Economics in the context of Univariate polynomial

Aristotle (Attic Greek: Ἀριστοτέλης, romanized: Aristotélēs; 384–322 BC) was an ancient Greek philosopher and polymath. His writings cover a broad range of subjects spanning the natural sciences, philosophy, linguistics, economics, politics, psychology, and the arts. As the founder of the Peripatetic school of philosophy in the Lyceum in Athens, he began the wider Aristotelian tradition that followed, which set the groundwork for the development of modern science.

Little is known about Aristotle's life. He was born in the city of Stagira in northern Greece during the Classical period. His father, Nicomachus, died when Aristotle was a child, and he was brought up by a guardian. At around eighteen years old, he joined Plato's Academy in Athens and remained there until the age of thirty seven (c. 347 BC). Shortly after Plato died, Aristotle left Athens and, at the request of Philip II of Macedon, tutored his son Alexander the Great beginning in 343 BC. He established a library in the Lyceum, which helped him to produce many of his hundreds of books on papyrus scrolls.

Alfred North Whitehead OM FRS FBA (15 February 1861 – 30 December 1947) was an English mathematician and philosopher. He created the philosophical school known as process philosophy, which has been applied in a wide variety of disciplines, including ecology, theology, education, physics, biology, economics, and psychology.

In his early career Whitehead wrote primarily on mathematics, logic, and physics. He wrote the three-volume Principia Mathematica (1910–1913), with his former student Bertrand Russell. Principia Mathematica is considered one of the twentieth century's most important works in mathematical logic, and placed 23rd in a list of the top 100 English-language nonfiction books of the twentieth century by Modern Library.

A sustainable city, eco-city, or green city is a city designed with consideration for the social, economic, and environmental impact (commonly referred to as the triple bottom line), as well as a resilient habitat for existing populations. The UN Sustainable Development Goal 11 defines as one that is dedicated to achieving green, social, and economic sustainability, facilitating opportunities that prioritize inclusivity as well as maintaining a sustainable economic growth. Furthermore, the objective is to minimize the inputs of energy, water, and food, and to drastically reduce waste, as well as the outputs of heat, air pollution (including CO2, methane, and water pollution).

The UN Environment Programme calls out that most cities today are struggling with environmental degradation, traffic congestion, inadequate urban infrastructure, in addition to a lack of basic services, such as water supply, sanitation, and waste management. A sustainable city should promote economic growth and meet the basic needs of its inhabitants, while creating sustainable living conditions for all. Ideally, a sustainable city is one that creates an enduring way of life across the four domains of ecology, economics, politics, and culture. The European Investment Bank is assisting cities in the development of long-term strategies in fields including renewable transportation, energy efficiency, sustainable housing, education, and health care. The European Investment Bank has spent more than €150 billion in bettering cities over the last eight years.

Law is a set of rules that are created and are enforceable by social or governmental institutions to regulate behavior, with its precise definition a matter of longstanding debate. It has been variously described as a science and as the art of justice. State-enforced laws can be made by a legislature, resulting in statutes; by the executive through decrees and regulations; or by judges' decisions, which form precedent in common law jurisdictions. An autocrat may exercise those functions within their realm. The creation of laws themselves may be influenced by a constitution, written or tacit, and the rights encoded therein. The law shapes politics, economics, history and society in various ways and also serves as a mediator of relations between people.

Legal systems vary between jurisdictions, with their differences analysed in comparative law. In civil law jurisdictions, a legislature or other central body codifies and consolidates the law. In common law systems, judges may make binding case law through precedent, although on occasion this may be overturned by a higher court or the legislature. Religious law is in use in some religious communities and states, and has historically influenced secular law.

Social science (not often rendered in the plural as the social sciences) is one of the branches of science, devoted to the study of societies and the relationships among members within those societies. The term was formerly used to refer to the field of sociology, the original "science of society", established in the 18th century. It now encompasses a wide array of additional academic disciplines, including anthropology, archaeology, economics, geography, history, linguistics, management, communication studies, psychology, culturology, and political science.

The majority of positivist social scientists use methods resembling those used in the natural sciences as tools for understanding societies, and so define science in its stricter modern sense. Speculative social scientists, otherwise known as interpretivist scientists, by contrast, may use social critique or symbolic interpretation rather than constructing empirically falsifiable theories, and thus treat science in its broader sense. In modern academic practice, researchers are often eclectic, using multiple methodologies (combining both quantitative and qualitative research). To gain a deeper understanding of complex human behavior in digital environments, social science disciplines have increasingly integrated interdisciplinary approaches, big data, and computational tools. The term social research has also acquired a degree of autonomy as practitioners from various disciplines share similar goals and methods.

A think tank, or public policy institute, is an organization that performs research and advocacy concerning topics such as social policy, political strategy, economics, military, technology, and culture. Most think tanks are non-governmental organizations, but some are semi-autonomous agencies within a government, and some are associated with particular political parties, businesses, or the military. Think tanks are often funded by individual donations, with many also accepting government grants.

Think tanks publish articles and studies, and sometimes draft legislation on particular matters of policy or society. This information is then used by governments, businesses, media organizations, social movements, or other interest groups. Think tanks range from those associated with highly academic or scholarly activities to those that are overtly ideological and pushing for particular policies, with a wide range among them in terms of the quality of their research. Later generations of think tanks have tended to be more ideologically oriented.

Labour economics is the subfield of economics concerned with the study of labour as an input to economic production. Broadly, it surveys labor markets and the ecomic decisions of agents participating in such markets. Topics of study include the labour supply of workers and how it is affected by variables such as age, education, gender and childbearing, as well as the labour demand by firms searching for different forms of labor as an input in the production of goods and services. In addition, labour economics studies, amognst others, phenomena such as schooling, human capital, inequality, unemployment, trade unions, discrimination, technological change, and public policies related to labor markets, such as unemployment benefits, pensions and health care.

In economics, goods are anything that is good, usually in the sense that it provides welfare or utility to someone. Goods can be contrasted with bads, i.e. things that provide negative value for users, like chores or waste. A bad lowers a consumer's overall welfare.

Economics focuses on the study of economic goods, i.e. goods that are scarce; in other words, producing the good requires expending effort or resources. Economic goods contrast with free goods such as air, for which there is an unlimited supply.

In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, goods and services. The utilised amounts of the various inputs determine the quantity of output according to the relationship called the production function. There are four basic resources or factors of production: land, labour, capital and entrepreneur (or enterprise). The factors are also frequently labeled "producer goods or services" to distinguish them from the goods or services purchased by consumers, which are frequently labeled "consumer goods".

There are two types of factors: primary and secondary. The previously mentioned primary factors are land, labour and capital. Materials and energy are considered secondary factors in classical economics because they are obtained from land, labour, and capital. The primary factors facilitate production but neither become part of the product (as with raw materials) nor become significantly transformed by the production process (as with fuel used to power machinery). Land includes not only the site of production but also natural resources above or below the soil. Recent usage has distinguished human capital (the stock of knowledge in the labor force) from labour. Entrepreneurship is also sometimes considered a factor of production. Sometimes the overall state of technology is described as a factor of production. The number and definition of factors vary, depending on theoretical purpose, empirical emphasis, or school of economics.

In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. A typical example is the machinery used in a factory. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a given year."

Capital is a broad economic concept representing produced assets used as inputs for further production or generating income.

The measures used in economics are physical measures, nominal price value measures and fixed price value measures. These measures differ from one another by the variables they measure and by the variables excluded from measurements. The measurable variables in economics are quantity, quality and distribution. Excluding variables from measurement makes it possible to better focus the measurement on a given variable, yet, this means a more narrow approach. The table was compiled to compare the basic types of measurement. The first column presents the measure types, the second the variables being measured, and the third column gives the variables excluded from measurement.

In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of CPI inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index.

Changes in inflation are widely attributed to fluctuations in real demand for goods and services (also known as demand shocks, including changes in fiscal or monetary policy), changes in available supplies such as during energy crises (also known as supply shocks), or changes in inflation expectations, which may be self-fulfilling. Moderate inflation affects economies in both positive and negative ways. The negative effects would include an increase in the opportunity cost of holding money; uncertainty over future inflation, which may discourage investment and savings; and, if inflation were rapid enough, shortages of goods as consumers begin hoarding out of concern that prices will increase in the future. Positive effects include reducing unemployment due to nominal wage rigidity, allowing the central bank greater freedom in carrying out monetary policy, encouraging loans and investment instead of money hoarding, and avoiding the inefficiencies associated with deflation.

In economics, nominal value refers to value measured in terms of absolute money amounts, whereas real value is considered and measured against the actual goods or services for which it can be exchanged at a given time. Real value takes into account inflation and the value of an asset in relation to its purchasing power. In macroeconomics, the real gross domestic product compensates for inflation so economists can exclude inflation from growth figures, and see how much an economy actually grows. Nominal GDP would include inflation, and thus be higher.

The international dollar (int'l dollar or intl dollar, symbols Int'l$., Intl$., Int$), also known as Geary–Khamis dollar (symbols G–K$ or GK$), is a hypothetical unit of currency that has the same purchasing power parity that the U.S. dollar had in the United States at a given point in time. It is mainly used in economics and financial statistics for various purposes, most notably to determine and compare the purchasing power parity and gross domestic product of various countries and markets. The year 1990 or 2000 is often used as a benchmark year for comparisons that run through time. The unit is often abbreviated, e.g. 2000 US dollars or 2000 International$ (if the benchmark year is 2000).

It is based on the twin concepts of purchasing power parities (PPP) of currencies and the international average prices of commodities. It shows how much a local currency unit is worth within the country's borders. It is used to make comparisons both between countries and over time. For example, comparing per capita gross domestic product (GDP) of various countries in international dollars, rather than based simply on exchange rates, provides a more valid measure to compare standards of living. It was proposed by Roy C. Geary in 1958 and developed by Salem Hanna Khamis between 1970 and 1982.

Positivism is a philosophical school that holds that all genuine knowledge is either true by definition or positive – meaning a posteriori facts derived by reason and logic from sensory experience. Other ways of knowing, such as intuition, introspection, or religious faith, are rejected or considered meaningless.

Although the positivist approach has been a recurrent theme in the history of Western thought, modern positivism was first articulated in the early 19th century by Auguste Comte. His school of sociological positivism holds that society, like the physical world, operates according to scientific laws. After Comte, positivist schools arose in logic, psychology, economics, historiography, and other fields of thought. Generally, positivists attempted to introduce scientific methods to their respective fields. Since the turn of the 20th century, positivism, although still popular, has declined under criticism within the social sciences by antipositivists and critical theorists, among others, for its alleged scientism, reductionism, overgeneralizations, and methodological limitations. Positivism also exerted an unusual influence on Kardecism.

An institution is a humanly devised structure of rules and norms that shape and constrain social behavior. All definitions of institutions generally entail that there is a level of persistence and continuity. Laws, rules, social conventions and norms are all examples of institutions. Institutions vary in their level of formality and informality. Institutions embody a great deal of knowledge of how to do things in society and have been described as the social science equivalent of theories in the natural sciences.

Institutions are a principal object of study in social sciences such as political science, anthropology, economics, and sociology (the latter described by Émile Durkheim as the "science of institutions, their genesis and their functioning"). Primary or meta-institutions are institutions such as the family or money that are broad enough to encompass sets of related institutions. Institutions are also a central concern for law, the formal mechanism for political rule-making and enforcement. Historians study and document the founding, growth, decay and development of institutions as part of political, economic and cultural history.