basic economy:

... as a term related to this glossary's definition of location, basic economy refers to a local economy. In that way it ties in with the site selection process. For example, a site selector may request facts and usable information about the economy of an area to go along with a so called community profile. Basic economy is not an economics term as defined here.

An economic developers' definition of a basic economy states that it is ... activity within a community with a predominant market that lies outside the local economy (source of quote). That would seem to imply that the such a community enjoys a component of a typical definition of economic development that has creating wealth as an operative phrase.

Markets outside of local economies offer potential for places seeking economic development to essentially send them products and services in exchange for the wealth building component of enterprise and economic development. One definition of economic development indicates that its about increasing the flow ... of capital through the community and reducing its leakage. The source of quote also states that other definitions of economic development ... are only pretenders to the crown.

Other than what is described above, examples of what might be viewed as basic are the government controlled command economy and the free market economy (capitalism).

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definition of local economy:

Basic economy defined at the top of this page relates local economy to community economic development. Local economy is defined in Economic Development.net.

Search the Web for information that ties the word basic to economics, economy, and economic development by copying and pasting suggested italicized text lines provided. Keep quotation marks as they or shown or try eliminating them if you like.

definition of economy basic

definition of "basic economy"

"factors of the production of wealth" basic functions economics

basic "economic development"

basic economy "economic development"

local economy community "economic development"

wealth "flow of capital" "economic development"

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