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LSDefine

Simple English definitions for legal terms

economics

Read a random definition: competent witness

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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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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