Pescara, Italy

Economics and Trade

Economia e commercio

Language: ItalianStudies in Italian
Subject area: economy and administration
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Economics () is the social science that studies the production, distribution, and consumption of goods and services.
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.
Economics is not simply a topic on which to express opinions or vent emotions. It is a systematic study of what happens when you do specific things in specific ways. In economic analysis, the methods used by a Marxist economist like Oskar Lange did not differ in any fundamental way from the methods used by a conservative economist like Milton Friedman.
Thomas Sowell, Ch. 1 What is Economics? in Basic Economics
The field of economics is not exempt from the consequences of chaos and complexity. Marketplaces are indeterminate; value is subjective; and outcomes are subject to interpretation. Economic forecasting is just as nebulous, being based on the probability of statistical information that may or may not be accurate.
L.K. Samuels, In Defense of Chaos: The Chaology of Politics, Economics and Human Action, Cobden Press (2013) p. 16.
Economics is, in essence, the study of poverty.
Ronald Max Hartwell, The Long Debate on Poverty (1972), p. 3
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