What is meant by economizing?
What people usually seem to mean is to cut costs. Putting less into a product or service in hopes of getting more out of it. There is a limit though to economizing. You can cut or control people wages for so long before they look for work elsewhere. You can find less expensive inputs into the products you make but quality eventually suffers. Economizing is fine so long as you keep it in perspective or you'll find economize can cost a lot in the end.
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socioeconomic factor is nothing but the study of society, culture which is prevailing in that area.
The science that studies human behavior as a relationship between ends and scarce means which have alternative uses.
The adjective "economic" applies to an "economy", often specifically to some region, country, state, or local area. Economics includes retail sales, trade, public works, capital management, and other financial activity. It pertains to fiscal activities by governments, corporations, and private busin…esses. (MORE)
issues involving the economy and the social lives of citizens. Answer: (merged from discussion) This term can be defined in a bit easier way by saying that it involves the good use of resources for betterment of society.
Goods or services that pertains to the same function. They are close substitutes with distinguishable features i.e. different packaging, shape size etc, unlike Homogenous goods which are undifferenciated
The term socioeconomic issues refers to social issues that effectan individual's economic and social standing. Poverty for exampleis a major socio-economic issue.
Personally I don't "have" it, however the subject is regarded as a necessary part of living on both a personal level and on a national one. Economics provides us with the means of describing and to some degree understanding the relationship between the efforts that we make and the value of the resul…ts that we (partially) enjoy. Since the following two axioms are fundamental to this subject, it is then possible to reason in this subject and to learn more about its significance to our community.. "Man seeks to satisfy his needs with the minimum of exertion". "Man's desires are unlimited". These two axioms were first proposed by Henry George (North American 19th centuary) , the first economist who seriously tried to put this subject on a scientific basis. (MORE)
Economics is the branch of social science that studies the production, distribution , and consumption of goods and services . The term economics comes from the Greek for oikos (h. ouse) and nomos (custom or law), hence "rules of the house(hold). Modern economics developed out of the b…roader field of political economy in the late 19 th century, owing to a desire to use an empirical approach more akin to the physical sciences. The subject thus defined involves the study of choices as they are affected by incentives and resources. . Areas of economics may be divided or classified into various types, including:. microeconomics and macroeconomics . positive economics ("what is") and normative economics ("what ought to be") . mainstream economics and heterodox economics . fields and broader categories within economics. . source: www.en.wikipedia.org (MORE)
To economize is lower expenses, to spend less on monthly bills.When it comes to a car, to economize means to spend less on fueland other costs incurred.
economic system means the economic atmosphere of the country.It means which type of system a country have whether it have socialist economy,capitalistic economy or mixed economy.
Truthfully, this could go under the philosophy section. Our purpose on Earth has been a subject that has tried the minds of philosophers and great thinkers since time immemorial. It is what inspired religion, founded science. Yet over thousands of years, the question is unanswered. That's because th…ere IS no answer. You must search into yourself, and only you can decide this question's answer for yourself. (MORE)
Economics is about a government's or a society's exchange of goods and services. For instance, the tax system, tax rates, national debts, finances, banking systems, jobs/income, stocks, and everything else that is related to money. One section of economics is the theory of what you can do with a …limited supply. For example, how changes can increase or decrease wealth (e.g. technological innovations, depreciation). It is also the study of the person (producer or consumer). Rational thinking, happiness and game theory often come into consideration. For example why do you choose x over y? Or why is the economic power of crowds more knowledgeable than that of individuals? Economics can also be defined as "The study of choice making by individuals, institutions, societies, nations and the world, under conditions of scarcity and surplus, towards maximizing benefits and satisfying the unlimited present and future needs." The subject Economics is defined as the "Study of choices by all in maximizing production and consumption benefits with the given resources of scarce and surplus, for present and future needs." Macro-economics and micro-economics Economics is generally divided into two sub categories, macro-economics and micro-economics. Macro deals with the overall performance indicators of an entire economy. So it involves things like government spending, GDP and unemployment rates. It includes models that explain relationships between national income, aggregate output and inflation. Micro on the other hand studies and deals with market mechanisms. This mainly includes studying households and firms and how they come together to allocate limited resources. This determines the price of goods and services and this relates to quantity demanded and quantity supplied. Most of the macro principles are built on micro concepts. (see the related questions) (MORE)
The branch of social science that deals with the production, consumption and distribution of goods, services and their management. This includes capital and raw materials as well as labor and more abstract resources. Economics can be defined as the study of human commercial transactions and the var…ious forms of social organization that facilitate such transactions. --- It can also be defined as the study of how individuals and nations make decisions on how to use scarce resources to fill unlimited wants and needs. --- The word economics comes from a Greek word Oikou-Nomos or Oikonomia, meaning "household management". ---Economics can also be defined as "The study of choice making by individuals, institutions, societies, nations and the world, under conditions of scarcity and surplus, towards maximizing benefits and satisfying the unlimited present and future needs." The subject Economics is defined as the "Study of choices by all in maximizing production and consumption benefits with the given resources of scarce and surplus, for present and future needs." The branch of social science that deals with the production, consumption and distribution of goods, services and their management. The study of how individuals and nations make decisions on how to use scares resources to fill the unlimited wants and needs One other definition is: Economics is social science that studies the relationship between unlimited ends and relatively scarce resources which have alternative uses.Economics is a science which study humans behavior in a relationship between end and scarce means. (MORE)
Recession means decrease in the employment rate, investment rate, profit rate of the economy, Idea of a downswing/downturn in a business or trade cycle. The Economic growth will be negative. If the recession period increase then this will be called depression.
What is meant by Charles Beard's thesis that the founding fathers were a conspiratiorial economic elite?
What Beard meant when he said that the founding fathers were a conspiratorial economic elite, he simply meant that the founding fathers were out for the elite group of society. Most of the laws first set forth by the constitution were for the wealthy, not for the everyday people. The founding father…s were out for their own economic interests (MORE)
The term socioeconomic refers to how economic and social activitiesaffect one another. Many disciplines such as ethics and socialphilosophy fall under this umbrella.
Economics is mainly the study of how people and society chose utilize their scarce resources to satisfy their unlimited needs and wants. When there is limited resources you will have a choice in which what needs and wants will you fully utilise them in and this this where the concept of … opportunity cost (Next best Alternative) comes where you will have to chose which option is the best in you can use you resources in. E.g. you have $5. 1st option movies cost $5 2nd option Lunch cost $5 Since you only have $5 which option would be the best inorder to satisfy your unlimited need and want? do you really need to watch the movie? no but do you need to eat? yes So your best alternative to use that limited resource is buying your lunch. Eliki Waqavakatoga (MORE)
Economic problem is the problem regarding allocation of limited resources for the production of alternative goods and services. in other words, economic problem is the 'problem of choice'. Since the resources are scarce and they have alternative uses, there arises the problem of choice regarding the… use of these resources. The law of scarcity states that goods are scare because there are not enough resources to produce all goods that people want to consume. Thus, Economic Problem is the 'problem of relative scarcity' and the 'problem of choice' arising therefrom. The basic economic problems of an economy are given below: . What to produce and how much to produce? . How to produce? . For whom to produce? . Problem of fuller utilisation of resources. . Problem of efficiency in utilisation of resources. . Problem of economic growth. (MORE)
The term 'global economic crisis' refers to the current period of global recession from a period of very fast growth, brought on by poorly controlled economic conditions. Although it was present in many of European countries, the main cause is said to be irresponsible 'sub-prime' lending by banks… and financial institutions in the USA, as it was made viable economically if lenders did not realistically expect a return. As a result, the crisis deepens as confidence in all markets drops, causing a chain reaction that started in the finance sector. (MORE)
Classical economics is more of a right wing take on the economy. The essential belief behind it is that markets will sort out themselves when in trouble. Classical economists don't believe that increased demand can get us out a recession and that increasing the efficiency of the economy is the only …way to achieve growth. Keynesian economics is more of a left wing take on the economy. Keynesian economists believe in governmental intervention and that increasing demand (often through government) can also result in growth as well as increasing the efficiency of an economy. This view has become more popular since the 2008 recession. On inflation, Keynesian economists believe that it isn't inevitable with increased employment while Classical economists believe that increased employment without growth will inevitably lead to inflation. (MORE)
' http://wiki.answers.com/Q/How can we use purchasing mmanagement function to solve global economic meant down ' IN A NUT SHELL.............. good luck. The movement of money is the fundamental portion that must be met for an economy of any stage to continue growth. 1). The promise of payment gen…erates a purchase. 2). This promise has then met an earlier requirement for a sale, ie someone is in business and needs this to continue the business. 3). The earlier requirement is a process of manufacture if before time (1), or a provision of service if after time (1). 4). This process generates work and hence this work is filled with employment. 5). Employment generates requirement for other promises. 6). The final part is that the promise is met, and that is for filled by currency, which is a barter chip. 7). If the cycle can be continued, wealth from work, will expand this cycle and hence cause growth, slowing the cycle will cause melt down. 8). The balance is finding the value link between the promise, the barter chip (money) and the product or service. The balance is broken right now, because the chip was given when the value was worthless causing the promise to be broken and who wants broken promises? (MORE)
One section of economics is the theory of what you can do with a limited supply. For example, money in the economy and how different elements can increase or decrease everyones wealth, eg technological innovations, depreciation etc. It is also the study of the person. Rational thinking, happiness… and game theory often come into consideration. For example why do you choose x over y? Or why do the power of crowds know more than individuals? For some its quite a daunting subject, but in practice its really quite simple. I know many who are instantly turned off when you show them a simple equation like Y = C + I + G + (X-M) but when its broken down for you its quite easy really, for me anyway! (MORE)
Global Markets means exactly what the word implies the markets in general worldwide, for example when the gas prices were high, they were not just high in the us market but also mostly world wide in the global market. You can just google the word World Market and click on the links that lead you to …a dictionary for further reference. (MORE)
Modern Definition of Economics Prof.A.C.Dhas defines economics as " The study of choice making by individuals, institutions, societies, nations and globe under conditions of scarcity and surplus towards maximizing benefits and satisfying the unlimited present and future needs .". In short, ac…cording to Prof.A.C. Dhas, the subject Economics is defined as the " Study of choices by all in maximizing production and consumption benefits with the given resources of scarce and surplus, for present and future needs. ". Economics is generally divided into two sub categories, macro-economics and micro-economics. Macro is more deals with the over all performance indicators of the whole economy. So things like government spending, GDP and unemployment rates. It includes models that explain relationships between national income, aggregate output and inflation. Micro on the other hand studies and deals with market mechanisms this mainly includes studying households and firms and how they come together to allocate limited resources. This determines the price of goods and services and this relates to quantity demanded and supplied. Most of the macro principals are built on micro concepts. Prof.A.C.Dhas defines economics as " The study of choice making by individuals, institutions, societies, nations and globe under conditions of scarcity and surplus towards maximizing benefits and satisfying the unlimited present and future needs .". In short, the subject Economics is defined as the " Study of choices by all in maximizing production and consumption benefits with the given resources of scarce and surplus, for present and future needs. " . (MORE)
Economizing of recourse's is meant by that an economy produces the highest combination of quantity and quality of goods and services given its technology and scares resources.
If you're wanting to know job opportunities - alot of things! Economics is a good well rounded subject to have, but it depends what other experience you have. Economist, policy analyst, consultant, business advisor are just a few options.
those resources which are used for economic activity are called economic resources . this is usually known as F.O.P land labour capital manager
The possibility that an economic downturn will negatively impact an investment. For example, launching a luxury product immediately before or during a recession carries a great deal of economic risk. Economic risk is closely related to political risk as government decisions impacting the economy may… also affect an investment. For example, a central bank may raise interest rates or the legislature may raise taxes, and this may result in economic conditions impacting an investment. (MORE)
A rapid expansion of GDP over a period of time. (plato tests are boring, eh?) Yes, yes they are(:
The fators on which the economy depends are called the Factors of production.These factors are in fact the agents of production.They are used to assist the production of goods and services.The Factors used in the production process are called the IMPUTS and the resulting finished goods are called th…e OUTPUTS.The factors are divided into land,labour,capital and entrepreneurship. (MORE)
Scarcity is where there is insufficient and inadequate amounts of something. In economies, resources are scarce, or limited due to the producer, consumer and government demand for them. Every resource in the world is scarce, or in short supply so economics studies and addresses the scarcity by showi…ng where societies demand the resources and deciding where they should be allocated. . ~MB (MORE)
Scarcity is our limited resources but unlimited wants.The problem of scarcity is that our wants are always beyond what we can produce with our resources.
1. A covert agent or mercenary of economics specializing in unorthodox arts of economics. The functions of the ninja included espionage, sabotage, infiltration, and assassination, as well as open economic combat in certain situations. 2. A passive-aggressive economic policy. 3. To travel in disg…uise to other economic territories to judge the situation of the economic enemy, they would inveigle their way into the midst of the economic enemy to discover flaws, and enter enemy economic system to disrupt the system, and carried out economic model assassinations, arriving in secret. (MORE)
Cheshire cat in Alice in Wonderland. No, actually Horton in Horton Hatches an Egg. "I meant what I said and I said what I meant; an elephant's faithful one hundred per cent."
we can look utility in two angles product angle it is wants and need satisfying property of c ommodity. consumer angle it is psychologiccal happiness ,pleasure,derived by consumer after consumption.
Micro Economics:- It is that part of economic theory which studies individual units of economy. For eg: Individual firm, Individual income, Individual household Macro Economics: It is that part of economics theory which studies the economy as a whole. For eg: National income, price level, capital …formation. Microeconomics is concerned with specific individual units of the economy such as one firm and it's details for example. Macroeconomics is concerned with the economy as a whole and deals with major issues such as inflation, unemployment, population growth, etc. Micro is small, macro is bigger. According to Craven(1990) microeconomics is concerned with the firm, the consumer production and selling, the demand and supply of goods and services while macroeconomics is concerned with how national economy operates, employment and unemployment, inflation, national production and consumption and money supply in a country (MORE)
using resources in best way and to their full capacity is known as economizing of resources
Total utility is the aggregate sum of satisfaction or benefit that an individual gains from consuming a given amount of goods or services in an economy .
Managerial techniques for select best element from several alternatives to maximize the effectiveness or the performance of the organization. Ravi Kumudesh
It means to make the best of what you have, what you can do with it and the best of where you are at the time. Say you're camping and there's no electricity so you can't plug in your electric coffee pot. You have coffee, drinking water, a pot. You're in the woods so you have wood that you can sta…rt a campfire with. Perhaps you've got some eggs, too. You can make camping coffee. You put your water, your coffee grounds in and some egg shells (not the egg). Well you boil it all together and the egg shells cause the grounds to settle at the bottom of the pot and Voila, you've got coffee! That's an example of doing what you can with what you have where you are. (MORE)
Economics is about making efficient uses of scarce resources. This is about learning how people in their daily lives make decisions of allocating scarce amount of resources - time and budget - they possess, to meet their numerous desires. At occasions many of you may have wished you had more incom…e and more time. For example, during finals students wish they had more time to prepare for exams. Unfortunately, income and time are not plenty, they are scarce. But, the number of wants that one seeks to satisfy from his/her limited income or time are numerous or unlimited. The scarcity of resources, therefore, forces everyone to make choices from their long list of wants. (MORE)
The scope of business economist expends to those fields of activity which are earned out bybusiness organisations ,business economists is concerned with solving all problems pertaining to business affairs.it referrs to policies of planing and development of business .The matter of bussiness economic…s is classified under the following broad heads:- a) consumer analysis with special emphasis on demand analysis and forecasting b)production and cost analysis. c)pricing decisions,policies&practice. d)profit managament. e)capital management. f)decision making. (MORE)
Most of the time, anyone talking about the post war period, is referring to the period following WW II (which ended in 1945). However, when they talk about the antebellum South (antebellum meaning before the war) they mean the Civil War, not WW II.
What is meant by the phrase Austrian Economics is the way economists look at the market.Carl Menger , the founder of the Austrian School, spelled out the subjective basis of economic value and showed how money originates in a free market.
The question or interrogatory, 'What can you do' (followed with aquestion mark) asks a person to state or list the knowledge orskills they possess to handle a particular circumstance or problem.For examples: . The man asked the washer repair person 'What can you do?' Hehoped the repairman knew the… mechanics of washing machines andcould do the repair correctly. In a different kind of meaning: . A teen boy told his friend about a problem that was toochallenging for a boy only 14 years old to solve. He witnessedsomeone doing something wrong, but was scared to tell anyone. Theboy said, "I guess I need to go tell my dad." His friend answered,"What else can you do?" That means the boy arrived at the onlylogical choice or solution. (MORE)
The term 'economic stagnation' means a period of slow economic growth. Depending on the definition of the term, this means growth less than around 2% per year or significantly less than the growth predicted by experts. Causes can be poor economic policy, catastrophes and demographic developments.
In the field of economics the term signalling is where a party or group credibly shares information about itself with another party. One common example would be a job applicant provides education credentials which shows a credible ability in that area of study.
In terms of economics, compounded interest means the interest earned from the principal and added interest. In many cases, this method is always used by some internet scammers to lure people to invest.
Assessing what impact and effect a new act or invention would be onthe economy and society at large where such an act or invention isintroduced.
It was initially intended to be such. Benito Mussolini had gottenhis start in politics as a Socialist writer and theorist, but hebroke with the Italian Socialists during World War I. After thewar, he was one of the major founders of Fascism, and, whileFascism was decidedly right-wing (in many ways, …the opposite ofSocialism), he nevertheless brought with him some of the Socialistpro-labor ideas. However, in practice, Fascism wound up not being very pro-labor. Itcreated a system called "corporatism"- in short, this system set upamalgamations of big businesses and government agencies that wouldwork together to control the Italian economy. In this system, theworkers wound up having very little power or rights, and unionswere either abolished or replaced with new unions under the controlof the corporatist agencies. To keep the working class under control, extensive propagandaefforts and powerful police agencies kept things in line. A cult ofpersonality tried to make the people practically worship Mussolini.Italy began attacking other countries, such as Albania andEthiopia, to try to conquer them and create a new Roman Empire.These early successes made Mussolini's government popular, despiteMussolini eliminating the people's freedom. (MORE)