Diseases, Conditions, Syndromes

EU to get 50 million Pfizer doses early as US prolongs J&J pause

The European Union said Wednesday that it is expecting 50 million Pfizer coronavirus vaccine doses earlier than expected, as the United States said it would continue a pause in vaccinations using the Johnson & Johnson shot ...

Diseases, Conditions, Syndromes

COVID origins report postponed, likely due next week: WHO

An international expert team that visited China to investigate the origins of COVID-19 has postponed publishing their report, which will now likely appear next week, the WHO said Tuesday.

Diseases, Conditions, Syndromes

World awaits China COVID origins report

The much-anticipated report from the international mission to Wuhan to investigate COVID-19's origins is set to be published this week, following intense US and Chinese pressure over its contents.

Diseases, Conditions, Syndromes

Poll: Americans largely back Biden's virus response

Joe Biden is enjoying an early presidential honeymoon, with 60% of Americans approving of his job performance thus far and even more backing his handling of the coronavirus pandemic, according to a new poll from The Associated ...

Medical economics

Waiver war at WTO over Covid jab IP rights

The World Trade Organization faces calls led by India and South Africa to waive intellectual property rights for COVID-19 vaccines—a notion fiercely rejected by pharmaceutical giants and their host countries.

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Economy

An economy (or "the economy") is the realized economic system of a country or other area. It includes the production, exchange, distribution, and consumption of goods and services of that area. The study of different types and examples of economies is the subject of economic systems. 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, among other factors. These factors give context, content, and set the conditions and parameters in which an economy functions.

Today the range of fields of study exploring, registering and describing the economy or a part of it, include social sciences such as economics, as well as branches of history (economic history) or geography (economic geography). Practical fields directly related to the human activities involving production, distribution, exchange, and consumption of goods and services as a whole, range from engineering to management and business administration to applied science to finance. All kind of professions, occupations, economic agents or economic activities, contribute to the economy. Consumption, saving and investment are core variable components in the economy and determine market equilibrium. There are three main sectors of economic activity: primary, secondary and tertiary.

The word "economy" can be traced back to the Greek word "one who manages a household", derived from οἴκος, "house", and νέμω, "distribute (especially, manage)". From οἰκονόμος "of a household or family" but also senses such as "thrift", "direction", "administration", "arrangement", and "public revenue of a state". The first recorded sense of the word "economy", found in a work possibly composed in 1440, is "the management of economic affairs", in this case, of a monastery. Economy is later recorded in other senses shared by οἰκονομία in Greek, including "thrift" and "administration". The most frequently used current sense, "the economic system of a country or an area", seems not to have developed until the 19th or 20th century.

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