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- Dictionaryeconomic/ˌiːkəˈnɒmɪk/
adjective
- 1. relating to economics or the economy: "the government's economic policy"
- 2. justified in terms of profitability: "many organizations must become larger if they are to remain economic" Similar Opposite
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Nov 21, 2023 · Economic resources are components used to produce goods or services for consumption or use. Economic resources can also be defined as factors of production. While money is one type of economic ...
Nov 21, 2023 · Economic systems are the basic way that groups of people allocate and produce resources. It consists of a system that must answer what, how, how much, to whom, and when goods and services are ...
Nov 21, 2023 · Define specialization as it relates to economics ; ... A key advantage to economic specialization is the ability to produce specialized goods efficiently, ...
Nov 21, 2023 · Economic Output: The economic output of a country is measured as the gross domestic product (GDP). It is defined as the total value of all produced goods and services in an economy.
Nov 21, 2023 · An economic student is looking at the relationship between the stock market and the unemployment rate over the past 30 years in an attempt to determine whether or not it is a ... Define economics ;
Nov 21, 2023 · The 5 basic economic principles include scarcity, supply and demand, marginal costs, marginal benefits, and incentives. Scarcity states that resources are limited, and the allocation of resources ...
Nov 21, 2023 · Economic loss is any financial loss that is experienced by an individual, business, or entity. Economic loss excludes personal injury, which is regulated by tort law instead. Economic loss is the ...
Chapter 45 / Lesson 3. 9.3K. Economics isn't always the root of global conflict. This lesson explores how economics impacts national relations and examines piracy, the hunt for resources, and the denial of market access. Answer to: Define economic conflict By signing up, you'll get thousands of step-by-step solutions to your homework questions.
Nov 21, 2023 · Economic development is an investment in growing the economy and improving people's livelihoods and prosperity. At its core, economic development in a country or region is a reflection of the ...
Nov 21, 2023 · The leading causes of economic fluctuations include: Changes in the level of employment. Variations in productivity. Change in aggregate demand and supply for goods and services. Aggregate demand ...
