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Economic Growth
Heterodox One can define economic growth as the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. Statisticians conventionally measure such growth as the percent rate of increase in real gross domestic product, or real GDP.[1] Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting.[2] Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth-rates of countries are commonly compared[ [...More Info...] [...Related Items...] |
Consumption (economics)
Consumption, defined as spending for acquisition of utility, is a major concept in economics and is also studied in many other social sciences. It is seen in contrast to investing, which is spending for acquisition of future income.[1] Different schools of economists define consumption differently. According to mainstream economists, only the final purchase of newly produced goods and services by individuals for immediate use constitutes consumption, while other types of expenditure — in particular, fixed investment, intermediate consumption, and government spending — are placed in separate categories (see Consumer choice). Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g. the selection, adoption, use, disposal and recycling of goods and services).[ [...More Info...] [...Related Items...] |
Public Service
Public service[1] is a service intended to serve all members of a community.[2] It is usually provided by government to people living within its jurisdiction, either directly (through the public sector) or by financing provision of services. The term is associated with a social consensus (usually expressed through democratic elections) that certain services should be available to all, regardless of income, physical ability or mental acuity. Examples of such services include the fire brigade, police, air force, and paramedics. (See also: Public service broadcasting) Even where public services are neither publicly provided nor publicly financed, for social and political reasons they are usually subject to regulation going beyond that applying to most economic sectors [...More Info...] [...Related Items...] |
Peru
Coordinates: 10°S 76°W / 10°S 76°W The term Peruvian literature not only refers to literature produced in the independent Republic of Peru, but also to literature produced in the Viceroyalty of Peru during the country's colonial period, and to oral artistic forms created by diverse ethnic groups that existed in the area during the prehispanic period, such as the Quechua, the Aymara and thePainting of this time reflected a synthesis of European and indigenous influences, as is evident in the portrait of prisoner Atahualpa, by D. de Mora or in the canvases of the Italians Mateo Pérez de Alesio and Angelino Medoro, the Spaniards Francisco Bejarano and J. de Illescas and the Creole J [...More Info...] [...Related Items...] |
Retail Trade
Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. Retailers satisfy demand identified through a supply chain. The term "retailer" is typically applied where a service provider fills the small orders of many individuals, who are end-users, rather than large orders of a small number of wholesale, corporate or government clientele. Shopping generally refers to the act of buying products. Sometimes this is done to obtain final goods, including necessities such as food and clothing; sometimes it takes place as a recreational activity. Recreational shopping often involves window shopping and browsing: it does not always result in a purchase.
Retail markets and shops have a very ancient history, dating back to antiquity. Some of the earliest retailers were itinerant peddlers
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Industrial Production
Industrial production is a measure of output of the industrial sector of the economy. The industrial sector includes manufacturing, mining, and utilities.[1] Although these sectors contribute only a small portion of gross domestic product (GDP), they are highly sensitive to interest rates and consumer demand.[2] This makes industrial production an important tool for forecasting future GDP and economic performance [...More Info...] [...Related Items...] |
