- Position (finance), commitments in a financial marketplace
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Other articles related to "economics, economic":
... The Great Transformation, argues that the term 'economics' has two meanings the formal meaning refers to economics as the logic of rational action and decision-making, as rational choice ... The substantive meaning of 'economics' is seen in the broader sense of 'economising' or 'provisioning' ... Economics is simply the way society meets their material needs ...
... Constrained optimization plays a central role in economics ... The Lagrange multiplier has an economic interpretation as the shadow price associated with the constraint, in this example the marginal utility of income ...
... Welfare economics is a branch of economics that uses microeconomic techniques to evaluate economic well-being, especially relative to competitive general equilibrium within an ... social welfare, however measured, in terms of economic activities of the individuals that compose the theoretical society considered ... Accordingly, individuals, with associated economic activities, are the basic units for aggregating to social welfare, whether of a group, a community, or a society ...
... Economics has been subject to criticism that it relies on unrealistic, unverifiable, or highly simplified assumptions, in some cases because these assumptions simplify the proofs of desired ... The field of information economics includes both mathematical-economical research and also behavioral economics, akin to studies in behavioral psychology ... Keynes and Joskow have observed that much of economics is conceptual rather than quantitative, and difficult to model and formalize quantitatively ...
Famous quotes containing the word economics:
“Religion and art spring from the same root and are close kin. Economics and art are strangers.”
—Willa Cather (18761947)
“There is no such thing as a free lunch.”
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cookes America (epilogue, 1973)
“Womens battle for financial equality has barely been joined, much less won. Society still traditionally assigns to woman the role of money-handler rather than money-maker, and our assigned specialty is far more likely to be home economics than financial economics.”
—Paula Nelson (b. 1945)