Search results
Results From The WOW.Com Content Network
Voluntary exchange is the act of buyers and sellers freely and willingly engaging in market transactions. [citation needed] Voluntary exchange is a fundamental assumption in classical economics and neoclassical economics which forms the basis of contemporary mainstream economics. [1] That is, when neoclassical economists theorize about the ...
Business portal. Money portal. v. t. e. In economics, gains from trade are the net benefits to economic agents from being allowed an increase in voluntary trading with each other. In technical terms, they are the increase of consumer surplus [1] plus producer surplus [2] from lower tariffs [3] or otherwise liberalizing trade. [4]
A narrower view of the theory of taxation reduces the system to two issues: who can pay and who can benefit (Benefit principle). Influential theories have been the ability theory presented by Arthur Cecil Pigou [2] and the benefit theory developed by Erik Lindahl. [3][4] There is a later version of the benefit theory known as the "voluntary ...
e. In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money.
Social expenditure as % of GDP (). A welfare state is a form of government in which the state (or a well-established network of social institutions) protects and promotes the economic and social well-being of its citizens, based upon the principles of equal opportunity, equitable distribution of wealth, and public responsibility for citizens unable to avail themselves of the minimal provisions ...
Economics. International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different ...
The State of Group Voluntary Benefits is the second in a series of five research briefs that highlight the major findings from Prudential's Seventh Annual Study of Employee Benefits: Today & Beyond.
Participatory economics, often abbreviated Parecon, is an economic system based on participatory decision making as the primary economic mechanism for allocation in society. In the system, the say in decision-making is proportional to the impact on a person or group of people. Participatory economics is a form of a socialist decentralized ...