Nudging out the coronavirus with behavioral economics

Human behavior is key in any pandemic. So how can a little nudge in the right direction change our behavior for the better? Researcher Nurit Nobel explains the science behind encouraging good behaviors—and how it can help ...

To reopen cities during pandemic, focus on neighborhoods

With unemployment rising to its highest rate since the Great Depression and labor participation plummeting, many local government leaders in the United States have taken steps to reopen their cities—worrying not only about ...

Work and wellbeing bounce back during coronavirus crisis

Government measures to arrest the economic impact of COVID-19 have helped stop further job losses and declines in working hours, new analysis from The Australian National University (ANU) shows.

Balancing the economy while saving the planet

If you make your bio-product 100% sustainable it may be way too expensive to produce. If you make it less environmentally friendly, you may, at some point, end up having a feasible product that can compete on market terms. ...

Herding wild buffalo and cattle from space

More than 1000 feral buffalo and unmanaged cattle roaming Northern Australia will be tagged and tracked as part of the world's largest satellite herd-tracking program, announced today by Australia's national science agency, ...

Total revamp needed to secure the future of Aussie tourism

A complete reset of Australia's tourism industry is necessary to ensure its future success, according to global tourism expert, Professor Marianna Sigala at the University of South Australia.

How small-scale fishers are struggling amid COVID-19 crisis

As COVID-19 affects global food systems, tremendous impacts are being felt by coastal communities and small-scale fishers, many of whom are self-employed and rely on the catch to feed their own households or local communities.

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Economy

An economy consists of the economic system of a country or other area; the labor, capital and land resources; and the manufacturing, trade, distribution, and consumption of goods and services of that area. An economy may also be described as a spatially limited and social network where goods and services are exchanged according to demand and supply between participants by barter or a medium of exchange with a credit or debit value accepted within the network.

A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.

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