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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.
Regional economic geography examines the economic conditions of particular regions or countries of the world. It deals with economic regionalization as well as local economic development. Historical economic geography examines the history and development of spatial economic structure. Using historical data, it examines how centers of population ...
Country Complexity Rankings [1] Rank Country Economic complexity index (2018) Change in 5 years (2013-18) Change in 10 years (2008-18) 1 Japan: 2.43 2 Switzerland: 2.17 1 1 3 Republic of Korea: 2.11 4 8 4 Germany: 2.09 2 2 5 Singapore: 1.85 1 6 Austria: 1.81 2 1 7 Czech Republic: 1.80 1 2 8 Sweden: 1.70 3 9 Hungary: 1.66 5 10 Slovenia: 1.62 3 3 11
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.
Those theories have sometimes been taken to mean that trade between an industrialised country and a developing country would lower the wages of the unskilled in the industrialised country. (But, as noted below, that conclusion depends upon the unlikely assumption that productivity is the same in the two countries).
Growth economics studies factors that explain economic growth – the increase in output per capita of a country over a long period of time. The same factors are used to explain differences in the level of output per capita between countries, in particular why some countries grow faster than others, and whether countries converge at the same ...
A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.
Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital ...