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Open-mindedness is receptiveness to new ideas. Open-mindedness relates to the way in which people approach the views and knowledge of others. [1] Jason Baehr defines an open-minded person as one who "characteristically moves beyond or temporarily sets aside his own doxastic commitments in order to give a fair and impartial hearing to the intellectual opposition". [2]
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 ...
These are at times competing, at times complementary—either debating the overall level of government involvement, or the effects of specific government involvement. Broadly speaking, this dialog takes place in the context of economic liberalism or neoliberalism , though these terms are also used more narrowly to refer to particular views ...
Economic openness [5] as a concept emerged in the 19th century, with two primary schools of thought. Critics argue that open economies may weaken national economies due to heightened competition, while proponents believe that openness encourages trade , fosters job creation, and boosts economic opportunities.
Advocates of the free market contend that government intervention hampers economic growth by disrupting the efficient allocation of resources according to supply and demand while critics of the free market contend that government intervention is sometimes necessary to protect a country's economy from better-developed and more influential ...
Open Government Pioneers UK is an example of a civil society led initiative using open source approaches to support citizens and civil society organisations use open government as a way to secure progress towards the Sustainable Development Goals. It uses an Open Wiki to plan the development of an open government civil society movement across ...
An economic ideology is a set of views forming the basis of an ideology on how the economy should run. It differentiates itself from economic theory in being normative rather than just explanatory in its approach, whereas the aim of economic theories is to create accurate explanatory models to describe how an economy currently functions.
This process is known as open market operations. For example, a central bank may command its regulated banks to sell government bonds or bills to the central bank, which pays with cheques or electronic transactions which are cashed by these banks, moving money from the central bank to the bank reserves (not deposits) of the regulated banks.