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In macroeconomics, the triangle model employed by new Keynesian economics is a model of inflation derived from the Phillips Curve and given its name by Robert J. Gordon. The model views inflation as having three root causes: built-in inflation , demand-pull inflation , and cost-push inflation . [ 1 ]
In developmental economics, the Poverty-Growth-Inequality Triangle (also called the Growth-Inequality-Poverty Triangle or GIP Triangle) refers to the idea that a country's change in poverty can be fully determined by its change in income growth and income inequality. According to the model, a development strategy must then also be based on ...
A universal three-way trade-off produces adaptive strategies throughout the tree of life, with extreme strategies facilitating the survival of genes via: C (competitive), the survival of the individual using traits that maximize resource acquisition and resource control in consistently productive niches; S (stress-tolerant), individual survival via maintenance of metabolic performance in ...
He was the first to claim optimality under his own criterion or to support the claim by convincing arguments. [ citation needed ] He defines equilibrium more abstractly than Edgeworth as a state which would maintain itself indefinitely in the absence of external pressures [ 11 ] and shows that in an exchange economy it is the point at which a ...
Bioeconomics (fisheries), the study of the dynamics of living resources using economic models; Bioeconomics (biophysical), the study of economic systems applying the laws of thermodynamics; Biological economics, the study of the relationship between human biology and economics; Bioeconomics, the social theory of Nicholas Georgescu-Roegen
Here is every type of economic system out there explained with cows: Posted by Mike Hosking From protests like the one above, all the way to teach world economy. Yes, you read it right.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Evolutionary economics is a school of economic thought that is inspired by evolutionary biology.Although not defined by a strict set of principles and uniting various approaches, it treats economic development as a process rather than an equilibrium and emphasizes change (qualitative, organisational, and structural), innovation, complex interdependencies, self-evolving systems, and limited ...