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.

Elasticity is an economic term that describes the responsiveness of one variable to changes in another. It commonly refers to how demand changes in response to price.

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 ...

In a new study, researchers developed a framework to measure the welfare contributions of new and free goods and services and quantify their benefits. By applying the framework to several examples ...

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 ...