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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.
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. More generally, actuaries apply rigorous mathematics to model matters of uncertainty and life expectancy. Actuaries are professionals trained in this discipline.
The Myanmar Economic Corporation ( Burmese: မြန်မာ့စီးပွားရေး ကော်ပိုရေးရှင်း; abbreviated MEC) is one of the two major conglomerates and holding companies operated by the Burmese military, the other being the Myanma Economic Holdings Limited. The U.S. Treasury Dept. reports that ...
Health economics is a branch of economics concerned with issues related to efficiency, effectiveness, value and behavior in the production and consumption of health and healthcare. Health economics is important in determining how to improve health outcomes and lifestyle patterns through interactions between individuals, healthcare providers and ...
State Socialism (German: Staatssozialismus) was a set of social programs implemented in the German Empire that were initiated by Otto von Bismarck in 1883 as remedial measures to appease the working class and detract support for socialism and the Social Democratic Party of Germany following earlier attempts to achieve the same objective through Bismarck's Anti-Socialist Laws.
Social insurance is a public insurance that provides protection against economic risks. Participation in social insurance is compulsory. Social insurance is considered to be a type of social security. Social insurance differs from public support in that individuals' claims are partly dependent on their contributions, which can be considered as ...
China's was the only major world economy to experience GDP growth in 2020, when its GDP increased by 2.3%. [99] However, it posted one of its worst economic performances in decades because of COVID-19 in 2022. [100] In 2023, IMF predicted China to continue being one of the fastest growing major economies. [101]
The Lighthouse in Economics. "The Lighthouse in Economics" is a 1974 academic paper written by British economist Ronald H. Coase, the 1991 winner of the Nobel Prize in Economic Sciences . This paper challenges the traditional view in economics that lighthouses are public goods, and more specifically the prevailing consensus that the private ...