Portal:Business and economics
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Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found.  In the social sciences, economics is the study of human choice behavior and the methodology used to make associated investment and production decisions; in particular, though not limited to, how those choices and decisions determine the allocation of scarce resources and their effect on production, distribution, and consumption. The word "economics" is from the Greek words οἶκος [oikos], meaning "family, household, estate", and νόμος [nomos], or "custom, law", and hence literally means "household management" or "management of the state". An economist is a person using economic concepts and data in the course of employment, or someone who has earned a university degree in the subject. Economics undergraduate courses always cover at least the two main branches:
However, there are also other sub-fields of economics. In economics, economic systems is the study and analysis of organizing production, distribution, consumption and investment and the study of optimal resource allocation and institutional design. Traditionally the study of economic systems was based on a dichotomy between market economies and planned economies, but contemporary studies compare and contrast a number of different variables, such as ownership structure (Public, Private or Collective), economic coordination (planning, markets or mixed), management structure (Hierarchy versus adhocracy), the incentive system, and the level of centralization in decision-making. An economy can be analyzed in terms of its economic sectors, the classic breakdown being into primary, secondary and tertiary. A business, also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers. Businesses are prevalent in capitalist economies, where most of them are privately owned and provide goods and services to customers in exchange of other goods, services, or money. Businesses may also be not-for-profit or state-owned. Management in business and organizations is the function that coordinates the efforts of people to accomplish goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization or initiative to accomplish a goal. Management is also an academic discipline, and is traditionally taught at business schools. Economic policy refers to the actions that governments take in the economic field. It covers the systems for setting interest rates and government budget as well as the labor market regulations, national ownership, trade policy, monetary policy, fiscal policy, regulatory policy, anti-trust policy and industrial policy. In economics, sustainable development refers to development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found. Richard Cantillon (1680s – May 1734) was an Irish-French economist and author of Essai sur la Nature du Commerce en Général (Essay on the Nature of Trade in General), a book considered by William Stanley Jevons to be the "cradle of political economy". Although little information exists on Cantillon's life, it is known that he became a successful banker and merchant at an early age. His success was largely derived from the political and business connections he made through his family and through an early employer, James Brydges. During the late 1710s and early 1720s, Cantillon speculated in, and later helped fund, John Law's Mississippi Company, from which he acquired great wealth. However, his success came at a cost to his debtors, who pursued him with lawsuits, criminal charges, and even murder plots until his death in 1734. Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found.
Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found.  The economy of Iran is a mixed and transition economy with a large public sector. Some 60% of the economy is centrally planned. It is dominated by oil and gas production, although over 40 industries are directly involved in the Tehran Stock Exchange, one of the best performing exchanges in the world over the past decade. With 10% of the world's proven oil reserves and 15% of its gas reserves, Iran is considered an "energy superpower". It is the world's eighteenth largest by purchasing power parity (PPP) and thirty-second by nominal gross domestic product. The country is a member of Next Eleven because of its high development potential. A unique feature of Iran's economy is the presence of large religious foundations called Bonyad, whose combined budgets represent more than 30% of central government spending. Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found. "And out of the delusion that life is a battle that may be lost by a false move grows, I have noticed, a great love for regularity. Men fall into the half-alive habit. Seldom does the cobbler take up with the new-fangled way of soling shoes, and seldom does the artisan willingly take up with new methods in his trade. Habit conduces to a certain inertia, and any disturbance of it affects the mind like trouble. It will be recalled that when a study was made of shop methods, so that the workmen might be taught to produce with less useless motion and fatigue, it was most opposed by the workmen themselves. Though they suspected that it was simply a game to get more out of them, what most irked them was that it interfered with the well-worn grooves in which they had become accustomed to move. Business men go down with their businesses because they like the old way so well they cannot bring themselves to change. One sees them all about--men who do not know that yesterday is past, and who woke up this morning with their last year's ideas. It could almost be written down as a formula that when a man begins to think that he has at last found his method he had better begin a most searching examination of himself to see whether some part of his brain has not gone to sleep. There is a subtle danger in a man thinking that he is "fixed" for life. It indicates that the next jolt of the wheel of progress is going to fling him off."
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Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found. Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found. Wikinews Economy and business portal
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| 11:31, 01 June, 2016 (UTC) | |||
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Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found. April 9:
- 1930 - Wallace McCain, a Canadian businessman, founder of McCain Foods, was born on this day.
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- ...that Robert Solow, a Nobel Laureate American economist, was awarded the National Medal of Science in 1989 for "his creation of the modern framework for analyzing the effects of investment and technological progress on economic growth"?
- ... that David Ricardo formulated the principle of comparative advantage in his "On the Principles of Political Economy and Taxation" book?
- ... that the Heckscher–Ohlin model was developed by Bertil Ohlin in 1933?
- ... that Paul Krugman introduced returns to scale to the field of international trade, now referred to as new trade theory?
- ... that the term lean manufacturing was coined in the book The Machine that Changed the World?
- ... that the Nobel Memorial Prize in Economic Sciences was not created by the will of Alfred Nobel?
- ... that the Federal Reserve System was created in the aftermath of the panic of 1907?
- ... that Manufacturing resource planning was developed at IBM?
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