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  2. The Lighthouse in Economics - Wikipedia

    en.wikipedia.org/wiki/The_Lighthouse_in_Economics

    "The Lighthouse in Economics" is a 1974 academic paper written by British economist Ronald H. Coase, the 1991 winner of the Nobel Prize in Economic Sciences. This paper challenges the traditional view in economics that lighthouses are public goods , and more specifically the prevailing consensus that the private construction and operation of ...

  3. Supply (economics) - Wikipedia

    en.wikipedia.org/wiki/Supply_(economics)

    Supply (economics) In economics, supply is the amount of a resource that firms, producers, labourers, providers of financial assets, or other economic agents are willing and able to provide to the marketplace or to an individual. Supply can be in produced goods, labour time, raw materials, or any other scarce or valuable object.

  4. Individualism and Economic Order - Wikipedia

    en.wikipedia.org/wiki/Individualism_and_Economic...

    280. ISBN. 0-226-32093-6. OCLC. 35953883. Individualism and Economic Order is a book written by Friedrich Hayek. It is a collection of essays originally published in the 1930s and 1940s, discussing topics ranging from moral philosophy to the methods of the social sciences and economic theory to contrast free markets with planned economies. [1 ...

  5. Elasticity (economics) - Wikipedia

    en.wikipedia.org/wiki/Elasticity_(economics)

    In economics, elasticity measures the responsiveness of one economic variable to a change in another. If the price elasticity of the demand of something is -2, a 10% increase in price causes the quantity demanded to fall by 20%.

  6. Free shipping - Wikipedia

    en.wikipedia.org/wiki/Free_shipping

    Next in line were exclusive online deals (23%), no sales tax (10%), fast shipping (9%) and in store pickup (5%). [3] Many shoppers also perceive shipping costs as a barrier to place the order and leave the shopping cart before purchasing. 31.6% of respondents mentioned the latter as a main barrier during the online shopping experience based on ...

  7. Free-rider problem - Wikipedia

    en.wikipedia.org/wiki/Free-rider_problem

    Free-rider problem. In economics, the free-rider problem is a type of market failure that occurs when those who benefit from resources, public goods and common pool resources do not pay for them [1] or under-pay. Examples of such goods are public roads or public libraries or services or other goods of a communal nature.

  8. Joseph Stiglitz - Wikipedia

    en.wikipedia.org/wiki/Joseph_Stiglitz

    Joseph Eugene Stiglitz ( / ˈstɪɡlɪts /; born February 9, 1943) is an American New Keynesian economist, [2] a public policy analyst, and a full professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) [3] and the John Bates Clark Medal (1979). [4] He is a former senior vice president and ...

  9. Economics - Wikipedia

    en.wikipedia.org/wiki/Economics

    Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.

  10. Price - Wikipedia

    en.wikipedia.org/wiki/Price

    A price display for a tagged clothes item at Kohl's. A price is the (usually not negative) quantity of payment or compensation expected, required, or given by one party to another in return for goods or services. In some situations, especially when the product is a service rather than a physical good, the price for the service may be called ...

  11. Gandhian economics - Wikipedia

    en.wikipedia.org/wiki/Gandhian_economics

    Gandhian economics. Gandhian economics is a school of economic thought based on the spiritual and socio-economic principles expounded by Indian leader Mahatma Gandhi. It is largely characterised by rejection of the concept of the human being as a rational actor always seeking to maximize material self-interest that underlies classical economic ...