Search results
Results from the WOW.Com Content Network
In microeconomics, economies of density are cost savings resulting from spatial proximity of suppliers or providers. Typically higher population densities allow synergies in service provision leading to lower unit costs. [1] If large economies of density exist there is an incentive for firms to concentrate and agglomerate. [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 ...
GDP density refers to the distribution or intensity of Gross Domestic Product (GDP) within a particular area or population. GDP density could be interpreted as a measure of economic activity or output relative to the size of a region or population, often expressed as GDP per capita or GDP per unit of area.
Population density (in agriculture: standing stock or plant density) is a measurement of population per unit land area. It is mostly applied to humans , but sometimes to other living organisms too. It is a key geographical term.
In economics, economic rent is any payment to the owner of a factor of production in excess of the costs needed to bring that factor into production. [1] In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location and for assets formed by creating official privilege over natural opportunities (e.g., patents).
Urban density is a concept used in urban planning, urban studies, and related fields to describe the intensity of people, jobs, housing units, total floor area of buildings, or some other measure of human occupation, activity, and development across a defined unit of area.
In general terms, economic models have two functions: first as a simplification of and abstraction from observed data, and second as a means of selection of data based on a paradigm of econometric study. Simplification is particularly important for economics given the enormous complexity of economic processes. [3]
In 1803, J.B. Say distinguished the subject from its public-policy uses, defining it as the science of the production, distribution, and consumption of wealth. [2] On the satirical side, Thomas Carlyle (1849) coined 'the dismal science' as an epithet for classical economics, a term often linked to the pessimistic analysis of Malthus (1798). [3]