Economy
Related: advertising - altruism - capital - capitalism - cheap - commercial - communism - consumer - consumerism - culture industry - distribution - expensive - industrial revolution - industry - marketing - Karl Marx - price - producer - rare - scarce - shopping - social sciences - theft - underground economy - value
Mini-essays: patrons, funding and sponsors
Definition
Economics is the social science studying production and consumption through measurable variables. It involves analysing the production, distribution, trade and consumption of goods and services. Economics is said to be positive when it attempts to explain the consequences of different choices given a set of assumptions and normative when it prescribes that a certain action should be taken. --http://en.wikipedia.org/wiki/Economics [Feb 2005]
The Oxford American Dictionary defines economics as the science that deals with the production, distribution, and consumption of goods and services. The Virtual Nation produces, distributes, and consumes information as goods and services. This information is produced in digital forms and distributed in electronic mails, newsgroups, online conferences, or websites (Barbrook, 1998). The citizens of the Virtual Nation consume this distributed information. But what do the producers of information get in return?
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