Search results
Results from the WOW.Com Content Network
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
An economic theory that defines wealth by the amount of precious metals owned. [48] business cycle. Also called the economic cycle or trade cycle. The downward and upward movement of gross domestic product (GDP) around its long-term growth trend. [49] The length of a business cycle is the period of time containing a single boom and contraction ...
A Home Economics instructor giving a demonstration, Seattle, 1953 A training class 1985 at Wittgenstein Reifenstein schools. Home economics, also called domestic science or family and consumer sciences (often shortened to FCS or FACS), [1] is a subject concerning human development, personal and family finances, consumer issues, housing and interior design, nutrition and food preparation, as ...
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".
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), Gross national income (GNI), net national income (NNI), and adjusted national income (NNI adjusted for natural resource depletion – also called as NNI at factor cost).
The sum of the gross value added in the various economic activities is known as "GDP at factor cost". GDP at factor cost plus indirect taxes less subsidies on products = "GDP at producer price". For measuring the output of domestic product, economic activities (i.e. industries) are classified into various sectors.
In telecommunications, a long-distance call (U.S.) or trunk call (also known as a toll call in the U.K. [citation needed]) is a telephone call made to a location outside a defined local calling area. Long-distance calls are typically charged a higher billing rate than local calls.
In economics, aggregate demand (AD) or domestic final demand (DFD) is the total demand for final goods and services in an economy at a given time. [1] It is often called effective demand, though at other times this term is distinguished. This is the demand for the gross domestic product of a country.