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An economic model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical , framework designed to illustrate complex processes.
The state is created by one class (owners, exploiters) for governance, increasing their own well-being, and suppressing another class (the oppressed class, the exploited). M. Olson is critical of this concept of the origin of the state, as he does not believe that classes represent "organized groups with common interests" that drive them to ...
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The rational choice model, also called rational choice theory refers to a set of guidelines that help understand economic and social behaviour. [1] The theory originated in the eighteenth century and can be traced back to the political economist and philosopher Adam Smith. [2]
A logical graph is a special type of graph-theoretic structure in any one of several systems of graphical syntax that Charles Sanders Peirce developed for logic.. In his papers on qualitative logic, entitative graphs, and existential graphs, Peirce developed several versions of a graphical formalism, or a graph-theoretic formal language, designed to be interpreted for logic.
The class of all problems computable in polynomial space, PSPACE, can be characterised by augmenting first-order logic with a more expressive partial fixed-point operator. Partial fixed-point logic , FO[PFP], is the extension of first-order logic with a partial fixed-point operator, which expresses the fixed-point of a formula if there is one ...
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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.