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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 ...
Another of the characteristics of hyperconsumerism is the constant pursuit of novelty, encouraging consumers to buy new and discard the old, seen particularly in fashion, where the product lifecycle can be very short, measured sometimes in weeks only.
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 ...
In economics, a cardinal utility expresses not only which of two outcomes is preferred, but also the intensity of preferences, i.e. how much better or worse one outcome is compared to another. [ 1 ] In consumer choice theory , economists originally attempted to replace cardinal utility with the apparently weaker concept of ordinal utility .
Positive economics as a science concerns the investigation of economic behavior. [4] It deals with empirical facts as well as cause-and-effect relationships. It emphasizes that economic theories must be consistent with existing observations and produce precise, verifiable predictions about the phenomena under investigation.
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 ...
Novelty (derived from Latin word novus for "new") is the quality of being new, or following from that, of being striking, original or unusual. [1] Novelty may be the shared experience of a new cultural phenomenon or the subjective perception of an individual.
In the mid-1980s, a group of growth theorists became increasingly dissatisfied with common accounts of exogenous factors determining long-run growth, such as the Solow–Swan model. They favored a model that replaced the exogenous growth variable (unexplained technical progress) with a model in which the key determinants of growth were explicit ...