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Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether ...
Examples of discretionary costs are advertising, insurance premia, machine maintenance, and research & development expenditures. Discretionary fixed costs can be expensive. [4] In economics, the most commonly spoken about fixed costs are those that have to do with capital.
Economic cost is the combination of losses of any goods that have a value attached to them by any one individual. [1] [2] Economic cost is used mainly by economists as means to compare the prudence of one course of action with that of another. The comparison includes the gains and losses precluded by taking a course of action as well as those ...
The following list sorts companies with the highest expenditures for research and development (R&D) for different years, mostly taken from the magazine Strategy+Business. 2022 top 20 [ edit ]
According to the Organisation for Economic Co-operation and Development, ″Gross domestic spending on R&D is defined as the total expenditure (current and capital) on R&D carried out by all resident companies, research institutes, university and government laboratories, etc., in a country.
Furthermore, the information created via research and development frequently spreads to other businesses and sectors, promoting additional innovation and economic expansion. For example, biotechnology advances could have uses in agriculture, environmental cleanup, or renewable energy, not just in the pharmaceutical industry.
Despite criticism of the realism in the RBC models, they have been very influential in economic methodology by providing the first examples of general equilibrium models based on microeconomic foundations and a specification of underlying shocks that aim to explain the main features of macroeconomic fluctuations, not only qualitatively, but ...
With this in mind, economic development is typically associated with improvements in a variety of areas or indicators (such as literacy rates, life expectancy, and poverty rates), that may be causes of economic development rather than consequences of specific economic development programs. For example, health and education improvements have ...