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G-77: The Group of 77 (G-77) was established in 1964 by seventy-seven developing countries signatories of the "Joint Declaration of the Seventy-Seven Countries" under the auspices of the United Nations Conference on Trade and Development (UNCTAD) in Geneva. As the largest Third World coalition in the United Nations, the Group of 77 provides the means for the developing world to articulate and promote its collective economic interests and enhance its joint negotiating capacity on all major international economic issues in the United Nations system. They also strive to promote economic and technical cooperation among developing countries. Although the membership of the G-77 has increased to 135 countries, the original name was retained because of its historic significance.
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                           ECONOMIC ANALYSIS: The process of investigating economic phenomena in a systematic manner. In one sense, this is the heart and soul of the economic discipline. While economists spend an ample time identifying economic concepts, the end result of this discovery process is usually aimed at combining these concepts in such a way as to evaluate or analyze alternative consequences. For example, economists seek to understand the notions of demand and supply. But this is not the end result of their analytical quest. They are more interested in analyzing how a change in buyers' income, as a demand determinant, affects the demand for a good like gasoline and subsequently its price. Or how technological improvements, as a supply determinant, affects the supply of a good like computers and subsequently the quantity sold.One important aspect of economic analysis is that it is typically performed "at the margin," meaning that economists are usually more concerned with small, incremental changes than with overall totals. For example, economists are more interested in how many additional computers are sold because of the technological advance than in the total sales of computers. The reason for this "marginal" obsession is that consumers, producers, and other economic decision-makers usually make choices "at the margin." Consumers decide whether or not to buy another hot fudge sundae today (having eaten dozens this year). They do not decide in January how many to purchase for the entire year. They decide each hot fudge sundae purchase one at a time. And so it goes for many economic decisions.
Recommended Citation:ECONOMIC ANALYSIS, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: June 16, 2026].
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway trying to buy either a birthday greeting card for your uncle or a T-shirt commemorating the 2000 Presidential election. Be on the lookout for the happiest person in the room.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"Be kind and merciful. Let no one ever come to you without coming away better and happier." -- Mother Teresa of Calcutta, humanitarian
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LRTC
Long Run Total Cost
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