The American Economic Association states that the study of economics is primarily concerned with how people use resources, such as people's time and talent, land, equipment, products and services. Economists and students... More »

Economic diversity is a multidimensional concept that includes the products, workforce skills and capabilities in a local economy, in addition to how well that economy is able to compete in the global marketplace, accord... More »

Economics and economic education are important for providing people with valuable insight into how foreign and domestic markets operate, which allows them to make reasoned and rational choices for short-term and long-ter... More »

Both history and economics involve the study of events and patterns that have occurred over time and affect the present. This can be put together to be referred to as economic history, which helps people understand all p... More »

In economics, a price searcher is a person who sells products, goods or services and influences the price of the item by the amount of units sold of each of these commodities. Price searchers generally set their own pric... More »

According to Investopedia, microeconomics is the study of decisions made by people and businesses regarding the allocation of resources and prices of goods and services, while macroeconomics is the study of the behavior ... More »

In economics, land, labor, capital and entrepreneurship are known as the four factors of production. They are given this label because each plays a role in the production of business and industry that impacts the economi... More »