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An economic system, or economic order, [1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions , agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
Thus, (*) the 1997 data are based on a slightly different classification than the 2007 and 2002 data. Number of establishments by sector in the United States economy in 1997, 2002, and 2007. Value of sales, shipments, receipts, revenue, or business done by sector in the United States economy in 1997, 2002, and 2007.
Job growth by US president, measured as cumulative percentage change from month after inauguration to end of term [147] Panel chart illustrates nine key economic variables measured annually in 2014–2017. The years 2014–2016 were during President Obama's second term, while 2017 was during President Trump's term. Refer to citations on detail ...
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Economic activity in the hypothetical quaternary sector comprises information- and knowledge-based services, while quinary services include industries related to human services and hospitality. [2] Economic theories divide economic sectors further into economic industries.
The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production, consumption, economic management, work in general, financial transactions and trade of goods and services.
The Office of Business Economics (OBE) was established in BFDC in 1945. In 1953, the BFDC was abolished and the OBE was designated a primary organization of the Department. In 1972, the OBE was redesignated the Bureau of Economic Analysis and assigned to the newly established Social and Economic Statistics Administration (SESA) in the Department.
Economic data are data describing an actual economy, past or present. These are typically found in time-series form, that is, covering more than one time period (say the monthly unemployment rate for the last five years) or in cross-sectional data in one time period (say for consumption and income levels for sample households).