economy:
... the structure or condition of the production, development, management, and distribution of material wealth in a location. An economic developers' definition of a basic economy states that it is ... activity within a community with a predominant market that lies outside the local economy (source of quote).
Wikipedia states that economics is ... the social science concerned with the production, distribution, and consumption of goods and services. (source of quote). Another source for a definition of economics is Econguru.com which, among other things, comments on the subject in the context of how the economics is distinguished from art and science disciplines.
The word economic is associated with the terms described in the two paragraphs above. In this glossary it pertains to interacting functions of management and production of material wealth. Various definitions of economic development refer to wealth (example).
See the Economy section of the Enterprise and Economic Development Library.
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definition of economic enterprise:
... any organized effort intended to provide a service or product within an economy. That doesn't necessarily mean that an enterprise contributes to the production of wealth in terms of economic development. For example, government enterprises and nonprofits do not necessarily contribute substantially to the creation of wealth in a community.
A number of definitions of economic development refer to the objective of expanding a tax base. Taxes are a burden on wealth. Tax revenues are sometimes used to redistribute wealth which is likely to discourage productivity and drive off economic development prospects.
Economic enterprises that are for profit operations are typically expected to create wealth. In terms of jobs creation, another functionality component of enterprise and economic development, nonprofits as well as for-profits may be see as desirable prospects.
Suggestions for searching the Web for more thoughts and comments what helps to build a local economy and what takes away from it are provided below. Copy the italicized text lines, keeping quotation marks intact, and paste them to the search engine.
| growth economy "economic development" |
| growth economy "enterprise development" |
| growth economy "enterprise and economic development" |
| what is "wealth building" |
| what does "creating wealth" mean |
| factors "economic growth" development |
| positive factors "economic growth" development |
| negative factors "economic growth" development |
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| economic growth development jobs creation "wealth redistribution" |
| economic production development management "wealth building" |
| economic production development management "wealth redistribution" |
| what is "creating wealth" |
| economics glossary |
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