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Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and institutions.
Saudi Arabia is an economic welfare state with free medical care [65] and unemployment benefits. [66] However, the country relies not on taxation but mainly oil revenues to maintain the social and economic services to its populace. Payment: 2000 SAR (US$534) for 12 months for an unemployed person aged 18–35. External links
These may be characterized as cyclical (related to the business cycle) or structural (related to underlying economic characteristics) and include, among others: Economic conditions: The U.S. faced the subprime mortgage crisis and resulting recession of 2007–2009, which significantly increased the unemployment rate to a peak of 10% in October ...
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 ...
The economic history of the United States spans the colonial era through the 21st century. The initial settlements depended on agriculture and hunting/trapping, later adding international trade, manufacturing, and finally, services, to the point where agriculture represented less than 2% of GDP .
According to one 2018 study, 70% of initially-denied claims are ultimately paid. [51] Some employers and insurance companies vigorously contest employee claims for workers' compensation payments. [citation needed] Injured workers may be able to get help with their claims from state agencies or by retaining a workers' compensation lawyer. [52]
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".
Claims and loss handling is the materialized utility of insurance; it is the actual "product" paid for. Claims may be filed by insureds directly with the insurer or through brokers or agents. The insurer may require that the claim be filed on its own proprietary forms, or may accept claims on a standard industry form, such as those produced by ...