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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 ...
Business cycles are a type of fluctuation found in the aggregate economic activity of nations that organize their work mainly in business enterprises: a cycle consists of expansions occurring at about the same time in many economic activities, followed by similarly general recessions, contractions, and revivals which merge into the expansion ...
A periodical literature (also called a periodical publication or simply a periodical) is a published work that appears in a new edition on a regular schedule. The most familiar example is a newspaper , but a magazine or a journal are also examples of periodicals.
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 secular variation of a time series is its long-term, non-periodic variation (see Decomposition of time series).Whether a variation is perceived as secular or not depends on the available timescale: a variation that is secular over a timescale of centuries may be a segment of what is, over a timescale of millions of years, a periodic variation.
Periodic acid, a compound of iodine Principle of periodicity, a concept in generally accepted accounting principles Quasiperiodicity , property of a system that displays irregular periodicity
In time series data, seasonality refers to the trends that occur at specific regular intervals less than a year, such as weekly, monthly, or quarterly. Seasonality may be caused by various factors, such as weather, vacation, and holidays [1] and consists of periodic, repetitive, and generally regular and predictable patterns in the levels [2] of a time series.