Home > Blossary: Basic Economy
It serves those who have just studied economy because it includes basic terms that they need to know and understand the economy world. It is really useful.

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32 Terms

Created by: Fatima

Number of Blossarys: 1

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A production technique which uses a high proportion of capital to labour.

Domain: Economy; Category: Economics

One of the fundamental economic theories in the operation of any economy.

Domain: Economy; Category: Economics

Systematic approach to determining the optimum use of scarce resources, involving comparison of two or more alternatives in achieving a specific objective under the given assumptions and constraints.

Domain: Economy; Category: Economics

A pervasive condition of human existence that exists because society has unlimited wants and needs, but limited resources used for their satisfaction.

Domain: Economy; Category: Economics

It provides an outlet for research in all areas of economics based on rigorous theoretical reasoning and on topics in mathematics that are supported by the analysis of economic problems.

Domain: Economy; Category: Economics

Belief on which economic model is based.

Domain: Economy; Category: Economics

A specialized term which refers to real objects owned by individuals, organizations, or governments to be used in the production of other goods or commodities.

Domain: Economy; Category: Economics

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