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relative abundance is the condition where the available quantities of useful goods with alternative uses are greater than the multiple, different human requirements. Economic theory views absolute and relative scarcity as distinct concepts and "...quick in emphasizing that it is relative scarcity that defines economics."
Scarcity value is an economic factor describing the increase in an item's relative price by a low supply.Whereas the prices of newly manufactured products depends mostly on the cost of production (the cost of inputs used to produce them, which in turn reflects the scarcity of the inputs), the prices of many goods—such as antiques, rare stamps, and those raw materials in high demand ...
"Isang Bansa, Isang Diwa" was adopted on June 9, 1978 by virtue of Presidential Decree No. 1413, [4] a key element in Marcos's vision of building his "New Society".When the new motto was finally unveiled three days later on Independence Day during the 1978 State of the Nation Address, Marcos claimed that it was imperative for the nation to build a united though diverse political community.
A relative price is the price of a commodity such as a good or service in terms of another; i.e., the ratio of two prices. A relative price may be expressed in terms of a ratio between the prices of any two goods or the ratio between the price of one good and the price of a market basket of goods (a weighted average of the prices of all other goods available in the market).
Relative is a term used in physics, and especially in Galilean, special and general relativity, to denote that something is dependent on a reference frame, or that it is taken specifically in a given reference frame ("its velocity relative to the cow is 15.5m/s", "time and Space are relative, not fixed")
Utang na loob (Bisayan: utang kabubut-un) is a Filipino cultural trait which, when translated literally, means "a debt of one's inner self ()." [1]Charles Kaut translated the term in 1961 as a "debt of gratitude," [2] [3] while Tomas Andres took his cue from Kaut when he translated it in 1994 as "reciprocity," [3] but Virgilio Enriquez suggests a more accurate translation in combining the ...
In response to exploration of the concept of relative deprivation, the term "relative gratification" has emerged in social psychology to discuss the opposite phenomenon. [11] [12] According to a June 2015 report by the IMF, the defining challenge of our time is widening income inequality. In advanced economies, the gap between the rich and poor ...
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