Experts measure the economic impact of the COVID-19 pandemic

Between March 21 and 28, as the country enacted quarantine measures, the United States experienced a 3,000% jump in joblessness claims. By the end of March, a stock market drop had wiped out all gains from the previous three ...

Turning wastewater into a resource

A team of European researchers and engineers initiated the ULTIMATE project to turn wastewater into a resource. This initiative is co-financed by the European Commission and started in June 2020. The aim is to create economic ...

Ethnolinguistic diversity slows down urban growth

Where various ethnic groups live together, cities grow at a slower rate. That is the conclusion reached by a researcher from the University of Basel and his colleagues based on worldwide data that shows how the diversity ...

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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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