Search results
Results from the WOW.Com Content Network
The simplest definition of socially necessary labour time is the amount of labour time performed by a worker of average skill and productivity, working with tools of the average productive potential, to produce a given commodity. This is an "average unit labour-cost", measured in working hours.
Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a ...
In addition to basic needs, humans also have needs of a social or societal nature such as the human need for purpose, to socialize, to belong to a family or community or other group. Needs can be objective and physical, such as the need for food, or psychical and subjective, such as the need for self-esteem. Understanding both kinds of "unmet ...
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . 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 ...
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
Quizlet is a multi-national American company that provides tools for studying and learning. [1] Quizlet was founded in October 2005 by Andrew Sutherland, who at the time was a 15-year old student, [ 2 ] and released to the public in January 2007. [ 3 ]
The rational choice model, also called rational choice theory refers to a set of guidelines that help understand economic and social behaviour. [1] The theory originated in the eighteenth century and can be traced back to the political economist and philosopher Adam Smith. [2]
Kaufman argued that an actual need can only be identified independent of a proposed solution. According to Kaufman, to conduct a good-quality needs assessment, determine the current results and articulate the desired results; the distance between results is the actual need. Once a need is identified, then a solution can be selected. [5] [6] [7]