Economic research

Definition of the European Center for Economic Research

What is the Center for European Economic Research? The Center for European Economic Research is a non-profit economic research institution based in Mannheim, Germany. The organization provides advice on economic issues and policies to its clients, with its work focusing primarily on European economies. Key points to remember The Center for European Economic Research, or […]

Economic system

What are the main differences between a mixed economic system and pure capitalism?

A mixed economic system is an economy that allows private ownership and allows businesses and consumers to freely use capital. However, in a mixed economy, governments can intervene through the regulation of the economy if deemed to be in the best interest of all. Mixed economic systems are not state economies, which means that the […]

Economic research

National Bureau of Economic Research (NBER) definition

What is the National Bureau of Economic Research? The National Bureau of Economic Research (NBER) is a private, nonprofit, nonpartisan research organization whose goal is to promote a better understanding of how the economy works. It disseminates economic research to public policy makers, business professionals and the academic community. Key points to remember The NBER […]

Economic system

Definition and Examples of Mixed Economic System

What is a mixed economic system? A mixed economic system is a system that combines aspects of capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows governments to intervene in economic activities in order to achieve social goals. According […]

Economic system

How did the Soviet economic system affect consumer goods?

The now-defunct Soviet Union was not a good place for its citizens, who suffered from chronic shortages of consumer goods. The goods available to them were generally inferior to those available in the West. During its almost seven decades of existence, from 1922 to 1991, the Union of Soviet Socialist Republics was one of the […]

Economic system

What are the common characteristics of a mixed economic system?

A mixed economy is defined by the coexistence of a public sector and a private sector. However, the specific mix between public and private can vary considerably from one mixed economy to another. By their respective natures, the private sector is subservient to the public sector. Private exchange can only take place where the government […]

Economic system

Definition of Mercantilism (Economic System)

What is commercialism? Mercantilism was an economic system of commerce that spanned the 16th to 18th centuries. Mercantilism is based on the principle that global wealth was static, and therefore many European nations attempted to accumulate as much of this wealth as possible by maximizing their exports and limiting their imports via tariffs. Key points […]