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LSDefine

Simple English definitions for legal terms

economics

Read a random definition: sub salvo et securo conductu

A quick definition of economics:

Economics is a subject that helps us understand how things are made, how they are shared, and how people use them. It is like a puzzle that helps us figure out how to make the best use of our resources, like money, time, and materials. By studying economics, we can learn how to make good choices about what we buy, how we work, and how we live our lives.

A more thorough explanation:

Definition: Economics is a social science that studies how goods and services are produced, distributed, and consumed.

Examples:

  • When a company decides to increase the price of their product, they are using economic principles to determine how much consumers are willing to pay and how much profit they can make.
  • When a government decides to invest in infrastructure, such as building roads or bridges, they are using economic principles to determine how to allocate resources and create jobs.

These examples illustrate how economics is used to make decisions about how resources are used and how goods and services are distributed. By understanding economic principles, individuals and organizations can make informed decisions about how to best allocate their resources and achieve their goals.

Economic Research Service | Economics and Statistics Administration

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Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
Irvine is being snobby and wont start any review until end of Nov.
Yeah, it’s tough. I’m distracting myself by playing good video games after work :)
im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website
it is not working
Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students
i spend more time on here then anything else trying to rationalize that the waves from last year will match waves for this year (they won't) and that the stats of people with the same stats are indicative of my own (they aren't)
There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years
9:28
congrats on the 172 bruce
go dawgs fr
9:29
roll tide
do we foresee a fordham election day wave today (i'm delusional)
WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
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