Economics

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Economics is the study of the value system and rewards of a particular society.

Business

Main sources: Income/Business and Business

A business is a legally recognized organizational entity designed to provide goods or services.[1]

Def.

  1. a "person's occupation, work, or trade",[2]
  2. an activity that someone is engaged in,
  3. work that has to be done or matters that have to be attended to, or
  4. the practice of making one's living by engaging in commerce

is called a business.

Money

Main sources: Income/Money and Money
This image depicts units of currency issued by the United States of America. Credit: the United States government.

Def. a current medium of exchange in the form of coins and banknotes is called money.

Trade

Main sources: Income/Trade and Trade

Def.

  1. buying "and selling of goods and services on a market"[3] or
  2. an "instance of bartering items in exchange for one another"[3]

is called trade.

Theoretical economics

Def. "a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses"[4] is called economics.

Alternately,

Def. a science that studies the production, consumption, and transfer of wealth is called economics.

Hypotheses

Main source: Hypotheses
  1. The economics of entrepreneurship favors an open market.

See also

References

  1. Wikipedia: Business (disambiguation)
  2. "business, In: Wiktionary". San Francisco, California: Wikimedia Foundation, Inc. 11 April 2015. Retrieved 2015-05-18. 
  3. 3.0 3.1 "trade, In: Wiktionary". San Francisco, California: Wikimedia Foundation, Inc. 14 April 2015. Retrieved 2015-05-18. 
  4. Lionel Robbins (1932). 15 An Essay on the Nature and Significance of Economic Science. London. http://books.google.com/books?id=nySoIkOgWQ4C&printsec=find&pg=PA15#v=onepage&q&f=false 15. 

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