Universe (economics) - Definition and Overview

In economics and marketing a universe is a population to be studied or measured.

In economics a population to be measured is described as a "universe", and the measures which are generated are intended to reflect the behavior of that population. Different statistical surveys may measure related, but different, universes and have to be adjusted to reflect this difference. For example the American Bureau of Labor Statistics has a household survey and an establishment survey to measure employment. The differences in the populations and behavior that these two surveys measure are said to be the differences in their "universe".

In marketing a universe has a related meaning, it is the activity in a given population. For example ASCAP measures airplay in different radio "universes" to determine royalities for different songs, because air play, for example, in the "classical" universe is compensated differently from popular music.

See universe (mathematics).