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system of economic equilibrium

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  • Economic equilibrium — Price of market balance: P price Q quantity of good S supply D demand P0 price of market balance A surplus of demand when P<P0 B surplus of supply when P>P0 In economics, economic equilibrium is a state of the world where economic forces… …   Wikipedia

  • Equilibrium — is the condition of a system in which competing influences are balanced and it may refer to:cienceBiology* Equilibrioception, the sense of balance present in humans and animals * Homeostasis, the ability of an open system, especially living… …   Wikipedia

  • Economic calculation problem — The economic calculation problem is a criticism of socialist economics. It was first proposed by Ludwig von Mises in 1920 and later expounded by Friedrich Hayek.cite book title= Economic calculation in the Socialist Commonwealth accessdate=2008… …   Wikipedia

  • economic development — Process whereby simple, low income national economies are transformed into modern industrial economies. Theories of economic development the evolution of poor countries dependent on agriculture or resource extraction into prosperous countries… …   Universalium

  • ECONOMIC HISTORY — This article is arranged according to the following outline: first temple period exile and restoration second temple period talmudic era muslim middle ages medieval christendom economic doctrines early modern period sephardim and ashkenazim… …   Encyclopedia of Judaism

  • Economic history of India — Economic history of India, in the sense of the meaning of the term economic in its current sense, is at least 5,000 years oldFact|date=November 2007. Indus Valley Civilization The Indus Valley civilization, the first known permanent and… …   Wikipedia

  • Economic efficiency — is used to refer to a number of related concepts. A system can be called economically efficient if: * No one can be made better off without making someone else worse off. * More output cannot be obtained without increasing the amount of inputs. * …   Wikipedia

  • Economic interdependence — is a consequence of specialization, or the division of labor, and is almost universal. It was described as early as 1828, when A. A. Cournot wrote: : but in reality the economic system is a whole of which the parts are connected and react on each …   Wikipedia

  • economic stabilizer — Any of the institutions and practices in an economy that serve to reduce fluctuations in the business cycle through offsetting effects on the amounts of income available for spending (disposable income). The progressive income tax, unemployment… …   Universalium

  • Economic model — A diagram of the IS/LM model In economics, a model is a theoretical construct that represents economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified… …   Wikipedia

  • ECONOMIC AFFAIRS — THE PRE MANDATE (LATE OTTOMAN) PERIOD Geography and Borders In September 1923 a new political entity was formally recognized by the international community. Palestine, or Ereẓ Israel as Jews have continued to refer to it for 2,000 years,… …   Encyclopedia of Judaism

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