Economy

An economy (Greek οίκος-household and νέμoμαι - manage) is an area of the production, distribution or trade, and consumption of goods and services by different agents in a given geographical location. The economic agents can be individuals, businesses, organizations, or governments. Transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency.

Economic activity is spurred by production which uses natural resources, labor, and capital. It has changed over time due to technology (automation, accelerator of process, reduction of cost functions), innovation (new products, services, processes, new markets, expands markets, diversification of markets, niche markets, increases revenue functions) such as that which produces intellectual property and changes in industrial relations (child labor being replaced with universal access to education).

A given economy is the result of a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure and legal systems, 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.

Economy (album)

Economy is the second studio album by Christian singer and songwriter John Mark McMillan, and it released on November 1, 2011 by Integrity Music. The producers on the album were McMillan, Jeremy Griffith and Joel Khouri.

Critical reception

Economy garnered critical acclaim from nine music critics. At CCM Magazine, Matt Conner rated the album four stars, saying that McMillan "has found a Springsteen-like groove that resonates deeply with its honest questions and vulnerable organic approach", which "is beautiful from front to back." Philip Majorins of PopMatters rated the album six out of ten, writing that the songs are structured in a way that makes them "mostly compelling and certainly emotional" and the release "contains hopeful strains that do not go out of their way to gloss over the human condition." At Christianity Today, Robert Ham rated the album four stars, indicating that this "is a rare work" because it can be played anywhere, which the release features a "strong, turbulent collection that rambles with the same mid '70s rock-influenced drive of artists like Wilco and Bright Eyes."

Economy (basketball)

Economy is a basketball statistical formula that was created in order to determine the ball possession efficiency of ball handlers, mainly primary ball handlers and point guards. It is considered a basic stat of the Greek League.

Calculation

The stat's formula is:

Assists + Steals - Turnovers.

See also

External links