What Are Tokens In Economics?
Tokens are non-monetary items that give people or entities incentives to make a desired economic decision or exhibit a...
What Is A Central Bank Or A Reserve Bank?
Central banks allow for governments to control the flow and supply of money, set interest rates, and influence the stability of their respective...
What Is A Subsistence Economy?
A subsistence economy is a non-monetary economy wherein basic needs are fulfilled by the acquisition and use of natural resources on the personal,...
The Economy Of Taiwan
The economy of Taiwan is the 5th largest economy in Asia and the 15th largest economy in the world in terms of Gross Domestic Product.
What Is Development Economics?
The field of study looks at the progress developing nations are making in improving various socioeconomic aspects.
What Does Gold Standard Money Mean?
Currencies and monetary systems based on elemental gold are said to use the Gold Standard.
What Is A Value-Added Tax (VAT)?
VATs are imposed in increments at each stage of the development, production, and/or use of a good or service where monetary value is added.
What Does Value Added Mean?
Value added is the incremental profit earned from each transaction or step in manufacture after deducting production costs, depreciation, and other...
Physiocracy Theory In Economics
The idea that the use of land for agriculture determined national and personal wealth was a popular idea in 1700s Europe.
What Does Feminist Economics Mean?
The disciplines analyzes the role of women in the economic realm, and the longstanding socioeconomic and cultural biases they must overcome.
The Economy Of The United Kingdom
The United Kingdom has the world's fifth largest economy by GDP (nominal), and the second largest economy in the European Union.
The Economy Of Italy
Italy's economy is one of the largest in the world, and is also the Euro Zone's third-largest economy by nominal GDP.
The Economy Of Argentina
Argentina has a high-income economy, and one which is the second largest in South America after Brazil.
What Are Inferior Goods And Normal Goods?
The amount of income a person or household earns is a key factor in the quantity and quality of goods and services they purchase.
What Is A Trade Bloc, And Why Are They Formed?
Trade blocs are formed to allow trade to occur between different countries in a largely unrestrained fashion, similar to that occurring within...
The Economy Of Bolivia
According to the World Bank, Bolivia is a lower middle income country and has the 95th largest economy in the world.
What Was The Second Industrial Revolution?
In the half-century preceding World War I, heavy industry, telecommunications, and transportation were revolutionized.
The Economy Of China
The socialist market economy of China is the second largest in the world by nominal GDP, and the largest one by GDP Purchasing Power Parity.
What Is Corporate Capitalism?
In many developed nations today, large corporations dominate economic output and the labor markets.