Portal:Business and economics

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The Business and economics Portal

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In the social sciences, economics is the study of human choice behavior and the methodology used to make associated investment and 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. 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. Economics undergraduate courses always cover at least the two main branches:
  • Microeconomics studies the behavior of individual households and firms in making decisions on the allocation of limited resources. Microeconomics applies to markets where goods or services are bought and sold. It examines how decisions and behaviors affect the supply and demand for goods and services, which determines prices, and how prices, in turn, determine the quantity supplied and quantity demanded of goods and services.
  • Macroeconomics deals with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets. This includes national, regional, and global economies.

However, there are also others sub-field of economics (see JEL classification codes).

In economics, economic systems is the study and analysis of organizing production, distribution, consumption and investment and the study of optimal resource allocation and institutional design. Traditionally the study of economic systems was based on a dichotomy between market economies and planned economies, but contemporary studies compare and contrast a number of different variables, such as ownership structure (Public, Private or Collective), economic coordination (planning, markets or mixed), management structure (Hierarchy versus adhocracy), the incentive system, and the level of centralization in decision-making. A business, also known as an enterprise or a firm, is an organization involved in the trade of goods, services, or both to consumers. Businesses are prevalent in capitalist economies, where most of them are privately owned and provide goods and services to customers in exchange of other goods, services, or money. Businesses may also be not-for-profit or state-owned. Management in business and organizations is the function that coordinates the efforts of people to accomplish goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization or initiative to accomplish a goal. Management is also an academic discipline, and is traditionaly taught at business schools. An economy can be analyzed in terms of its economic sectors, the classic breakdown being into primary, secondary and tertiary. Economic policy refers to the actions that governments take in the economic field. It covers the systems for setting interest rates and government budget as well as the labor market regulations, national ownership, trade policy, monetary policy, fiscal policy, regulatory policy, anti-trust policy and industrial policy. In economics, sustainable development refers to development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

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At Old Street, street markings and a sign (inset) with the white-on-red C alert drivers to the charge. The sign displays the original operating hours for the scheme.

The London congestion charge is a fee charged on most motor vehicles operating within the Congestion Charge Zone (CCZ) in central London between 07:00 and 18:00 (Monday-Friday only). The charge, which was introduced on 17 February 2003, remains one of the largest congestion zones in the world despite the cancellation of the Western Extension which operated between February 2007 and January 2011. The charge aims to reduce congestion, and to raise investment funds for London's transport system. The standard charge is £10 for each day, for each non-exempt vehicle that travels within the zone with a penalty of between £60 and £187 levied for non-payment. Enforcement is primarily based on automatic number plate recognition (ANPR). Transport for London (TfL) is responsible for the charge which has been operated by IBM since 1 November 2009.

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Pirates attacked a merchant ship
Photo credit: Caciss

Seaborne piracy has been affecting trade since 13th century BC. Seaborne piracy against transport vessels remains a significant issue, with estimated worldwide losses of US $13 to $16 billion per year

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Data taken from Yahoo! Finance as of 20:21, 4 January 2014 (UTC)

Index (USA) Last Change
NYSE (USA)
10296.771
Green Arrow Up.svg 10296.77
NASDAQ (USA)
4131.906
Red Arrow Down.svg 11.16
S&P 500 (USA)
1831.37
Red Arrow Down.svg 0.61
AMEX (USA)
2397.622
Green Arrow Up.svg 2397.62
Index (World) Last Change
iBovespa (Brazil)
50981.09
Green Arrow Up.svg 639.84
CAC 40 (France)
4247.65
Green Arrow Up.svg 20.37
DAX (Germany)
9435.15
Green Arrow Up.svg 35.11
Hang Seng (HK)
22817.279
Red Arrow Down.svg 522.77
Nikkei 225 (Japan)
16291.31
Green Arrow Up.svg 112.37
IPC (Mexico)
42064.969
Red Arrow Down.svg 123.48
FTSE (UK)
6730.67
Green Arrow Up.svg 12.76

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