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economics

(Encyclopedia)economics, study of how human beings allocate scarce resources to produce various commodities and how those commodities are distributed for consumption among the people in society (see distribution). ...

home economics

(Encyclopedia)home economics, study of homemaking and the relation of the home to the community. Formerly limited to problems of food (nutrition and cookery), clothing, sewing, textiles, household equipment, housec...

commerce, in economics

(Encyclopedia)commerce, traffic in goods, usually thought of as trade between states or nations. Engaged in by all peoples from the earliest times, it has been carried on in some areas and by some peoples more than...

competition, in economics

(Encyclopedia)competition, in economics, rivalry in supplying or acquiring an economic service or good. Sellers compete with other sellers, and buyers with other buyers. In its perfect form, there is competition am...

depression, in economics

(Encyclopedia)depression, in economics, period of economic crisis in commerce, finance, and industry, characterized by falling prices, restriction of credit, low output and investment, numerous bankruptcies, and a ...

capital, in economics

(Encyclopedia)capital, in economics, the elements of production from which an income is derived, usually defined with the exception of land and labor. As originally used in business, capital denoted interest-bearin...

labor, in economics

(Encyclopedia)labor, term used both for the effort of performing a task and for the workers engaged in the activity. In ancient times much of the work was done by slaves (see slavery). In the feudal period agricult...

supply-side economics

(Encyclopedia)supply-side economics, economic theory that concentrates on influencing the supply of labor and goods as a path to economic health, rather than approaching the issue through such macroeconomic concern...

value, in economics

(Encyclopedia)value, in economics, worth of a commodity in terms of other commodities, or in terms of money (see price). Value depends on both desirability and scarcity. The marginal theory of value, pioneered in t...

London School of Economics and Political Science

(Encyclopedia)London School of Economics and Political Science, at London, England; founded 1895, recognized as a school of the Univ. of London (see London, Univ. of) in 1900. It publishes many periodicals, includi...

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