Economy
hideAn economy (or "the economy") is the realized economic system of a country or other area. It includes the production, exchange, distribution, and consumption of goods and services of that area. The study of different types and examples of economies is the subject of economic systems. A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, among other factors. These factors give context, content, and set the conditions and parameters in which an economy functions.
Today the range of fields of study exploring, registering and describing the economy or a part of it, include social sciences such as economics, as well as branches of history (economic history) or geography (economic geography). Practical fields directly related to the human activities involving production, distribution, exchange, and consumption of goods and services as a whole, range from engineering to management and business administration to applied science to finance. All kind of professions, occupations, economic agents or economic activities, contribute to the economy. Consumption, saving and investment are core variable components in the economy and determine market equilibrium. There are three main sectors of economic activity: primary, secondary and tertiary.
The word "economy" can be traced back to the Greek word "one who manages a household", derived from οἴκος, "house", and νέμω, "distribute (especially, manage)". From οἰκονόμος "of a household or family" but also senses such as "thrift", "direction", "administration", "arrangement", and "public revenue of a state". The first recorded sense of the word "economy", found in a work possibly composed in 1440, is "the management of economic affairs", in this case, of a monastery. Economy is later recorded in other senses shared by οἰκονομία in Greek, including "thrift" and "administration". The most frequently used current sense, "the economic system of a country or an area", seems not to have developed until the 19th or 20th century.
For more information about Economy, read the full article at
Wikipedia.
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News tagged with economy
NREL Evaluates UPS Hybrid-Electric Van Performance
Dec 22, 2009 |
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(PhysOrg.com) -- The U.S. Department of Energy's National Renewable Energy Laboratory (NREL) has collected and analyzed fuel economy, maintenance and other vehicle performance data from UPS’s first generation hybrid diesel ...
Can Snowmobiles Adapt in the Age of Ethanol?
Dec 18, 2009 |
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(PhysOrg.com) -- By 2022, federal regulations will require a 400 percent increase in the amount of renewable fuel in America’s gasoline, from 9 billion to 36 billion gallons.
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EU grants 1.5 billion euros for wind farms, carbon capture
Dec 09, 2009 |
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The EU commission on Wednesday granted 1.5 billion euros (2.2 billion dollars) to offshore wind farms and carbon capture and storage schemes to help relaunch Europe's economy and cut greenhouse gas emissions.
Silicon Valley getting greener with Hara
Dec 07, 2009 |
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Fresh from signing on to help green Silicon Valley, startup Hara will be at climate talks in Copenhagen this week to urge that corporations not wait for regulations to fight global warming.
Broadband stimulus moves at dial-up speeds
Dec 03, 2009 |
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Mark Morgenthaler wants nothing more than to hire 15 people to help expand his wireless Internet service, Surfnet Communications in the Santa Cruz Mountains. He can't wait to start accepting applications, interviewing candidates, ...
New software to simulate future financial crises
Technology / Computer Sciences
Dec 03, 2009 |
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(PhysOrg.com) -- Can economics better predict how banks will react to future credit crunches and their impact on the wider economy? Breakthrough simulation software by European researchers could hold the answers ...
Education Budget Cuts to Cause Increase in Mobile Technology Use
Dec 17, 2009 |
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(PhysOrg.com) -- As budget cuts in education continue, we will see more use of mobile technologies in the classroom in 2010, predicts Dr. Vivian Wright, a University of Alabama educator.
Santa Baby: The Secrets to Santa's Sexiness
Medicine & Health / Psychology & Psychiatry
Dec 18, 2009 |
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(PhysOrg.com) -- As Mr and Mrs Claus continue to enjoy the world's longest surviving marriage, a team of researchers at the University of St Andrews set out to uncover the secrets of Santa's enduring attractiveness.
Biden unveils federal broadband stimulus projects
Dec 17, 2009 |
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(AP) -- Vice President Joe Biden on Thursday announced the first $182 million in federal stimulus money for 18 projects to expand high-speed Internet networks in rural areas and other underserved communities.
California's troubled waters: Satellite-based findings reveal major groundwater loss in Central Valley (w/ Video)
Space & Earth / Earth Sciences
Dec 14, 2009 |
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New space observations reveal that since October 2003, the aquifers for California's primary agricultural region - the Central Valley - and its major mountain water source - the Sierra Nevada - have lost nearly ...
Top US lawmaker skeptical of new space funding
Space & Earth / Space Exploration
Dec 17, 2009 |
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Democratic House Speaker Nancy Pelosi said she was personally skeptical of manned space missions and warned that NASA's future funding could depend on whether it was likely to create jobs.
Video game watchdog shuts down, victim of economy
Dec 18, 2009 |
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(AP) -- David Walsh said when he was assembling his first report card on video game violence 13 years ago, children were attacking on-screen monsters or aliens with imaginary chain saws and guns.
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