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An economic theory that defines wealth by the amount of precious metals owned. [48] business cycle. Also called the economic cycle or trade cycle. The downward and upward movement of gross domestic product (GDP) around its long-term growth trend. [49] The length of a business cycle is the period of time containing a single boom and contraction ...
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
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Contraction (economics), a general slowdown in economic activity; the opposite of economic expansion Contraction (physics) , change in the volume of matter in response to a change in temperature Lanthanide contraction , the decrease in size of the ionic radius of lanthanide elements with their growing atomic number
Complexity economics is the application of complexity science to the problems of economics. It relaxes several common assumptions in economics, including general equilibrium theory . While it does not reject the existence of an equilibrium, it features an non-equilibrium approach and sees such equilibria as a special case and as an emergent ...
If S + T + M > I + G + X the levels of income, output, expenditure and employment will fall causing a recession or contraction in the overall economic activity. But if S + T + M < I + G + X the levels of income, output, expenditure and employment will rise causing a boom or expansion in economic activity.
In an eccentric movement, the force of the contraction is less than the force giving upon it, so the muscle can lengthen at an appropriate time,” says Guillermo Escalante, DSc, C.S.C.S., a ...
The region of the plane between two concentric circles is an annulus, and analogously the region of space between two concentric spheres is a spherical shell. [6] For a given point c in the plane, the set of all circles having c as their center forms a pencil of circles. Each two circles in the pencil are concentric, and have different radii.