macroeconomics summary | Britannica
macroeconomics, Study of the entire economy in terms of the total amount of goods and services produced, total income earned, level of employment of productive resources, and general behaviour of prices. Until the 1930s, most economic analysis focused on …
Importance of economics and its branches | Britannica
Economics is the study of how individuals and societies choose to employ those resources: what goods and services will be produced, how they will be produced, and how they will be distributed among the members of society. Economics is customarily divided into microeconomics and macroeconomics.
Keynesian economics | Definition, Theory, Examples, & Facts ...
Keynesian economics, body of ideas set forth by John Maynard Keynes in his General Theory of Employment, Interest and Money (1935–36) and other works, intended to provide a theoretical basis for government full-employment policies.
Adam Smith | Biography, Books, Capitalism, Invisible Hand, & Facts ...
2024年10月26日 · Adam Smith, Scottish social philosopher and political economist who is a towering figure in the history of economic thought, best known for his book An Inquiry into the Nature and Causes of the Wealth of Nations (1776), the first comprehensive system of political economy. Learn more about Smith’s life and career.
Great Depression | Definition, History, Dates, Causes, Effects,
2024年10月23日 · Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory.
The Wealth of Nations | Summary, Themes, Significance, & Facts
2024年10月18日 · The Wealth of Nations, work by the Scottish economist and philosopher Adam Smith, first published in 1776, that became a foundational study in the history of economics and the first formulation of a comprehensive system of political economy. Despite its renown as the first great work of political.
International trade | Definition, History, Benefits, Theory, & Types ...
2024年10月14日 · International trade, economic transactions that are made between countries. Among the items commonly traded are consumer goods, such as television sets and clothing; capital goods, such as machinery; and raw materials and food. Learn more about international trade in this article.
Labour economics | Definition & Facts | Britannica Money
2024年10月6日 · labour economics, study of the labour force as an element in the process of production. The labour force comprises all those who work for gain, whether as employees, employers, or as self-employed, and it includes the unemployed who are seeking work.
Sustainable development | Definition, Goals, Origins, Three Pillars ...
2024年10月16日 · sustainable development, approach to social, economic, and environmental planning that attempts to balance the social and economic needs of present and future human generations with the imperative of preserving, or preventing undue damage to, …
Definition, Economics, History, Types, & Facts - Britannica Money
2024年11月10日 · Money, a commodity accepted by general consent as a medium of economic exchange. It is the medium in which prices and values are expressed; as currency, it circulates anonymously from person to person and country to country, thus facilitating trade, and it is the principal measure of wealth.
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