ECONOMY

A labor union is an organization formed by workers in a particular trade, industry, or company for the purpose of improving pay, benefits, and working conditions. Officially known as a “labor organization,” also called a […]

The knowledge economy is a system of consumption and production that is based on intellectual capital. In particular, it refers to the ability to capitalize on scientific discoveries and applied research. The knowledge-economy represents a large […]

The free market describes an economic system where people voluntarily trade with one another in their own self-interest. A purely free market has little to no government intervention or regulation, and individuals and companies are […]

Affect the Economy How does a nation’s education system relate to its economic performance? Why do most workers with college degrees earn so much more than those without degrees? Understanding how education and training interact […]

Gross domestic product (GDP) is an estimate of the total value of finished goods and services produced within a country’s borders during a specified period, usually a year. GDP is popularly used to estimate the size […]