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A school of economic thought that emphasizes the spontaneous organizing power of the price mechanism and holds that the complexity of subjective human choices makes mathematical modeling of the evolving market impractical.

An economic field combining psychological theory with economic analysis to explain why individuals might make irrational decisions that deviate from the predictions of classical economic models.

An economic theory that argues economic growth can be most effectively fostered by lowering taxes, decreasing regulation, and allowing free market forces to operate.

A classless, stateless economic system in which all the means of production are owned communally and wealth is distributed according to need.

An economic analysis that seeks to understand and improve the allocation of resources to enhance social welfare, considering issues of equity and efficiency.

An economic system based on flexible, temporary, or freelance jobs, often involving connecting with clients or customers through an online platform.

An economic system that incorporates elements of capitalism and socialism, featuring both private and state ownership of resources, and uses both markets and planning for allocation.

A sub-field of economics concerned with environmental issues, it deals with the economic effects of environmental policies, and the effects of economic systems on the environment.

A medieval European economic system based on hereditary social class, land ownership by nobility, and a system of obligations between nobility and serfs.

An economic framework based on the theories of Karl Marx, focusing on the labor theory of value, class struggle, exploitation, and the eventual transition from capitalism to socialism.

An economic model advocating for government intervention to manage demand in the economy, using fiscal and monetary measures to mitigate the effects of economic recessions and depressions.

An economic system aimed at eliminating waste and the continual use of resources through reusing, repairing, refurbishing and recycling existing materials and products.

A contemporary economic theory that focuses on supply and demand as the driving forces behind the production, pricing, and consumption of goods and services.

An economic doctrine prevalent in Europe from the 16th to 18th centuries, focused on accumulating wealth through trade surpluses and government intervention to secure a favorable balance of trade.

A libertarian philosophy that advocates for a society with no state and a free-market economy where all transactions are voluntary and all property is privately owned.

An economic system based on Islamic principles, which includes moral and ethical norms derived from the Quran and Sunnah, prohibiting interest (riba) and promoting risk-sharing.

A branch of economics that focuses on improving fiscal, economic and social conditions in developing countries, it involves both macro and microeconomic principles to aid growth.

An economic system characterized by private ownership of the means of production, profit motive, market competition, and limited government intervention.

An economic system in which the means of production are owned and controlled by the state, with an emphasis on egalitarian distribution of wealth, and planning over markets.