Business
Cryptocurrency trading should be regulated in the same way as gambling, according to the UK parliamentary select committee in charge of scrutinizing finance. The committee published a report arguing that this was necessary ...
May 24, 2023
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15
Electronics & Semiconductors
Germany is seeking to lead a European charge to boost chip production with a series of mega-investments but the drive faces challenges ranging from high energy prices to subsidy rows and worker shortages.
May 24, 2023
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13
Business
Considering its disruptive impact, the sharing economy makes suspiciously modest claims for itself, beginning with its very name. Companies such as Uber and Airbnb purport to provide platforms for sharing value from underutilized ...
May 22, 2023
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18
Business
Britain's government unveiled its long-awaited semiconductor strategy Friday, catching up with similar efforts by Western allies seeking to reduce reliance on Asian production of the computer chips that are essential to modern ...
May 19, 2023
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5
Energy & Green Tech
The green hydrogen economy is a sustainable alternative to fossil fuels. However, one of the challenges of constructing a global hydrogen economy is hydrogen transportation by sea. A new paper proposes solid air as a medium ...
Apr 28, 2023
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39
Consumer & Gadgets
When you buy a product, you expect to be able to repair it. The problem is, many modern products are designed so that you can't fix them. Vital parts are inaccessible. Or you have to go through the manufacturer, which may ...
Apr 17, 2023
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8
Engineering
In the wake of Cyclone Gabrielle, New Zealand is again talking about "building back better". But how do we build back better when we don't necessarily understand what "better" means? Or how to achieve this across a country ...
Apr 13, 2023
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4
Energy & Green Tech
As automobile electrification speeds up, the world faces an overwhelming need for critical metals and minerals to make atmosphere-saving electric vehicles possible.
Apr 11, 2023
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48
Consumer & Gadgets
Shipments of Apple Macs plunged during the first quarter of this year as the global personal computer market suffered due to tough economic conditions, market research reports said on Monday.
Apr 10, 2023
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31
Energy & Green Tech
From secondary schools to universities, trades to big business, Australia lacks the hydrogen skills and training capabilities it needs to achieve its newly-legislated carbon reduction targets, according to new research by ...
Mar 28, 2023
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3
An economy (or "the economy") is the realized economic system of a country or other area. It includes the production, exchange, distribution, and consumption of goods and services of that area. The study of different types and examples of economies is the subject of economic systems. A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, among other factors. These factors give context, content, and set the conditions and parameters in which an economy functions.
Today the range of fields of study exploring, registering and describing the economy or a part of it, include social sciences such as economics, as well as branches of history (economic history) or geography (economic geography). Practical fields directly related to the human activities involving production, distribution, exchange, and consumption of goods and services as a whole, range from engineering to management and business administration to applied science to finance. All kind of professions, occupations, economic agents or economic activities, contribute to the economy. Consumption, saving and investment are core variable components in the economy and determine market equilibrium. There are three main sectors of economic activity: primary, secondary and tertiary.
The word "economy" can be traced back to the Greek word "one who manages a household", derived from οἴκος, "house", and νέμω, "distribute (especially, manage)". From οἰκονόμος "of a household or family" but also senses such as "thrift", "direction", "administration", "arrangement", and "public revenue of a state". The first recorded sense of the word "economy", found in a work possibly composed in 1440, is "the management of economic affairs", in this case, of a monastery. Economy is later recorded in other senses shared by οἰκονομία in Greek, including "thrift" and "administration". The most frequently used current sense, "the economic system of a country or an area", seems not to have developed until the 19th or 20th century.
This text uses material from Wikipedia, licensed under CC BY-SA
