A policy is a deliberate system of principles to guide decisions and achieve rational outcomes. A policy is a statement of intent, and is implemented as a procedure or protocol. Policies are generally adopted by a governance body within an organization. Policies can assist in both subjective and objective decision making. Policies to assist in subjective decision making usually assist senior management with decisions that must be based on the relative merits of a number of factors, and as a result are often hard to test objectively, e.g. work-life balance policy. In contrast policies to assist in objective decision making are usually operational in nature and can be objectively tested, e.g. password policy.
Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. A system or network that allows trade is called a market.
Economists have never allowed their analysis to be influenced by psychologists of their time, but have always framed for themselves such assumptions about psychical processes as they have thought it desirable to make.
Joseph Schumpeter, History of Economic Analysis, 1945. p. 27
Men did not make the earth. ... It is the value of the improvements only, and not the earth itself, that is individual property. ... Every proprietor owes to the community a ground rent for the land which he holds.
EN 
CS
DE
ES
FR
HU
IT
PL
PT
РУ
SK
TR
УК
AR
中文
