What are economic terms?

Economic terms, from “absolute advantage” to “zero-sum game”, explained to you in plain English A concept that helps to explain international trade.

What does economics mean?

Economics is the study of wealth, production and consumption. This includes a variety of models, principles and techniques that can be used to describe business and society. The following are common terms related to economics. If you enjoyed this page, please consider bookmarking Simplicable. What is Economics?

What is Business Economics?

A branch of applied economics which uses economic theory and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms with labour, capital and product markets. Also called the corporate sector or sometimes simply business.