Draft:Original research/Economics

Economics is the study of the value system and rewards of a particular society.

Business
A business is a legally recognized organizational entity designed to provide goods or services.

Def.
 * 1) a "person's occupation, work, or trade",
 * 2) an activity that someone is engaged in,
 * 3) work that has to be done or matters that have to be attended to, or
 * 4) the practice of making one's living by engaging in commerce

is called a business.

Money
Def. a current medium of exchange in the form of coins and banknotes is called money.

Trade
Def. buying "and selling of goods and services on a market" or an "instance of bartering items in exchange for one another" is called trade.

Theoretical economics
Def. "a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses" is called economics.

Alternately,

Def. a science that studies the production, consumption, and transfer of wealth is called economics.

Def. the "study of resource allocation, distribution and consumption; of capital and investment; and of management of the factors of production" is called economics.

Globalization
Globalization involves goods and services, and the economic resources of capital, technology, and data. The steam locomotive, steamship, jet engine, and container ships are some of the advances in the means of transport while the rise of the telegraph and its modern offspring, the Internet and mobile phones show development in telecommunications infrastructure. All of these improvements have been major factors in globalization and have generated further interdependence of economic and cultural activities.

Hypotheses

 * 1) The economics of entrepreneurship favors an open market.

Quotes
"By virtue of exchange, one man's prosperity is beneficial to all others." -Frédéric Bastiat