Mathematics Economics and Business


Mathematics (from Greek μάθημα máthēma, "knowledge, study, learning") includes the study of such topics as quantity (number theory), structure (algebra), space (geometry), and change (mathematical analysis). It has no generally accepted definition.

Mathematicians seek and use patterns to formulate new conjectures; they resolve the truth or falsity of conjectures by mathematical proof. When mathematical structures are good models of real phenomena, mathematical reasoning can be used to provide insight or predictions about nature. Through the use of abstraction and logic, mathematics developed from counting, calculation, measurement, and the systematic study of the shapes and motions of physical objects. Practical mathematics has been a human activity from as far back as written records exist. The research required to solve mathematical problems can take years or even centuries of sustained inquiry.

Rigorous arguments first appeared in Greek mathematics, most notably in Euclid's Elements.[10] Since the pioneering work of Giuseppe Peano (1858–1932), David Hilbert (1862–1943), and others on axiomatic systems in the late 19th century, it has become customary to view mathematical research as establishing truth by rigorous deduction from appropriately chosen axioms and definitions. Mathematics developed at a relatively slow pace until the Renaissance, when mathematical innovations interacting with new scientific discoveries led to a rapid increase in the rate of mathematical discovery that has continued to the present day.


What Is Economics?

Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices on allocating resources to satisfy their wants and needs, trying to determine how these groups should organize and coordinate efforts to achieve maximum output.

Economics can generally be broken down into macroeconomics, which concentrates on the behavior of the aggregate economy, and microeconomics, which focuses on individual consumers and businesses

One of the earliest recorded economic thinkers was the 8th-century B.C. Greek farmer/poet Hesiod, who wrote that labor, materials, and time needed to be allocated efficiently to overcome scarcity. But the founding of modern Western economics occurred much later, generally credited to the publication of Scottish philosopher Adam Smith's 1776 book, An Inquiry Into the Nature and Causes of the Wealth of Nations.

The principle (and problem) of economics is that human beings have unlimited wants and occupy a world of limited means. For this reason, the concepts of efficiency and productivity are held paramount by economists. Increased productivity and a more efficient use of resources, they argue, could lead to a higher standard of living.


What Is a Business? A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or non-profit organizations that operate to fulfill a charitable mission or further a social cause.

The term business also refers to the organized efforts and activities of individuals to produce and sell goods and services for profit. Businesses range in scale from a sole proprietorship to an international corporation. Several lines of theory are engaged with understanding business administration including organizational behavior, organization theory, and strategic management.

People have conducted business since ancient times; historically, businesses have involved mercantile operations, trade guilds, or shared agricultural production. 1:10 Business.

Generally, a business begins with a business concept (the idea) and a name. Depending on the nature of the business, extensive market research may be necessary to determine whether turning the idea into a business is feasible and if the business can deliver value to consumers. The business name can be one of the most valuable assets of a firm; careful consideration should thus be given when choosing it. Businesses operating under fictitious names must be registered with the state.