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Bass guitarist and youtuber Charles Berthoud also makes extensive use of detuners, generally on a LeFay D-Tuner (which as the name hints was designed with a detuner on each string). Adrian Legg is a popular guitarist making use of rapid tuning changes. He was prominent in the late 1980s. The idea may have originated from the double bass extenders.
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 ...
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
In economics and law, fungibility is the property of a good or a commodity whose individual units are essentially interchangeable. [1] [2] In legal terms, this affects how legal rights (such as ownership and the right to receive goods under a contract) apply to such items. Fungible things can be substituted for each other; for example, a $100 ...
Monetary policy instruments are used for managing short-term rates (the federal funds rate and discount rates in the U.S.), and changing reserve requirements for commercial banks. Monetary policy can be either expansive for the economy (short-term rates low relative to the inflation rate ) or restrictive for the economy (short-term rates high ...
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
[page needed] Other formulations define productive forces more narrowly as the union of instruments of production [clarification needed : 'instruments of production' requires a definition] and the laborers who wield them (e.g., Institute of Economics, 1957), [page needed] thereby excluding invested capital.
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".