Economics and Service (economics)

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Difference between Economics and Service (economics)

Economics vs. Service (economics)

Economics is the social science that studies the production, distribution, and consumption of goods and services. In economics, a service is a transaction in which no physical goods are transferred from the seller to the buyer.

Adam Smith

Adam Smith (16 June 1723 NS (5 June 1723 OS) – 17 July 1790) was a Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment era.

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Bank

A bank is a financial institution that accepts deposits from the public and creates credit.

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Business cycle

The business cycle, also known as the economic cycle or trade cycle, is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend.

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Economics

Economics is the social science that studies the production, distribution, and consumption of goods and services.

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Goods

In economics, goods are materials that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product.

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Insurance

Insurance is a means of protection from financial loss.

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International Monetary Fund

The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.

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Organization

An organization or organisation is an entity comprising multiple people, such as an institution or an association, that has a collective goal and is linked to an external environment.

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Outline of economics

The following outline is provided as an overview of and topical guide to economics: Economics – analyzes the production, distribution, and consumption of goods and services.

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Product (business)

In marketing, a product is anything that can be offered to a market that might satisfy a want or need.

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State (polity)

A state is a compulsory political organization with a centralized government that maintains a monopoly of the legitimate use of force within a certain geographical territory.

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The Wealth of Nations

An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith.

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