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Supply. Demand. Any basic economics class will start with these two words on the blackboard. They are the yin and yang of the market. Whenever one of these two items falls out of balance, it can ...
Philosopher Joseph Heath wrote that Economics in One Lesson is "a book that is as valuable today as when it was first published in 1946...Hazlitt's book should be essential reading for anyone interested in knowing which way is up and which way is down in the world of economics," though Heath criticized Hazlitt for being overly ideological about ...
The Curriculum Open-Access Resources in Economics Project (CORE Econ) is an organisation that creates and distributes open-access teaching material on economics. The goal is to make teaching material and reform the economics curriculum. [ 1 ]
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".
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In economics, economic value is a measure of the benefit provided by a good or service to an economic agent, and value for money represents an assessment of whether financial or other resources are being used effectively in order to secure such benefit.
Episode 1 - Resources and Scarcity: What Is Economics All About? Wilderness preservation and WWII productivity show how society allocates and transforms resources. Episode 2 - Markets and Prices: Do They Meet Our Needs? Developer William J. Levitt's low-cost housing and Reggie Jackson's contract help explain the powerful forces of supply and ...
Monetary economics is the branch of economics that studies the different theories of money: it provides a framework for analyzing money and considers its functions ( as medium of exchange, store of value, and unit of account), and it considers how money can gain acceptance purely because of its convenience as a public good. [1]