What's value creation in an economy?
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The creation of wealth comes from adding value to something that already exists.  If you mine a metal, you add to its value by making it more accessible.  If you paint a picture, you add to the value of the paint and the canvas by combining them in a particular way.  If your organize data into a data bank, it's just like gold:  you have made it more accessible.
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Hi,\nFresh ideas keep the world of economics from stagnating. No one likes to get stuck in a rut and when a new idea or method is proposed, the old ones must adapt to keep up with improvments or, get left behind.
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make what , money or operations
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Well This is a term used is business. For example if there are three companies/manufacturers producing and selling automobiles each one would like to compete with one another and sell as many cars as possible in a year and also improve upon it. \nThe idea is to keep their factories to produce to their full capacity say 80%. Once they reach full capacity and if trhe demand continues either within that country or for export then they go for expansion of capacities.\nFor improving their market share each company compares their performance at each segment(area) for each period and how it is growing.\nThey also analyse the performance of competitors. \nThese are called market growth.\nGrowth in sale of a product in any given market segment in a particular period of time over the previous period of time \nis called market growth. It may be PLUS or MINUS too.
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supply and demand.\nCapitalism.\nI guess in your choices you would call it market.
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Economics - called the dismal science - studies scarcity of resources on a macro level.  Specific occurrences on a micro level, how an efficient plant operates for example.  Resources have to be managed effectively or they are wasted.  This also includes money.  \n\nSupply and demand is at the core of economics I believe.  Price versus quantity help individual companies decide how much to produce and at what price.  This also includes borrowing which is a staple of capitalism and society, expensive money is expressed in high interest rates.\n\nAs for your other question about the importance of the economy now as opposed to years ago, I don't think so.  It's always been important - the Roman Empire had to deal with inflation.  We just have different circumstances and are much more entwined with other economies.
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There's an old expression that you are worth exactly how much you make.  The American economic system is based on free enterprise.  You need to learn to market yourself effectively.
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In investing?\n\nAll human beings are of value to the entire world, for various reasons.\n\nSince this question is in investing, you may have value as a producer, a consumer, or an investor.\n\n\n\nNamaste.
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I don't think so. The only thing that leads to economic prosperity is if people continue to produce more and more.
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Why does this question keep coming up?\n\nCurrencies have different values because economies have different sizes. The U.S. economy is millions of times the size of that say of Namibia. So the U.S. dollar, backed by prosperity of an industrialized super power has much more value then the currency of a small, impoverished nation with few resources, no industry and little if any fiscal policy.\n\nThe actual value of each currency against others is set my market forces. Supply and demand. Who wants to buy more of what. But the actual buying power of a currency has to do with its stability, the financial strength of the nation that issues it and its worldwide demand.
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you gotta get some numbers on what happened in the past and will happen in the future. \n\ne.g. Demand forecasts, effect of advertizing, your costs as a function of output, link between employee compensation and perfomance.
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to expand economy and create jobs, money, and bring in goods not available locally
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It helps create more jobs, both ways.\n\nIt also helps increase market and customer base.
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A value proposition is how a company creates value for its customers.   Value can be created by the performance of its products/service, its the relative price, or through the channels it uses to sell and service its customers.  It is the reason customer buy the product/service or shop at a retailer. For example, Walmart offers shoppers a one stop shop for the lowest everyday prices on everyday items.   \n\nCustomer expectations are set based on their overall customer experience.  Marketing and advertising can play a strong role in how a customer expectations are set.   For example, based on Walmart's advertising, a consumer should naturally expect to see lower prices at Walmart than they do at other stores. \n\nOk, so what happens when a consumer walks into a Walmart and they find prices that are much higher than at other stores?  A gap is created in Walmart's value proposition and the customer experience.  This experience may create a change in customer expectations.  Maybe Walmart is not the place for everyday low prices in which case the value proposition is invalid.  \n\nIf this gap exists and a value proposition is invalid, customers no longer have a reason to shop at Walmart based on its original value proprosition.   Customers may still shop there because of its convenience and one-stop shopping but they would no longer shop at Walmart for its low prices.   Some set of customers would stop shopping at Walmart altogether.\n\nIn order to bring the value proposition of the store and customer expectations back in alignment, Walmart's strategy must ensure that its customers will always find the lowest prices at its stores. One technique they may use is a low price guarantee to give its shoppers more confidence.   \n\nClosing the difference between customer's expectations and a company's value proposition requires an analysis of how a company attracts customers and the typical customer experience.   If you find a gap between the two, the company should execute a strategy to change the customer experience so that it meets the promise of its value proposition.
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science (i.e. technology) causes economic growth
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1/  Opens up new markets to global trade.\n2/  "Free" circulation of money in a global economy...opens up capital markets...\n3/  Redistribution of wealth (either positively or negatively) as richer countries invest in developing countries....\n4/  Redistribution of people as the workforce is mobilized, seeking better economic opportunities
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It creates jobs & money. Its that simple.