Economic ideology & Free market - Unionpedia, the concept map

Capital market

A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold.

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Capitalism

Capitalism is an economic system based on the private ownership of the means of production and their operation for profit.

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Corporation

A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes.

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Economic equilibrium

In economics, economic equilibrium is a situation in which economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.

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Economic growth

Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year.

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Economic planning

Economic planning is a resource allocation mechanism based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution.

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Economic system

An economic system, or economic order, is a system of production, resource allocation and distribution of goods and services within a society.

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Economics

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

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Economist

An economist is a professional and practitioner in the social science discipline of economics.

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Fascism

Fascism is a far-right, authoritarian, ultranationalist political ideology and movement, characterized by a dictatorial leader, centralized autocracy, militarism, forcible suppression of opposition, belief in a natural social hierarchy, subordination of individual interests for the perceived good of the nation or race, and strong regimentation of society and the economy.

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Financial market

A financial market is a market in which people trade financial securities and derivatives at low transaction costs.

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Free market

In economics, a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers.

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Government

A government is the system or group of people governing an organized community, generally a state.

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Industrial Revolution

The Industrial Revolution, sometimes divided into the First Industrial Revolution and Second Industrial Revolution, was a period of global transition of the human economy towards more widespread, efficient and stable manufacturing processes that succeeded the Agricultural Revolution.

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Invisible hand

The invisible hand is a metaphor inspired by the Scottish moral philosopher Adam Smith that describes the incentives which free markets sometimes create for self-interested people to act unintentionally in the public interest.

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Laissez-faire

Laissez-faire (or, from laissez faire) is a type of economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies or regulations).

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Market economy

A market economy is an economic system in which the decisions regarding investment, production and distribution to the consumers are guided by the price signals created by the forces of supply and demand.

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Market socialism is a type of economic system involving social ownership of the means of production within the framework of a market economy.

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Means of production

In political philosophy, the means of production refers to the generally necessary assets and resources that enable a society to engage in production.

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Mixed economy

A mixed economy is an economic system that accepts both private businesses and nationalized government services, like public utilities, safety, military, welfare, and education.

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Planned economy

A planned economy is a type of economic system where the distribution of goods and services or the investment, production and the allocation of capital goods takes place according to economic plans that are either economy-wide or limited to a category of goods and services.

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Political economy

Political economy is a branch of political science and economics studying economic systems (e.g. markets and national economies) and their governance by political systems (e.g. law, institutions, and government).

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Profit (economics)

In economics, profit is the difference between revenue that an economic entity has received from its outputs and total costs of its inputs, also known as surplus value.

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Some professionals and universities consider social policy a subset of public policy, while other practitioners characterize social policy and public policy to be two separate, competing approaches for the same public interest (similar to MD and DO in healthcare), with social policy deemed more holistic than public policy.

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Socialism is an economic and political philosophy encompassing diverse economic and social systems characterised by social ownership of the means of production, as opposed to private ownership.

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Speculation

In finance, speculation is the purchase of an asset (a commodity, goods, or real estate) with the hope that it will become more valuable shortly.

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State capitalism

State capitalism is an economic system in which the state undertakes business and commercial (i.e., for-profit) economic activity and where the means of production are nationalized as state-owned enterprises (including the processes of capital accumulation, centralized management and wage labor).

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State ownership

State ownership, also called public ownership or government ownership, is the ownership of an industry, asset, property, or enterprise by the national government of a country or state, or a public body representing a community, as opposed to an individual or private party.

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Subsidy

A subsidy or government incentive is a type of government expenditure for individuals and households, as well as businesses with the aim of stabilizing the economy.

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Supply and demand

In microeconomics, supply and demand is an economic model of price determination in a market.

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Tariff

A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods.

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