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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 ...
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In economics a trade-off is expressed in terms of the opportunity cost of a particular choice, which is the loss of the most preferred alternative given up. [2] A tradeoff, then, involves a sacrifice that must be made to obtain a certain product, service, or experience, rather than others that could be made or obtained using the same required resources.
The European Economic and Social Committee (EESC), an advisory body of the EU, [48] announced in 2013 that it was studying "a total ban on planned obsolescence". It said replacing products that are designed to stop working within two or three years of their purchase was a waste of energy and resources and generated pollution. [ 49 ]
Standard economic theory suggests that in relatively open international financial markets, the savings of any country would flow to countries with the most productive investment opportunities; hence, saving rates and domestic investment rates would be uncorrelated, contrary to the empirical evidence suggested by Martin Feldstein and Charles ...
Medical biophysics – interdisciplinary field that applies methods and concepts from physics to medicine or healthcare, ranging from radiology to microscopy and nanomedicine. See also, medical physics. Clinical biophysics – studies the process and effects of non-ionizing physical energies utilized for diagnostic and therapeutic purposes. [2] [3]
Physics – negentropy, stochastic processes, and the development of new physical techniques and instrumentation as well as their application. Quantum biology – The field of quantum biology applies quantum mechanics to biological objects and problems. Decohered isomers to yield time-dependent base substitutions. These studies imply ...
Astronautics – Theory and practice of navigation beyond the Earth's atmosphere; Astronomy – Scientific study of celestial objects; Astrophysics – Subfield of astronomy – study of behaviour of interstellar matter. Atmology – the science of aqueous vapor. [10] Audiology – Branch of science that studies hearing, balance, and related ...