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In this graph, S and D refer to supply and demand and P and Q refer to the price and quantity. The following outline is provided as an overview of and topical guide to economics: Economics – analyzes the production, distribution, and consumption of goods and services. It aims to explain how economies work and how economic agents interact.
Agricultural; Behavioral; Business; Cultural; Democracy; Demographic; Development; Digitization; Ecological; Education; Engineering; Environmental; Evolutionary ...
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 ...
Welfare economics is a normative branch of economics that uses microeconomic techniques to simultaneously determine the allocative efficiency within an economy and the income distribution associated with it. It attempts to measure social welfare by examining the economic activities of the individuals that comprise society. [174]
Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. [1] This includes regional, national, and global economies .
It was expressed by E. Roy Weintraub that neoclassical economics rests on three assumptions, although certain branches of neoclassical theory may have different approaches: [8] People have rational preferences between outcomes that can be identified and associated with values. Individuals maximize utility and firms maximize profits.
Capital (economics) – Capital asset – Capital intensity – Capitalism – Cartel – Cash crop – Catch-up effect – Celtic Tiger – Central bank – Ceteris paribus – Charity shop – Chicago School of Economics – Circular flow of income — Classical economics – Classical general equilibrium model – Coase conjecture – Coase theorem – Cobweb model – Collective action ...
Theoretical economic geography is a branch of economic geography concerned with understanding the spatial distribution of economic activity. Theoretical techniques in this branch of economics explain a number of phenomena such as: [1] The clustering of people and businesses into cities.