Creating ontology chart of economic objects: The application of menger’s ideas

Processing data is one of the main concerns of almost every field of study which deals with information. But today with the growing data and information a new delicate problem arises: “processing” knowledge. One way to start solving it is by categorizing knowledge; then trying to manage these knowledge categories according to the interest of the field of study; and finally implementing them into a problem-solving platform such as a software program, a web page or merely in a new algorithm. Ontologies come in handy in one of the key links of this chain: knowledge management. In this paper we show the how to use ontologies for data and knowledge management and how they can be applied in formalizing economic concepts. We did this classification according to Menger’s ideas.