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In social science and economics, public interest is "the welfare or well-being of the general public" and society. [1] While it has earlier philosophical roots and is considered to be at the core of democratic theories of government, often paired with two other concepts, convenience and necessity, it first became explicitly integrated into governance instruments in the early part of the 20th ...
Constitutional economics 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".
Information economics or the economics of information is the branch of microeconomics that studies how information and information systems affect an economy and economic decisions. [1] One application considers information embodied in certain types of commodities that are "expensive to produce but cheap to reproduce."
As a means of adaptation during the Cuban Special Period times of economic crisis, resolver ("to resolve") became an important part of Cuban culture. Resolver refers to a spirit of resourcefulness and do-it-yourself problem solving.
Labour is a measure of the work done by human beings. It is conventionally contrasted with other factors of production, such as land and capital. Some theories focus on human capital, or entrepreneurship, (which refers to the skills that workers possess and not necessarily the actual work that they produce). Labour is unique to study because it ...
A significant number of teachers have to work extra hours or other jobs to make up for low pay, with nearly 17% of teachers having a job outside the school system in 2020–21. Public school teachers also work more than the required 39.4 hours a week, with an average of 52 hours worked per week, only 25.2 of which is spent on teaching.
Voluntary exchange is a fundamental assumption in classical economics and neoclassical economics which forms the basis of contemporary mainstream economics. [1] That is, when neoclassical economists theorize about the world, they assume voluntary exchange is taking place.
Three sectors according to Fourastié Clark's sector model This figure illustrates the percentages of a country's economy made up by different sector. The figure illustrates that countries with higher levels of socio-economic development tend to have less of their economy made up of primary and secondary sectors and more emphasis in tertiary sectors.