What are the basics of business
Economy basics / definition
economy is a generic term that includes all institutions and activities that have to do with the production and distribution of goods or the provision of services.
Economic actors include:
- public institutions
The economy serves the purpose To satisfy human needsthat he cannot satisfy himself in a society based on the division of labor.
Since it is not possible for the residents of a city, for example, to meet their needs for food, clothing and other essential goods themselves, the production and provision of these goods must be guaranteed by the economy.
Principle of supply and demand
An essential criterion for a functioning economy is a supply according to demand. One of the greatest political controversies of the twentieth century has been how to do this. Planned economy systems with politically centrally controlled production competed with market economy systems. These rely on the fact that in a free economy every demand automatically leads to a private provider creating a corresponding offer.
- star_border 2.00 / 5 (35 votes)
whatshot Most popular articles
- What does an anesthesiologist do
- When did Islam begin
- What does the Bible say about itself
- What I'll do next after the polytechnic
- How do I learn parkour at home
- Greek believers benefit from Greek pain
- Could humans evolve to lose their intelligence
- Which is the biggest port in India
- Which is the best Hollywood movie out of date
- What is Hunan Kitchen
- Why are cars so expensive in Portugal
- What is your perfect travel destination
- How are the laws in Singapore
- What is information worth today
- Which restaurants serve Thanksgiving dinner?
- The height affects the lifespan
- Is the age difference between us okay?
- Why is corporate accounting a difficult topic
- How scary is the movie Goosebumps
- How to become a Yelp Elite
- Is Prabhas Saaho a flop film
- Is Iceland a forgotten country
- Correlates increased loneliness with aging
- Like many iPhones, Apple unveiled today