Economic value is the worth of a good or service determined by people's preferences and the trade-offs they choose given their scarce resources.

Demand for an inferior good drops when incomes rise and people prefer to buy more expensive, substitute items. The term refers to affordability, not quality.

Gross domestic product (GDP) measures the market value of all goods and services a country produces in a specific time frame. It’s used to gauge a nation’s economic growth and its people's ...

An economic shock, also known as a macroeconomic shock, is any unexpected event that has a large-scale, unexpected impact on the economy. Many, but not all, economists also say that a shock has to ...

China’s tech hub saw its GDP growth outpace major economic regions in the first three quarters of the year.

Gozo’s identity can be strengthened alongside economic growth and the common good, Prime Minister Robert Abela said on Friday. “For the first time, Gozitans have a voice and control over decisions ...