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The modal verbs shall and will have been used in the past, and continue to be used, in a variety of meanings. [8] Although when used purely as future markers they are largely interchangeable (as will be discussed in the following sections), each of the two verbs also has certain specific uses in which it cannot be replaced by the other without ...
The law of the value of commodities (German: Wertgesetz der Waren), [1] known simply as the law of value, is a central concept in Karl Marx's critique of political economy first expounded in his polemic The Poverty of Philosophy (1847) against Pierre-Joseph Proudhon with reference to David Ricardo's economics. [2] [note 1] Most generally, it ...
The will/shall future consists of the modal verb will or shall together with the bare infinitive of the main verb, as in "He will win" or "I shall win". ( Prescriptive grammarians prefer will in the second and third persons and shall in the first person, reversing the forms to express obligation or determination, but in practice shall and will ...
The English modal auxiliary verbs are a subset of the English auxiliary verbs used mostly to express modality, properties such as possibility and obligation. [a] They can most easily be distinguished from other verbs by their defectiveness (they do not have participles or plain forms [b]) and by their lack of the ending ‑(e)s for the third-person singular.
As for shall vs should, my (northwestern US) ears prefer shall but the difference is very slight. Shall focuses on your magnimony, and you may already be half-standing when you say it. Should focuses on your social obligation, and you may have no intention of opening the window unless the other person says "yes".
The historical antecedents of law and economics can be traced back to the classical economists, who are credited with the foundations of modern economic thought.As early as the 18th century, Adam Smith discussed the economic effects of mercantilist legislation; later, David Ricardo opposed the British Corn Laws on the grounds that they hindered agricultural productivity; and Frédéric Bastiat ...
In economics, a utility function is often used to represent a preference structure such that () if and only if. The idea is to associate each class of indifference with a real number such that if one class is preferred to the other, then the number of the first one is greater than that of the second one.
In economics, the principle of absolute advantage is the ability of a party (an individual, or firm, or country) to produce a good or service more efficiently than its competitors. [1] [2] The Scottish economist Adam Smith first described the principle of absolute advantage in the context of international trade in 1776, using labor as the