Search results
Results From The WOW.Com Content Network
Economics ( / ˌɛkəˈnɒmɪks, ˌiːkə -/) [ 1][ 2] is a social science that studies the production, distribution, and consumption of goods and services. [ 3][ 4] Economics focuses on the behaviour and interactions of economic agents and how economies work.
An economic theory that defines wealth by the amount of precious metals owned. [56] business cycle. Also called the economic cycle or trade cycle. The downward and upward movement of gross domestic product (GDP) around its long-term growth trend. [57] The length of a business cycle is the period of time containing a single boom and contraction ...
Cambridge capital controversy: The Cambridge capital controversy is a dispute in economics that started in the 1950s. The debate concerned the nature and role of capital goods and a critique of the neoclassical vision of aggregate production and distribution. The question of whether the natural growth rate is exogenous, or endogenous to demand ...
The Test of Understanding in College Economics or TUCE is a standardized test of economics used across the United States for over 50 years. [1] The test is nationally norm-referenced in the United States for use at the undergraduate level, primarily targeting introductory or principles-level coursework in economics. It is one of four grade ...
Experimental economics is the application of experimental methods [ 1] to study economic questions. Data collected in experiments are used to estimate effect size, test the validity of economic theories, and illuminate market mechanisms. Economic experiments usually use cash to motivate subjects, in order to mimic real-world incentives.
The Basic Economics Test or BET is a standardized test of economics nationally norm-referenced in the United States for use in the upper-grade levels of elementary schools. It is one of four grade-level specific standardized economics tests (i.e., Test of Economic Knowledge (TEK), Test of Economic Literacy (TEL) and Test of Understanding in ...
Test of Economic Literacy. The Test of Economic Literacy or TEL is a standardized test of economics nationally norm-referenced in the United States for use in upper-grade levels of high schools. The first edition was released in 1977 and the fourth edition was released in 2013. [1]
t. e. Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. [1] More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference." [2]