economic theory

Noun
  1. (economics) a theory of commercial activities (such as the production and consumption of goods) (synset 106003820)
    referred to in: economic science, economics, political economy - the branch of social science that deals with the production and distribution and consumption of goods and services and their management
    is a type of: theory - a well-substantiated explanation of some aspect of the natural world; an organized system of accepted knowledge that applies in a variety of circumstances to explain a specific set of phenomena
    subtypes:
    • consumerism - the theory that an increasing consumption of goods is economically beneficial
    • keynesianism - the economic theories of John Maynard Keynes who advocated government monetary and fiscal programs intended to stimulate business activity and increase employment
    • liberalism - an economic theory advocating free competition and a self-regulating market
    • malthusian theory, malthusianism - Malthus' theory that population increase would outpace increases in the means of subsistence
    • monetarism - an economic theory holding that variations in unemployment and the rate of inflation are usually caused by changes in the supply of money
    • rent seeking, rent-seeking - (economics) the theory that a person or firm seeks to make money by manipulating the economic environment rather than by making a profit through production or trade
    is a part of: economic science, economics, political economy - the branch of social science that deals with the production and distribution and consumption of goods and services and their management

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