Editing Economics
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* '''''[[w:Economics|Economics]]''' is the [[w:Social sciences|social science]] that analyzes the [[w:Production theory basics|production]], [[w:Distribution (economics)|distribution]], and [[w:Consumption (economics)|consumption]] of [[w:Good (economics and accounting)|goods]] and [[w:Service (economics)|services]].'' ( Wikipedia ) | * '''''[[w:Economics|Economics]]''' is the [[w:Social sciences|social science]] that analyzes the [[w:Production theory basics|production]], [[w:Distribution (economics)|distribution]], and [[w:Consumption (economics)|consumption]] of [[w:Good (economics and accounting)|goods]] and [[w:Service (economics)|services]].'' ( Wikipedia ) | ||
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= Year 1= | = Year 1= | ||
= Business Economics = | = Business Economics = | ||
== Week 43 - Markets, scarcity and decisions == | == Week 43 - Markets, scarcity and decisions == | ||
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* [[w:Category:Commerce]] ( [[w:Commerce]] ) | * [[w:Category:Commerce]] ( [[w:Commerce]] ) | ||
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= Year 2= | = Year 2= | ||
= Global Business Environment = | = Global Business Environment = | ||
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== Week 36 - Classical trade theories == | == Week 36 - Classical trade theories == | ||
* ''' | * {{Q|'''Factors of production''' are the ''inputs'' to the production process. ''Finished goods'' are the ''output''. Input determines the quantity of output i.e. output depends upon input. Input is the starting point and output is the end point of production process and such input-output relationship is called a [[w:production function|production function]]. There are three ''basic'' (AKA classical) factors of production: '''[[w:land|land]], [[w:Labor (economics)|labor]], [[w:Capital (economics)|capital]]'''|Wikipedia|[[w:factors of production|factors of production]]}} | ||
* '''Gross domestic product''' ('''[[w:GDP|GDP]]''') is the [[w:market value|market value]] of all officially recognized final goods and services produced within a country in a given period of time. GDP [[w:per capita|per capita]] is often considered an indicator of a country's [[w:standard of living|standard of living]] ( Wikipedia ) | * '''Gross domestic product''' ('''[[w:GDP|GDP]]''') is the [[w:market value|market value]] of all officially recognized final goods and services produced within a country in a given period of time. GDP [[w:per capita|per capita]] is often considered an indicator of a country's [[w:standard of living|standard of living]] ( Wikipedia ) | ||
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== Sidebar somewhat broken == | == Sidebar somewhat broken == | ||
{{Economics sidebar}} | {{Economics sidebar}} | ||