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  2. Crowding out (economics) - Wikipedia

    en.wikipedia.org/wiki/Crowding_out_(economics)

    If the economy is at capacity or full employment, then the government suddenly increasing its budget deficit (e.g., via stimulus programs) could create competition with the private sector for scarce resources, resulting in a redistribution of production across the economy. Thus the effect of the stimulus is offset by the effect of crowding out.

  3. Market economy - Wikipedia

    en.wikipedia.org/wiki/Market_economy

    The social market economic model, sometimes called Rhine capitalism, is based upon the idea of realizing the benefits of a free-market economy, especially economic performance and high supply of goods while avoiding disadvantages such as market failure, destructive competition, concentration of economic power and the socially harmful effects of ...

  4. Economic system - Wikipedia

    en.wikipedia.org/wiki/Economic_system

    Circulation model of economic flows for a closed market economy. In this model the use of natural resources and the generation of waste (like greenhouse gases ) is not included. An economic system , or economic order , [ 1 ] is a system of production , resource allocation and distribution of goods and services within a society .

  5. Circular flow of income - Wikipedia

    en.wikipedia.org/wiki/Circular_flow_of_income

    The government sector consists of the economic activities of local, state and federal governments. Flows from households and firms to government are in the form of taxes. The income the government receives flows to firms and households in the form of subsidies, transfers, and purchases of goods and services.

  6. Capitalism - Wikipedia

    en.wikipedia.org/wiki/Capitalism

    A social market economy is a free-market or mixed-market capitalist system, sometimes classified as a coordinated market economy, where government intervention in price formation is kept to a minimum, but the state provides significant services in areas such as social security, health care, unemployment benefits and the recognition of labor ...

  7. Glossary of economics - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_economics

    Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...

  8. Mixed economy - Wikipedia

    en.wikipedia.org/wiki/Mixed_economy

    The political definition of a mixed economy refers to the degree of state interventionism in a market economy, portraying the state as encroaching onto the market under the assumption that the market is the natural mechanism for allocating resources.

  9. Planned economy - Wikipedia

    en.wikipedia.org/wiki/Planned_economy

    Planned economies contrast with command economies in that a planned economy is "an economic system in which the government controls and regulates production, distribution, prices, etc." [39] whereas a command economy necessarily has substantial public ownership of industry while also having this type of regulation. [40]