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Welfare economics is a branch of economics that uses microeconomic techniques to evaluate economic well-being, especially relative to competitive general equilibrium, with a focus on economic efficiency and income distribution. [13] In general usage, including by economists outside the above context, welfare refers to a form of transfer payment ...
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 ...
The Brandenburg Gate (German: Brandenburger Tor [ˈbʁandn̩ˌbʊʁɡɐ ˈtoːɐ̯] ⓘ) is an 18th-century neoclassical monument in Berlin.One of the best-known landmarks of Germany, it was erected on the site of a former city gate that marked the start of the road from Berlin to Brandenburg an der Havel, the former capital of the Margraviate of Brandenburg.
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 ...
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".
A side-spar cable-stayed bridge may be an otherwise conventional cable-stayed bridge, but its cable support does not span the roadway, and is instead cantilevered from one side. The Esplanade Riel illustrated is located in Winnipeg, Manitoba, Canada. [1] This bridge is intended for pedestrian use only and has a restaurant in its base.
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A bridge can be categorized by what it is designed to carry, such as trains, pedestrian or road traffic (road bridge), a pipeline (Pipe bridge) or waterway for water transport or barge traffic. An aqueduct is a bridge that carries water, resembling a viaduct, which is a bridge that connects points of equal height.