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Amazon Go, a cashierless store enabled by computer vision, deep learning, and sensor fusion. " Fourth Industrial Revolution ", " 4IR ", or " Industry 4.0 " [ 1 ] is a neologism describing rapid technological advancement in the 21st century. [ 2 ] The term was popularised in 2016 by Klaus Schwab, the World Economic Forum founder and executive ...
Price ceiling. A price ceiling is a government- or group-imposed price control, or limit, on how high a price is charged for a product, commodity, or service. Governments use price ceilings to protect consumers from conditions that could make commodities prohibitively expensive. Such conditions can occur during periods of high inflation, in the ...
t. e. Cost-push inflation is a purported type of inflation caused by increases in the cost of important goods or services where no suitable alternative is available. As businesses face higher prices for underlying inputs, they are forced to increase prices of their outputs. It is contrasted with the theory of demand-pull inflation.
Private property is a legal designation for the ownership of property by non-governmental legal entities. [1] Private property is distinguishable from public property, which is owned by a state entity, and from collective or cooperative property, which is owned by one or more non-governmental entities. [2]
Macroeconomics. Production and national income: Macroeconomics takes a big-picture view of the entire economy, including examining the roles of, and relationships between, firms, households and governments, and the different types of markets, such as the financial market and the labour market. Macroeconomics is a branch of economics that deals ...
Other economic concepts related to inflation include: deflation – a fall in the general price level; [17] disinflation – a decrease in the rate of inflation; [18] hyperinflation – an out-of-control inflationary spiral; [19] stagflation – a combination of inflation, slow economic growth and high unemployment; [20] reflation – an ...
Disequilibrium macroeconomics is a tradition of research centered on the role of disequilibrium in economics. This approach is also known as non-Walrasian theory, equilibrium with rationing, the non-market clearing approach, and non-tâtonnement theory. [1] Early work in the area was done by Don Patinkin, Robert W. Clower, and Axel Leijonhufvud.
t. e. In economics, market power refers to the ability of a firm to influence the price at which it sells a product or service by manipulating either the supply or demand of the product or service to increase economic profit. [1] In other words, market power occurs if a firm does not face a perfectly elastic demand curve and can set its price ...