Sunday 1 May 2011

Economic Definition and Economic Action

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Economic Definitions
one social science that studies human activities associated with the production, distribution, exchange, and consumption of goods and services called the Economy. The term "economy" itself comes from the Greek word οἶκος (oikos), which means "family, household" and νόμος (nomos), or "regulations, rules, laws," and broadly defined as "household rules" or "management household. "While the economy is an expert or an economist is a person using economic concepts and data in the work.

 
Action Economics
Every human endeavor is based on the choice of the best and most profitable called economic action. for example: Mother cook with firewood because the price of kerosene is very expensive. Economic action consists of two aspects, namely:
Rational economic action, every human endeavor is based on the most profitable option and in fact the case.
Irrational economic action, every human endeavor is based on the most profitable option but they are not.

(sources:http://id.wikipedia.org/wiki/Ekonomi)

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