Broadly speaking, economics is a social science, and its area of study is human activity involved in meeting needs and wants. However, beyond this there are a range of definitions, past and present which have been applied, first to the term political economy and then to the modern term economics. John Maynard Keynes once remarked that "Economics is the science of thinking." Broadly the history of the study moved from the study of "wealth" to "welfare" to the idea studying trade-offs. < ...

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Economics, Economics - Definitions of economics, Economics - Wealth definition, Economics - Welfare definition, Economics - Scarcity definition, Economics - Areas of study in economics, Economics - Economic assumptions, Economics - Supply and demand, Economics - Price, Economics - Scarcity, Economics - Marginalism, Economics - Value, Economics - Economic language and reasoning, Economics - Development of economic thought, Economics - Schools of economic thought, Economics - Modern 'mainstream' economics, Economics - Neoclassical economics, Economics - Post-Keynesian economics, Economics - New-Keynesian economics, Economics - Other alternatives, Economics - Economics and other disciplines

Read more here: » Economics: Encyclopedia II - Economics - Definitions of economics

See also:

Economics, Economics - Definitions of economics, Economics - Wealth definition, Economics - Welfare definition, Economics - Scarcity definition, Economics - Areas of study in economics, Economics - Economic assumptions, Economics - Supply and demand, Economics - Price, Economics - Scarcity, Economics - Marginalism, Economics - Value, Economics - Economic language and reasoning, Economics - Development of economic thought, Economics - Schools of economic thought, Economics - Modern 'mainstream' economics, Economics - Neoclassical economics, Economics - Post-Keynesian economists, Economics - Other alternatives, Economics - Economics and other disciplines

Read more here: » Economics: Encyclopedia II - Economics - Definitions of economics

The general formula for elasticity (the "y-elasticity of x") is: or, more formally, A common mistake for students of economics is to confuse elasticity with slope. (Case & Fair, 1999: 108, 109). Elasticity is the slope of a curve on a loglog graph only, not on a regular graph (taking into account whether the independent variable is on the horizontal or the vertical axis). Consider the information in figure 2. This is a special case which illustrates that slope and elas ...

See also:

Elasticity economics, Elasticity economics - Generalized cases, Elasticity economics - Mathematical definition, Elasticity economics - Importance

Read more here: » Elasticity economics: Encyclopedia II - Elasticity economics - Mathematical definition

Capital has a number of related meanings in economics, finance and accounting. In finance and accounting, capital generally refers to financial wealth, especially that used to start or maintain a business. Initially, it is assumed here that other styles of capital, e.g. physical capital, can be acquired with money or financial capital, so there is little need here for any further analysis of the latter. So below, the word "capital" is short-hand for "real capital" or "capital goods" or means of production. Also to be ignored wi ...

Including:

• Capital economics - Capital in classical economic theory
• Capital economics - Broadening the definition of capital

Read more here: » Capital economics: Encyclopedia - Capital economics

Profit is a positive return made on an investment by an individual or by business operations. The word comes from Latin meaning "to go forward." It is a relatively ill-defined concept - methods of calculation differ between accountants and economists. Marxist economists refer to it as one segment of the 'surplus value' extracted by capitalists from their workers (by working them past the break-even point where all expenses, including wages, have been covered). Profitability refers to the amoun ...

Including:

• Profit - Economic definitions of profit
• Profit - Accounting definitions of profit
• Profit - More varieties of profit

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The Creative Industries are a set of interlocking sectors, and are a growing part of the global economy. They are often focussed on creating and exploiting intellectual property products such as the arts, films, games or fashion designs, or providing business-to-business creative services. Creative industries - Definitions and context for the sector. The UK Department of Media, Culture and Sports (DCMS) define the Creative Industries as: “those industries which have their origin in individual creat ...

Including:

• Creative industries - Definitions and context for the sector
• Creative industries - Economic contribution
• Creative industries - Wider role
• Creative industries - Success factors
• Creative industries - Measuring performance

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In economics, a person who is able and willing to work yet is unable to find a paying job is considered unemployed. The unemployment rate is the number of unemployed workers divided by the total civilian labor force, which includes both the unemployed and those with jobs (all those willing and able to work for pay). In practice, measuring the number of unemployed workers actually seeking work is notoriously difficult. There are several different methods for measuring the number of unemployed workers. Each method has its own biases and the different systems make comparing unemployment statistics between countries, ...

Including:

• Unemployment - Impact on society and the economy
• Unemployment - Cost
• Unemployment - Benefits
• Unemployment - Causes of Unemployment
• Unemployment - Capitalism and Unemployment
• Unemployment - Debate on Unemployment
• Unemployment - Types of Unemployment
• Unemployment - Measuring unemployment
• Unemployment - BLS definitions
• Unemployment - The accuracy of unemployment statistics
• Unemployment - Situation in the United States
• Unemployment - Aiding the Unemployed

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Biodiversity or biological diversity is the diversity of and in living nature. There are a number of definitions and measures of biodiversity. Biodiversity - Etymology. Biodiversity is a neologism and a portmanteau word, from bio and diversity. The term biological diversity was coined by Thomas Lovejoy in 1980, while the word biodiversity itself was coined by the entomologist E. O. Wilson in 1986, in a report for the first American Forum on biological diversity organized b ...

Including:

• Biodiversity - Etymology
• Biodiversity - Biodiversity definitions
• Biodiversity - Origin of life and biodiversity evolution
• Biodiversity - Benefits of biodiversity
• Biodiversity - Ecological role of biodiversity
• Biodiversity - Economic role of biodiversity
• Biodiversity - Ethical role of biodiversity
• Biodiversity - Scientific role of biodiversity
• Biodiversity - Evaluation of biodiversity
• Biodiversity - Measurement of biodiversity
• Biodiversity - Biodiversity: time and space
• Biodiversity - Species inventory
• Biodiversity - Hotspots of biodiversity
• Biodiversity - Threats to biodiversity
• Biodiversity - Biodiversity management: conservation preservation and protection
• Biodiversity - Juridical status of biological diversity
• Biodiversity - Biodiversity and size bias
• Biodiversity - Quotes from Sean Nee
• Biodiversity - Measures of biodiversity

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Psychoanalysis is a family of psychological theories and methods within the field of psychotherapy that seeks to elucidate connections among unconscious components of patients' mental processes, and to do so in a systematic way through a process of tracing out associations. In classical psychoanalysis, the fundamental subject matter of psychoanalysis is the unconscious patterns of life as they become revealed through the analysand's (the patient's) free associations. The analyst's goal is to help liberate the analysand from unexamined ...

Including:

• Psychoanalysis - History
• Psychoanalysis - Theories
• Psychoanalysis - The topographical model
• Psychoanalysis - The structural model
• Psychoanalysis - The economic model
• Psychoanalysis - The conflict model
• Psychoanalysis - The object-relational model
• Psychoanalysis - The intersubjective model
• Psychoanalysis - Techniques
• Psychoanalysis - Cost and length
• Psychoanalysis - Training
• Psychoanalysis - Other definitions
• Psychoanalysis - Psychoanalyses in groups
• Psychoanalysis - Cultural Adaptations
• Psychoanalysis - Adaptations for age and managed care
• Psychoanalysis - Play Therapy for different ages
• Psychoanalysis - Other play therapy techniques
• Psychoanalysis - Criticisms
• Psychoanalysis - Online papers about psychoanalytic theory
• Psychoanalysis - Online papers and links about psychoanalytic research
• Psychoanalysis - Critiques of psychoanalysis

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Scarcity is a central concept in economics. In fact, neoclassical economics, the dominant school of economics today, defines its field as involving scarcity: following Lionel Robbins' definition, economics is the study of the allocation of scarce goods among competing ends. Scarcity means not having sufficient resources to produce enough to fulfill unlimited subjective wants. Alternatively, scarcity implies that not all of society's goals can be attained at the same time, so ...

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Slavery is a condition in which one person, known as a slave, is under the control of another. Slavery almost always occurs for the purpose of securing the labour of the slave. A specific form, known as chattel slavery, is defined by the absolute legal ownership of a person or persons, including the legal right to buy and sell them. Slavery - Definitions. The 1926 Slavery Convention described slavery as "...the status or condition of a person over whom any or all of the powers attaching to the right ...

Including:

• Slavery - Definitions
• Slavery - Unfree labour
• Slavery - How do people become slaves?
• Slavery - History
• Slavery - Europe and the Mediterranean
• Slavery - Slavery in the Ottoman Empire and the Middle East
• Slavery - Slavery in Africa
• Slavery - Slavery in the Americas
• Slavery - Slavery in Asia
• Slavery - Abolitionist movements
• Slavery - Apologies
• Slavery - Reparations
• Slavery - Economics of slavery
• Slavery - Potential for total abolition
• Slavery - Famous slaves and former slaves
• Slavery - Films
• Slavery - Media

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The word subjective has several denotations: It has several dictionary definitions: see Wiktionary:Subjective. For senses of this word in philosophy, see subject (philosophy). In grammar, it refers to the nominative case. In statistics, it refers to personal probability. In economics, it refers to economic subjectivism. The converse of 'subjective' is objective. Other related archivesdenotations, economic subjectivism, econ

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Prostitution is the sale of sexual services, such as oral sex or sexual intercourse, for money. A person selling sexual services is a prostitute, a type of sex worker. In a more general sense of the word, anyone selling his/her services for a cause thought to be unworthy can be described as prostituting him/herself. In the UK a prostitute is any individual, "who allows his/her body to be used for lewd purposes in return for payment". Prostitution - Overview and definitions. While prostitutes and thei ...

Including:

• Prostitution - Overview and definitions
• Prostitution - Types of prostitution
• Prostitution - Street prostitution
• Prostitution - Escort/Out-call Prostitution
• Prostitution - Socio-economic and legal status of prostitution
• Prostitution - Legality of selling sex
• Prostitution - Advertising prostitution
• Prostitution - Regulated prostitution
• Prostitution - Prostitution of children
• Prostitution - Prostitution and illegal immigration
• Prostitution - Sex tourism
• Prostitution - Violence against prostitutes
• Prostitution - Human or sex trafficking
• Prostitution - Medical situation
• Prostitution - How common is prostitution?
• Prostitution - Politics
• Prostitution - Legal issues
• Prostitution - Feminism
• Prostitution - History

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Classical economics is a school of economic thought whose major developers include William Petty, Adam Smith, David Ricardo, Thomas Malthus, John Stuart Mill and Johann Heinrich von Thünen. It is seen by many as the first modern school of economic thought. Some authors, such as John Maynard Keynes expand the definition of classical economics to include Karl Marx. Classical economists attempted to explain growth and development. They produced their "magnificent dynamics" during a period in which capitalism was emerging from a p ...

Including:

• Classical economics - Literature

Read more here: » Classical economics: Encyclopedia - Classical economics

Marriage is a relationship between individuals which has formed the foundation of the family for most societies. Marriage can include legal, social, and religious elements. In western societies, marriage has traditionally been understood as social contract between a man (husband) and a woman (wife), while in other parts of the world polygamy has been the most common form of marriage, usually in the form of polygyny (a man taking several wives) but occasionally in the form of polyandry (a woman taking several husbands). In some western ...

Including:

• Marriage - Definitions
• Marriage - Types of marriages
• Marriage - Western world
• Marriage - Eastern world
• Marriage - Polygamy monogamy and polyandry
• Marriage - Traditional cultures
• Marriage - Marriage today in Belgium The Netherlands Canada Spain
• Marriage - Unique Practices
• Marriage - Recognition
• Marriage - Rights and obligations
• Marriage - Marriage restrictions
• Marriage - Termination
• Marriage - Weddings
• Marriage - Marriage and religion
• Marriage - Marriage and economics
• Marriage - Criticisms of marriage
• Marriage - Pragmatic marriage
• Marriage - Romantic Marriage Vs. Pragmatic Marriage

Read more here: » Marriage: Encyclopedia - Marriage

Heterodoxy includes "any opinions or doctrines at variance with an official or orthodox position". [1] As an adjective, heterodox is used to describe a subject as "characterized by departure from accepted beliefs or standards" (status quo). The noun heterodoxy is synonymous with unorthodoxy and heresy, while the adjective heterodox is synonymous with dissident and heretical. Including:

• Heterodoxy - Definition
• Heterodoxy - Ecclesiastic usage
• Heterodoxy - Eastern Orthodoxy
• Heterodoxy - Roman Catholicism
• Heterodoxy - Other denominations
• Heterodoxy - Footnotes
• Heterodoxy - Other articles
• Heterodoxy - External links

Read more here: » Heterodoxy: Encyclopedia - Heterodoxy

The general formula for elasticity (the "y-elasticity of x") is: or, more formally, . A common mistake for students of economics is to confuse elasticity with slope. (Case & Fair, 1999: 108, 109). Elasticity is the slope of a curve on a loglog graph only, not on a regular graph (taking into account whether the independent variable is on the horizontal or the vertical axis). Consider the information in figure 2. This is a special case which illustrates that slope and ela ...

See also:

Elasticity economics, Elasticity economics - Generalized cases, Elasticity economics - Mathematical definition, Elasticity economics - Importance

Read more here: » Elasticity economics: Encyclopedia II - Elasticity economics - Mathematical definition

Cautions - these definitions are different from those used by accountants In Economics, a firm is said to be making an economic profit when its revenue exceeds the total opportunity cost of its inputs. It is said to be making an accounting profit if its revenues exceed the total price the firm pays for those inputs. In a single-goods case, economic profit happens when the firm's average cost is less than the price of the product or service at the profit-maximizing output. The economic profit is equal to the quantity output multiplied by the ...

See also:

Profit, Profit - Economic definitions of profit, Profit - Accounting definitions of profit, Profit - More varieties of profit

Read more here: » Profit: Encyclopedia II - Profit - Economic definitions of profit

Traditional economic theory generally viewed capital as physical items, such as tools, buildings and vehicles that are used in the production process. Other economists have focussed on broader forms of capital. For example, investment in skills and education can be viewed as building up human capital. Some theories use the terms intellectual capital or knowledge capital which lead to certain questions and controversies discussed in those articles. In general, intellectual capital is that which produces new " intellectual proper ...

See also:

Capital economics, Capital economics - Capital in classical economic theory, Capital economics - Broadening the definition of capital

Read more here: » Capital economics: Encyclopedia II - Capital economics - Broadening the definition of capital

Index of Sustainable Economic Welfare (ISEW) is roughly defined by the following formula. ISEW = personal consumption + non-defensive public expenditures - defensive private expenditures + capital formation + services from domestic labour - costs of environmental degradation - depreciation of natural capita ...

See also:

Index of Sustainable Economic Welfare, Index of Sustainable Economic Welfare - Definition, Index of Sustainable Economic Welfare - History

Read more here: » Index of Sustainable Economic Welfare: Encyclopedia II - Index of Sustainable Economic Welfare - Definition