Portal:Business and economics

From Infogalactic: the planetary knowledge core
Jump to: navigation, search

Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found.

Shortcut:
The New York Stock Exchange floor

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:

  • Microeconomics studies the behavior of individual households and firms in making decisions on the allocation of limited resources. Microeconomics applies to markets where goods or services are bought and sold. It examines how decisions and behaviors affect the supply and demand for goods and services, which determines prices, and how prices, in turn, determine the quantity supplied and quantity demanded of goods and services.
  • Macroeconomics deals with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets. This includes national, regional, and global economies.

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.

US-DeptOfTheTreasury-Pre1968Seal.jpg

The United States Assay Commission were an agency of the United States government from 1792 to 1980. Its function was to supervise the annual testing of the gold, silver, and (in its final years) base metal coins produced by the United States Mint to ensure that they met specifications. Although some members were designated by statute, for the most part the commission, which was freshly appointed each year, consisted of prominent Americans, including numismatists. Appointment to the Assay Commission was eagerly sought after, in part because commissioners received a commemorative medal. These medals, different each year, are extremely rare, with the exception of the 1977 issue, which was sold to the general public.

The Mint Act of 1792 authorized the Assay Commission. Beginning in 1797, it met in most years at the Philadelphia Mint. Each year, the President of the United States appointed unpaid members, who would gather in Philadelphia to ensure the weight and fineness of silver and gold coins issued the previous year were to specifications. In 1971, the commission met, but for the first time had no gold or silver to test, with the end of silver coinage. Beginning in 1977, President Jimmy Carter appointed no members of the public to the commission, and in 1980, he signed legislation abolishing it.

Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found.

A typical North American grain farm with farmstead in Ontario, Canada.
Photo credit: Genghiskhanviet

A farm is an area of land that is devoted primarily to agricultural processes or an area of water that is devoted primarily to aquacultural processes, in order to produce and manage such commodities as fibres, grains, livestock, or fuel. It is the basic production facility in food production. Farms may be owned and operated by a single individual, family, community, corporation or a company. A farm can be a holding of any size from a fraction of a hectare to several thousand hectares.

Suggest

Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found.

Ohio quarter, reverse side, 2002.jpg

The economy of Ohio nominally would be the 25th largest global economy behind Sweden and ahead of Nigeria according to the 2013 World Bank projections, and the 24th largest global economy behind Sweden and ahead of Norway according to the 2013 International Monetary Fund projections. The state had a projected GDP of $526.1 billion in 2013, up from 517.1 in 2012, and up from 501.3 in 2011, according to the Bureau of Economic Analysis. In 2013, Ohio was ranked in the top ten states for best business climate by Site Selection magazine, based on a business-activity database. The state was edged out only by Texas and Nebraska for the 2013 Governor's Cup award from the magazine, based on business growth and economic development. A new report by the Quantitative Economics and Statistics Practices (QUEST) of Ernst & Young in conjunction with the Council On State Taxation (COST), ranks Ohio as third in the nation for friendliest tax environment.

Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found. "Sloan grabbed hold of this important modification in the marketplace and began to offer more and more different models. This "full-line" policy was General Motor's unique strategy to answer public demands. How did the automobile industry as a whole respond to this diversification?

In the transition from mass-produced Model T's to the full-line policy of General Motors, production processes became complicated. To reduce costs while making various types of cars, standard parts had to be developed for use in different models. The Ford system, however, was not modified to any great extent.

At about this time, pricing policies were actively studied and employed in response to the wide variations resulting from diversification in the marketplace. I think that in production, however, the unfinished Ford system changed little and became deeply rooted.

When building up the Toyota production system, I always kept in mind the Japanese market and its demands for many types of cars in small quantities - different from American demands for a few types in large quantities.

The Toyota production system helps production meet market demands. We now know that producing many types of cars in large quantities is economically desirable, even though the Toyota system was built on the premise of many types in small quantities for the Japanese environment. Thus, the system is proving its effectiveness in the mature Japanese market. At the same time, I think the Toyota production system can be applied in America where the market for many types in large quantities has existed since Sloan's time."

Taiichi Ohno, Toyota Production System, English edition of 1988
Suggest

Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found.

Urgent and important articles are bold


Here are some tasks awaiting attention:

Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found.

Template:/box-header

Template:/box-footer

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.

11:31, 01 June, 2016 (UTC)
4,948.06 Steady Steady %
2,096.96 Decrease 2.10 Decrease 0.10%
14,065.78 Steady Steady %
45,459.45 Steady Steady %
6,170.96 Decrease 59.83 Decrease 0.96%
10,171.27 Decrease 91.47 Decrease 0.89%
4,464.47 Decrease 41.15 Decrease 0.91%
8,177.97 Decrease 38.45 Decrease 0.47%
444.72 Decrease 3.15 Decrease 0.70%
3,492.55 Decrease 21.51 Decrease 0.61%
8,910.50 Decrease 123.50 Decrease 1.37%
5,395.17 Decrease 52.63 Decrease 0.97%
16,955.73 Decrease 279.25 Decrease 1.62%
20,760.98 Decrease 54.11 Decrease 0.26%
2,914.21 Decrease 2.41 Decrease 0.08%

Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found. March 19:

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.


Wikipedia's Portals
Purge cache