called methodological individualism. It differs from
other schools of economic thought, which have focused on aggregate
variables, equilibrium analysis, and societal groups rather than
sustained increase in the general price level of goods and services in an
economy over a period of time.
is a financial charge
or other levy imposed upon a taxpayer (an individual or legal entity) by a
state or the functional equivalent of a state to fund various public
is imposed upon an individual person (juristic or natural) or
property (i.e. real and personal property, livestock, crops, wages, etc.)
as distinct from a tax imposed upon a transaction. In this sense, indirect
taxes such as a sales tax or a value added tax (VAT) are imposed only if
and when a taxable transaction occurs.
An indirect tax (such as sales tax, per unit tax, value
added tax (VAT), or goods and services tax (GST)) is a tax collected by an
intermediary (such as a retail store) from the person who bears the
ultimate economic burden of the tax (such as the consumer). The
intermediary later files a tax return and forwards the tax proceeds to
government with the return.
negative economic growth for two consecutive quarters. It is also a
business cycle contraction which results in a general slowdown in economic
) is a sustained, long-term downturn in economic activity in
one or more economies. It is a more severe downturn than an economic
recession, which is a slowdown in economic activity over the course of a
normal business cycle.
studies how economic activity affects and is shaped by social
is the profession and field of study that deals with the
economics and management of the home and community. The field deals with
the relationship between individuals, families, and communities, and the
environment in which they live.
Family and Consumer Science
is the study of government policy through
the lens of economic efficiency and equity. At its most basic level,
public economics provides a framework for thinking about whether or not
the government should participate in economics markets and to what extent
its role should be. In order to do so, microeconomic theory is utilized to
assess whether the private market is likely to provide efficient outcomes
in the absence of governmental interference.
is a research program in economics
and constitutionalism that has been described as explaining the choice "of
alternative sets of legal-institutional-constitutional rules that
constrain the choices and activities of economic and political agents."
This extends beyond the definition of "the economic analysis of
constitutional law" and is distinct from explaining the choices of
economic and political agents within those rules, a subject of orthodox
Social Market Economy
is a social and economic system combining free market capitalism which
supports private enterprise, alongside social policies which establish
both fair competition within the market and a welfare state.
Shock Therapy Economics
refers to the sudden release of
price and currency controls, withdrawal of state subsidies, and immediate
trade liberalization within a country, usually also including large-scale
privatization of previously public-owned assets.
National Bureau of Economic Research
Economic Cooperation and Development
Foundation for Economic
acquisition of goods and services in
ever-increasing amounts. Unsustainable
is a person or organization that uses economic
services or commodities
is relationship between consumption and income
is the discipline that applies
mathematical and statistical
finance and other industries and professions. Actuaries are professionals
who are qualified in this field through intense education and experience.
In many countries, actuaries must demonstrate their competence by passing
a series of thorough professional examinations.
Gross Domestic Product
is a monetary measure of the market value of all final goods and services
produced in a period (quarterly or yearly). Nominal GDP estimates are
commonly used to determine the economic performance of a whole country or
region, and to make international comparisons. Nominal GDP per capita does
not, however, reflect differences in the cost of living and the inflation
rates of the countries; therefore using a basis of GDP at purchasing power
parity (PPP) is arguably more useful when comparing differences in living
standards between nations.
is an economic concept used to measure total
economic activity in the production of new goods and services in an
accounting period. It is a much broader measure of the economy than gross
domestic product (GDP), which is limited mainly to final output (finished
goods and services). In 2016, the Bureau of Economic Analysis estimated
gross output in the United States to be $32.4 trillion, compared to $18.7
trillion for GDP.
are statistical models used in econometrics. An
econometric model specifies the statistical relationship that is believed
to hold between the various economic quantities pertaining to a particular
economic phenomenon under study. An econometric model can be derived from
a deterministic economic model by allowing for uncertainty, or from an
economic model which itself is stochastic. However, it is also possible to
use econometric models that are not tied to any specific economic theory.
National Income 1927-32
is any payment to a factor of production in
excess of the cost needed to bring that factor into production.
Council for Economic Ed
Economic Policy Research
Social Development Resource
Communities Index Map
is a lie and a con game, it has caused too
much suffering and destruction. The only development we should
have is increasing the
quality of living
, and the only true way to do that is by
increasing the quality of education. You have to develop the
person so that the person can develop sustainable ways to use
the land, the air, the water, the food, and build shelter in the
most effective and efficient ways possible. We can create jobs
and we can still grow, but we need to grow intellectually, and
we need to grow sustainably and symbiotically, and be fair to
everyone at the same time. That's Development.
A Slow Economy,
is just another way of saying that
just a Tool, it's not a Reason. Economics is
and a distraction from reality.
You can't ignore Math
"If you don't count the things that
matter, then knowing how to count won't matter."
Economics is like a Serial Killers Guide Book, not to say that
all the information and knowledge is useless, it's just misunderstood
We don't need Economics Education we need better Education.
Consumer Confidence Index
is also a distortion of reality.
is actually consumer ignorance, which is
fueled by our
corrupt media outlets
is not an accurate measurement for reality.
"The system is more then just Flawed
and Criminal, it ignores common sense."
10 Principles of Economics
People face tradeoffs
cost of something is what you give up to get it
Rational people think
at the margin
People respond to incentives
Trade can make everyone
Markets are usually a good way to organize economic activity
Governments can sometimes improve market outcomes
A country's standard
of living depends on its ability to produce goods and services
rise when the government prints too much money
Society faces a
short-run tradeoff between Inflation and unemployment.
We are not in the Great Recession, we
are in the Great Digression, a
Goods - Services - Deflation - Inflation - Printing Money -
Short Term Debt Cycle - Long Term Debt Cycle - Debt
Credit - Credit Worthy - Assets - Liability - Spending -
Quantity - Price - Lending - Borrowing - Interest Rates
Better Life Index Initiative: Measuring Well-Being and Progress
"Humans may compete for entertainment purposes, but Human Life is not a Competition."
really help students understand the
world around them? Or does this just prepare students to be
corporate puppets and political slaves.
It wasn't just
Greedy Corporations and Corrupt
Politicians that killed the American Worker, and Killed the American Dream,
and destroyed our workforce and our Cities, while exploiting
poor people from other countries
, it was also from the lack of
public awareness, who unknowingly became accessories to these
crimes against humanity. But now we know the source, our education, which will undergo more incredible improvements
advancements, finally putting our ignorance behind us once and
for all. (this statement
should only be seen as another way of describing some of our
most damaging social issues, problems that need to be solved,
and having access to a high quality education is where it all
So how would you rewrite this statement....
"Money has corrupted
the minds of most every person alive, it has done so for
hundreds of years as of 2015. We know this problem is causing a
lot a damage, but we can't seem to make the improvements fast
enough in education, and in public awareness. In order to
increase people's understanding of money, people need knowledge,
which gives people more control, and it also protects people
from being controlled."
Question: Are the words 'kill' or
'crimes' necessary? Or are they just lower in relevance? Of course
we can not ignore that 100's millions of people have died, or
ignore the people who are still dying all because of our own ignorance. We should
never forget the sacrifices that people have made, we owe our
lives to them, so we should fix our problems and to stop this mass
slaughter of mankind. Note:
effect your understanding of the message, or
distract you from the message. Same goes for
and all the other words in our
Fair Trade - Sensible and Sustainable
Lets talk about Jobs