Search results
Results from the WOW.Com Content Network
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 ...
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 ...
In the late 1950s, the economic growth in America and Europe—often called Wirtschaftswunder (German for economic miracle) —brought up a new form of economy: mass consumption economy. In 1958, John Kenneth Galbraith (1908–2006) was the first to speak of an affluent society in his book The Affluent Society . [ 21 ]
The Significance and Basic Postulates of Economic Theory. Richard G. Lipsey (2009). "Some Legacies of Robbins’ An Essay on the Nature and Significance of Economic Science," Economica, 76(302), pp. 845-56 (press + button). Roger E. Backhouse and Steven Medema, 2008. "economics, definition of," The New Palgrave Dictionary of Economics, 2nd Edition.
Economics is a study of man in the ordinary business of life. It enquires how he gets his income and how he uses it. Thus, it is on the one side, the study of wealth and on the other and more important side, a part of the study of man. [33]
One growing understanding in economic development is the promotion of regional clusters and a thriving metropolitan economy. In today's global landscape, location is vitally important and becomes a key in competitive advantage. [citation needed] International trade and exchange rates are key issues in economic development.
student’s educational achievement. Two important features characterized the education reforms of this movement. First, as in other fields of public service provision, a focus on outcomes and results became crucial. This type of performance evaluation required the definition of both particular
The concept of human development expands upon the notion of economic development to include social, political and even ethical dimensions.Since the mid-twentieth century, international organisations such as the United Nations and the World Bank have adopted human development as a holistic approach to evaluating a country’s progress that considers living conditions, social relations ...