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With 79,232 students as of the 2022–2023 academic year, Arizona State University in Tempe, Arizona is the largest public university in the United States. A public university or public college is a university or college that is owned by the state or receives significant funding from a government. Whether a national university is considered ...
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 ...
Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare. Welfare can be defined in terms of well-being, prosperity, and overall state of being.
The term economics was originally known as "political economy".This term evolved from the French Mercantilist usage of économie politique, which expanded the notion of economy from the ancient Greek concept of household management to the national level, as the public administration of state affairs.
The original Latin word universitas refers in general to "a number of persons associated into one body, a society, company, community, guild, corporation, etc". [13] As urban town life and medieval guilds developed, specialized associations of students and teachers with collective legal rights (these rights were usually guaranteed by charters issued by princes, prelates, or their towns) became ...
A state university system in the United States is a group of public universities supported by an individual state, territory or federal district.These systems constitute the majority of public-funded universities in the country.
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".
Jean-Jacques Rousseau, Discours sur l'oeconomie politique, 1758. Political economy is a branch of political science and economics studying economic systems (e.g. markets and national economies) and their governance by political systems (e.g. law, institutions, and government).