Economic systems

The barter system facilitated exchange of goods and services before the advent of the monetary system. Let us take a closer look at the history of this age-old system.

The History of Money illustrations for Level Chinese.

Supply and Demand Balance Scale Economics Principles Law. Illustration about customer, evaluating, correlate, background, difference, economy, evaluate, choose, analyze - 38029279

A mixed economy is an economic system in which economic activity is directed by a mixture of private firms and the government.

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John Lanchester on how, in three centuries, the heresies of two bankers became the basis of our modern economy.

Infographic: The Sharing Economy While the sharing economy has been widely used in the past two years, it’s an economic term that has existed since 2010. Many scholars and thinkers have tried to define it in different ways, from a socio-economic ecosystem to collaborative consumption, we found the most recurring ones to be: the recirculation of goods (e.g. eBay or Craigslist), the exchange of services (think TaskRabbit, the sharing of productive assets), and finally the utilization of…

A ¥en to Trade lessons are written to help middle school students understand the basic rationale for making trades, the gains possible from trade, and how trading is done. Through simulations and other active-learning strategies, the lessons teach fundamental economic concepts such as scarcity, economic wants, resources, goods and services, opportunity cost, and money, as well as international trade concepts such as exports, imports, tariffs, quotas, exchange rates, and trade routes.

In recent discussions, countries are working towards finalizing a global tax deal that aims to address tax challenges linked to the digital economy. This initiative is essential as nations seek to establish a fairer tax system amid rapid digitalization and globalization. The proposed framework, championed by the Organisation for Economic Co-operation and Development (OECD), involves a two-pillar approach that includes fundamental changes in the taxation of multinational enterprises. Pillar…

Example 4: 3 Sector Circular Flow Diagram This Economy infographic represents the three-sector circular flow of income model. The economy consists of three sectors: households, business, and government. You can observe the flows from the households and business to the government in the form of taxes, labor, goods, and services.

Traditional economics views humans as robotic machines who make calculated decisions based on logic. In contrast, behavioural economics views humans as irrational and emotional beings who ar…

Applications of financial economics, chart,

Personal Financial Literacy Economics Vocabulary Anchor Chart

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Stock and currency market crash down. Global economic decline concept. Money and gold on the background of quotes. Flat vector illustration.

Governments and the media obsess about it while statisticians endlessly fiddle – but what is the real point of GDP and can it ever be accurately measured?

Balaji Viswanathan outlines the top ten things you need to know about economics.