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  2. Positive and normative economics - Wikipedia

    en.wikipedia.org/wiki/Positive_and_normative...

    Positive economics as a science concerns the investigation of economic behavior. [4] It deals with empirical facts as well as cause-and-effect relationships. It emphasizes that economic theories must be consistent with existing observations and produce precise, verifiable predictions about the phenomena under investigation.

  3. Essays in Positive Economics - Wikipedia

    en.wikipedia.org/wiki/Essays_in_Positive_Economics

    The essay suggests that such differences in principle could be narrowed by progress in positive economics (1953, p. 5). The essay argues that a useful economic theory should not be judged primarily by its tautological completeness, however important in providing a consistent system for classifying elements of the theory and validly deriving ...

  4. Matthew effect - Wikipedia

    en.wikipedia.org/wiki/Matthew_effect

    The Matthew effect, sometimes called the Matthew principle, is the tendency of individuals to accrue social or economic success in proportion to their initial level of popularity, friends, and wealth.

  5. Law of supply - Wikipedia

    en.wikipedia.org/wiki/Law_of_supply

    A supply is a good or service that producers are willing to provide. The law of supply determines the quantity of supply at a given price. [5]The law of supply and demand states that, for a given product, if the quantity demanded exceeds the quantity supplied, then the price increases, which decreases the demand (law of demand) and increases the supply (law of supply)—and vice versa—until ...

  6. Spillover (economics) - Wikipedia

    en.wikipedia.org/wiki/Spillover_(economics)

    The concept of spillover in economics could be replaced by terminations of technology spillover, R&D spillover and/or knowledge spillover when the concept is specific to technology management and innovation economics. [2] Moreover, positive or negative impact often creates a social crisis or a shock in the market like booms or crashes. [1]

  7. Accelerator effect - Wikipedia

    en.wikipedia.org/wiki/Accelerator_effect

    The accelerator effect in economics is a positive effect on private fixed investment of the growth of the market economy (measured e.g. by a change in gross domestic product (GDP)). Rising GDP (an economic boom or prosperity) implies that businesses in general see rising profits, increased sales and cash flow, and greater use of existing capacity.

  8. Applying the principles of Kwanzaa to advance economic justice

    www.aol.com/applying-principles-kwanzaa-advance...

    The holiday encourages people to honor seven principles: unity, self-determination, collective work and responsibility, cooperative economics, purpose, creativity and faith.

  9. Taylor rule - Wikipedia

    en.wikipedia.org/wiki/Taylor_rule

    In this equation, both and should be positive (as a rough rule of thumb, Taylor's 1993 paper proposed setting = =). [10] That is, the rule produces a relatively high real interest rate (a "tight" monetary policy) when inflation is above its target or when output is above its full-employment level, in order to reduce inflationary pressure.