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.
Search results for economy
Understanding interaction in virtual worlds
Technology / Computer Sciences
Dec 23, 2009 |
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New cinema blockbuster, Avatar, leapt to the top of box office charts as soon as it came out — a stunning 3D realisation of an alien world. Our fascination with themes of escape to other fantastic places and the thrill of ...
UNL research aims to understand homelessness among women
Other Sciences / Social Sciences
Dec 23, 2009 |
5 / 5 (2) |
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(PhysOrg.com) -- Women make up nearly one-third of the homeless population in the United States. Yet little is known about how they become homeless or how they live. University of Nebraska-Lincoln sociologist Les Whitbeck ...
Disproportionate effects of global warming and pollution on disadvantaged communities
Dec 22, 2009 |
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Global warming, pollution, and the environmental consequences of energy production impose a greater burden on low-income, disadvantaged communities, and strategies to prevent these inequities are urgently needed. A provocative ...
The world's next economic hot spot?
Dec 21, 2009 |
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(PhysOrg.com) -- A bailout by neighboring emirate Abu Dhabi has apparently stabilized Dubai’s financial crisis. But the longer-term economic impact—on Dubai and other nations—could grow more serious.
Many take dim view of new-fangled Christmas lights
Dec 21, 2009 |
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(AP) -- To Steven Walls, it's beginning to look nothing like Christmas, anywhere he goes.
MARES to provide comprehensive view of south Florida marine ecosystems
Dec 21, 2009 |
3 / 5 (1) |
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A new $1.5 million NOAA-funded project, MARES will provide a comprehensive view of south Florida marine ecosystems. This will be the first study to include human dimensions science and deliver guidance for ...
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.
Study: States need economic freedom to benefit from natural resources
Dec 18, 2009 |
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(PhysOrg.com) -- States with small governments, low taxes and labor market freedom enjoy greater benefits from natural resource development than states with large and intrusive government policies, according to a new study ...
Santa Baby: The Secrets to Santa's Sexiness
Medicine & Health / Psychology & Psychiatry
Dec 18, 2009 |
2 / 5 (4) |
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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.
Year's Best Gift Could Be A Job From Santa
Dec 17, 2009 |
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In this year's myriad discussions of stimulus and jobs programs, no one has yet publicly raised the idea to ask Santa Claus to take Christmas Eve off. Outsourcing his job by asking mere mortals to deliver ...
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