of economy or economics: relating to economics, or the economy or business activities of a country.

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Presentation transcript:

of economy or economics: relating to economics, or the economy or business activities of a country.

1. an organization, establishment, foundation, society, or the like, devoted to the promotion of a particular cause or program, esp. one of a public, educational, or charitable

educati on politics economics Eomis

Government

Religion

Education

Politics

Economics

Education Religion Politics Economics

Family

Education

Religion

Politics

Economics

The Term refers to two things: Specific agencies or foundations, both government and private, devoted to collecting or studying economic data, or commissioned with the job of supplying a good or service that is important to the economy of a country.

The Internal Revenue Service (the IRS—the government tax-collection agency) The U.S. Federal Reserve (the government producer of money) The National Bureau of Economic Research (a private research agency)

Competitive markets The banking system Kids' allowances Customary tipping a system of property rights are examples of economic institutions. A system of Property Rights a system of property rights are examples of economic institutions.

The fact of scarcity which exists everywhere, guarantees that people will compete for resources. Markets are one way to organize and channel this competition. Politics is another. People use both markets and politics to get resources allocated to the ends they favor.

People can accomplish many things in politics that they could not accomplish in the private sector.

Council of Economic Advisers (C.E.A.) The CEA was established by the Employment Act of 1946 to provide the President with objective economic analysis and advice on the development and implementation of a wide range of domestic and international economic policy issues.