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  2. Novelty effect - Wikipedia

    en.wikipedia.org/wiki/Novelty_effect

    The increased attention by students sometimes results in increased effort or persistence, which yields achievement gains. If they are due to a novelty effect, these gains tend to diminish as students become more familiar with the new medium. This was the case in reviews of computer-assisted instruction at the secondary school level, grades 6 to ...

  3. Appeal to novelty - Wikipedia

    en.wikipedia.org/wiki/Appeal_to_novelty

    The appeal to novelty (also called appeal to modernity or argumentum ad novitatem) is a logical fallacy in which one prematurely claims that an idea or proposal is correct or superior, exclusively because it is new and modern. [1] In a controversy between status quo and new inventions, an appeal to novelty argument is not in itself a valid ...

  4. Glossary of economics - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_economics

    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 ...

  5. An Essay on the Nature and Significance of Economic Science

    en.wikipedia.org/wiki/An_Essay_on_the_Nature_and...

    The Essay has been described as different from earlier writings on economic methodology in generating a range of tightly argued, radical implications from a simple definition, for example in admitting an aspect of behaviour (rather than a list of behaviours) but not limiting the subject-matter of economics, provided that the influence of ...

  6. Essay - Wikipedia

    en.wikipedia.org/wiki/Essay

    Subsequently, essay has been defined in a variety of ways. One definition is a "prose composition with a focused subject of discussion" or a "long, systematic discourse". [3] It is difficult to define the genre into which essays fall. Aldous Huxley, a leading essayist, gives guidance on the subject. [4]

  7. Theory of imputation - Wikipedia

    en.wikipedia.org/wiki/Theory_of_imputation

    In economics, the theory of imputation, first expounded by Carl Menger, maintains that factor prices are determined by output prices [6] (i.e. the value of factors of production is the individual contribution of each in the final product, but its value is the value of the last contributed to the final product (the marginal utility before reaching the point Pareto optimal).

  8. Factor market - Wikipedia

    en.wikipedia.org/wiki/Factor_market

    In economics, a factor market is a market where factors of production are bought and sold. Factor markets allocate factors of production, including land, labour and capital, and distribute income to the owners of productive resources, such as wages, rents, etc. [1] Firms buy productive resources in return for making factor payments at factor ...

  9. Definitions of economics - Wikipedia

    en.wikipedia.org/wiki/Definitions_of_economics

    James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...