Economy is the state of a country or region in terms of the production and consumption of goods and services and the supply of money. It is a large set of inter-related economic production and consumption activities which aid in determining how scarce resources are allocated.The economy encompasses everything related to the production and consumption of goods and services in an area. The economy and the factors affecting the economy have spawned one of the largest fields of study in human history - economics. The study of economics can be broken into two major areas of focus, microeconomics and macroeconomics.
Open access to the scientific literature means the removal of barriers (including price barriers) from accessing scholarly work. There are two parallel roads towards open access: Open Access articles and self-archiving. Open Access articles are immediately, freely available on their Web site, a model mostly funded by charges paid by the author (usually through a research grant). The alternative for a researcher is self-archiving (i.e., to publish in a traditional journal, where only subscribers have immediate access, but to make the article available on their personal and/or institutional Web sites (including so-called repositories or archives)), which is a practice allowed by many scholarly journals.
Open Access raises practical and policy questions for scholars, publishers, funders, and policymakers alike, including what the return on investment is when paying an article processing fee to publish in an Open Access articles, or whether investments into institutional repositories should be made and whether self-archiving should be made mandatory, as contemplated by some funders.
Last date updated on June, 2014