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In economics, the field of public finance deals with three broad areas: macroeconomic stabilization, the distribution of income and wealth, and the allocation of resources. . Much of the study of the allocation of resources is devoted to finding the conditions under which particular mechanisms of resource allocation lead to Pareto efficient outcomes, in which no party's situation can be ...
WordNet is a lexical database of semantic relations between words that links words into semantic relations including synonyms, hyponyms, and meronyms. The synonyms are grouped into synsets with short definitions and usage examples. It can thus be seen as a combination and extension of a dictionary and thesaurus.
If free of pipeline connection, field "A" illustrates the typical allocation case. A processing plant splits crude oil into three fractions. Metering stations on the export point satisfy requirements for custody transfer , measuring instrument for flare gas is a fiscal measurement if subject to taxation, it depends on regulatory requirements.
The perpetual resource concept is a complex one because the concept of resource is complex and changes with the advent of new technology (usually more efficient recovery), new needs, and to a lesser degree with new economics (e.g. changes in prices of the material, changes in energy costs, etc.).
It is concerned with how to allocate resources fairly among members of a society, taking into account factors such as wealth, income, and social status. Often contrasted with just process and formal equal opportunity , distributive justice concentrates on outcomes ( substantive equality ).
The individual is forced into a new system of rules while facing social stigma and stereotypes from the dominant group in society, further marginalizing and excluding individuals (Young, 2000). Thus, social policy and welfare provisions reflect the dominant notions in society by constructing and reinforcing categories of people and their needs.
The term is often hijacked and thus can lose its meaning. People use it for all sorts of things, such as saving the planet to recycling your rubbish. [27] A specific definition may never be possible. This is because sustainability is a concept that provides a normative structure. That describes what human society regards as good or desirable. [2]
In welfare economics and social choice theory, a social welfare function—also called a social ordering, ranking, utility, or choice function—is a function that ranks a set of social states by their desirability.