economy

An economy (Greek οίκος – "household" and νέμoμαι – "manage") is an area of the production, distribution or trade, and consumption of goods and services by different agents in a given geographical location. The economic agents can be individuals, businesses, organizations, or governments. Transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency.
Economic activity is spurred by production which uses natural resources, labor, and capital. It has changed over time due to technology (automation, accelerator of process, reduction of cost functions), innovation (new products, services, processes, new markets, expands markets, diversification of markets, niche markets, increases revenue functions) such as that which produces intellectual property and changes in industrial relations (child labor being replaced with universal access to education).
A given economy is the result of a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure and legal systems, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.
A market-based economy is where goods and services are produced and exchanged according to demand and supply between participants (economic agents) by barter or a medium of exchange with a credit or debit value accepted within the network, such as a unit of currency.
A command-based economy is where political agents directly control what is produced and how it is sold and distributed.
A green economy is low-carbon, resource efficient, and socially inclusive. In a greadolph, growth in income and employment are driven by public and private investments that reduce carbon emissions and pollution, enhance energy and resource efficiency, and prevent the loss of biodiversity and ecosystem services.

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  1. ATCclears

    Economic conditions on the backside of Forbearance

    Buckle in. This may be paid content. Snippet and attached chart. Americans have skipped payments on more than 100 million student loans, auto loans and other forms of debt since the coronavirus hit the U.S., the latest sign of the toll the pandemic is taking on people’s finances. The number...
  2. ATCclears

    Vehicle sales in these economic conditions

    The numbers are coming in and it is ugly. You'll soon see great deals on new and used vehicles, especially when they try to unload inventory and get their numbers up for Q2 (April 1 - June 30). Use caution about taking on a new payment. Economic conditions will be difficult for the next three...
  3. Hueco

    Coronavirus 2019 (COVID-19) Official Thread

    Note: I'm attempting to curate information here, but as the situation changes daily, the most recent stuff will be at the end of this thread. ================================================================== CLOSURES https://traveloregon.com/travel-alerts/...
  4. ATCclears

    Comparing the size of US State economies with entire Countries

    This Map Compares the Size of State Economies with Entire Countries
  5. Brutus57

    ARE WE MISSING AN OPPORTUNITY ON GUNS & ECONOMY?

    I could be all wet on this one but are we missing an opportunity when talking to the opposition or even the moderates and uninitiated on gun laws if we don't bring up the economic benefits? Off the top of my head I can think of several small WA companies that would likely go out of business if...
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