Search results
Results from the WOW.Com Content Network
An economy [a] is an area of the production, distribution and trade, ... The first economist in the true modern meaning of the word was the Scotsman Adam Smith ...
Sometimes an economic hypothesis is only qualitative, not quantitative. [106] Expositions of economic reasoning often use two-dimensional graphs to illustrate theoretical relationships. At a higher level of generality, mathematical economics is the application of mathematical methods to represent theories and analyse problems in economics.
Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary for supplying the wants of the society, and to employ the inhabitants ...
But that doesn’t mean the man in the street agrees. If you look just at the growth numbers, they’ve been strong, and the unemployment rate’s pretty low. But consumer confidence remains muted.
The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production, consumption, economic management, work in general, financial transactions and trade of goods and services.
An economic system, or economic order, [1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions , agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
The United States has a highly developed mixed economy. [40] [41] [42] It is the world's largest economy by nominal GDP; it is also the second largest by purchasing power parity (PPP), behind China. [43]
On Wednesday, the Dow Jones Industrial Average (^DJI) closed at 14,075, its highest close in the past five years -- its fifth-highest closing price ever, and within 90 points of its all-time high ...