Economic systems

The barter system facilitated exchange of goods and services before the advent of the monetary system. Let us take a closer look at the history of this age-old system.

Traditional economics views humans as robotic machines who make calculated decisions based on logic. In contrast, behavioural economics views humans as irrational and emotional beings who ar…

Supply and Demand Balance Scale Economics Principles Law. Illustration about customer, evaluating, correlate, background, difference, economy, evaluate, choose, analyze - 38029279

The History of Money illustrations for Level Chinese.

Infographic: The Sharing Economy While the sharing economy has been widely used in the past two years, it’s an economic term that has existed since 2010. Many scholars and thinkers have tried to define it in different ways, from a socio-economic ecosystem to collaborative consumption, we found the most recurring ones to be: the recirculation of goods (e.g. eBay or Craigslist), the exchange of services (think TaskRabbit, the sharing of productive assets), and finally the utilization of…

Factors of production in economics refer to inputs that one needs to make or produce a good or service. There are 4 factors of production.

An economy is a system of production and consumption activities that determine how resources are allocated among all of its participants. Learn how it works.

Balaji Viswanathan outlines the top ten things you need to know about economics.

John Lanchester on how, in three centuries, the heresies of two bankers became the basis of our modern economy.