Portal:Business and economics

Portal:Business and economics
  • Wikipedia portals:
  • Culture
  • Geography
  • Health
  • History
  • Mathematics
  • Natural sciences
  • People
  • Philosophy
  • Religion
  • Society
  • Technology

The Business and economics Portal

The New York Stock Exchange floor
In the social sciences, economics is the study of human choice behavior and the methodology used in making production decisions; in particular, though not limited to, how those choices and decisions determine the allocation of scarce resources and their effect on production, distribution, and consumption. Economics studies how individuals and societies seek to satisfy needs and wants through incentives, choices, and allocations within a given set of resource constraints. Alfred Marshall in the late 19th century informally described economics as "the study of man in the ordinary business of life."

To restate it Economics is the study of how societies allocate scarce resources amongst unlimited demand. I believe in this definition completely because this definition unlike most include clean drinking water a part of economics because it is a scarce resource. There are many more unconventional examples that should be a part of the definition that are excluded when you specifically define it the way so many people define it.

The word "economics" is from the Greek words οἶκος [oikos], meaning "family, household, estate," and νόμος [nomos], or "custom, law," and hence literally means "household management" or "management of the state." An economist is a person using economic concepts and data in the course of employment, or someone who has earned a university degree in the subject.

The field may be divided in several different ways, most popularly microeconomics (at the level of individual choices) vs. macroeconomics (aggregate results), but also descriptive vs. normative, mainstream vs. heterodox, and by subfield such as econometrics which involves the statistical and mathematical representation of the subject. All of these ways of considering the subject imply a series of assumptions have been made and that a model has been envisaged, either in the minds of the economists or in fact by means of equations, diagrams, matrices, electrical mechanical or hydraulic analogies, etc.

Economics has many direct applications in business, personal finance, and government. Theories and empirical techniques developed as a part of economics have, given that economics is fundamentally about human decision making, been applied to non-monetary choices in fields as diverse as criminal behavior, scientific research, death, politics, health, education, family, dating, etc.

In economics, business is the social science of managing people to organize and maintain collective productivity toward accomplishing particular creative and productive goals, usually to generate revenue and to increase the wealth of the business's owners.

Selected article

Portal:Business and economics/Selected article/November 2011

Selected picture

Portal:Business and economics/Selected picture/November 2011

Selected economy

Portal:Business and economics/Selected economy/November 2011

Related WikiProjects

Accountancy · Business · Companies · Cooperatives · Deletion sorting · Economics · Finance · Game theory · International development · Investment · Numismatics · Private Equity · Retailing · Shopping Centers · Taxation · Trade


Business news

Market indices

Data taken from Yahoo! Finance as of 23:06, 22 November 2011 (UTC)

Index (USA) Last Change
Red Arrow Down.svg 1.86
S&P 500 (USA)
Red Arrow Down.svg 4.94
Red Arrow Down.svg 9.68
Index (World) Last Change
iBovespa (Brazil)
CAC 40 (France)
DAX (Germany)
Hang Seng (HK)
Green Arrow Up.svg 25.74
BSE Sensex (India)
Nikkei 225 (Japan)
Red Arrow Down.svg 33.53
IPC (Mexico)
Red Arrow Down.svg 141.07

Did you know...

Portal:Business and economics/Did you know/November 2011

Selected quote

Portal:Business and economics/Selected quote/November 2011


Things you can do

WikiProjects: Business and Economics

Here are some tasks you can do:

view · talk · edit

Related portals

What are portals· List of portals · Featured portals

Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Philosophy, politics, and economics — (often abbreviated to PPE) is a popular interdisciplinary undergraduate/graduate degree which combines study from the three disciplines. The first institution to offer degrees in PPE was the University of Oxford and this particular course has… …   Wikipedia

  • Portal:Architecture — Shortcut: P:ARCH Wikipedia portals: Culture Geography Health History Mathematics Natural sciences Peop …   Wikipedia

  • Business cycle — Economics …   Wikipedia

  • Business economics — Economics …   Wikipedia

  • Portal:Libertarianism — Wikipedia portals: Culture Geography Health History Mathematics Natural sciences People Philosophy Religion Society Technology …   Wikipedia

  • Economics — This article is about the social science. For other uses, see Economics (disambiguation). For a topical guide to this subject, see Outline of economics. Economics …   Wikipedia

  • Portal:Anarchism — Wikipedia portals: Culture Geography Health History Mathematics Natural sciences People Philosophy Religion Society Technology  Politics: Anarchism · Communism  …   Wikipedia

  • Economics of global warming — This article describes the economics of global warming and climate change. Contents 1 Definitions 2 Climate change science 3 Scenarios 4 Trends and projections …   Wikipedia

  • Business ethics — For the episode from the American television series The Office, see Business Ethics (The Office). Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical… …   Wikipedia

  • Business — For other uses, see Business (disambiguation). Firm redirects here. For other uses, see The Firm …   Wikipedia