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Using a combination of sound absorption materials, arrays of microphones and speakers, and a digital processor, a restaurant operator can use a tablet computer to selectively control noise levels at different places in the restaurant: the microphone arrays pick up sound and send it to the digital processor, which controls the speakers to output ...
A pair of headphones being tested inside an anechoic chamber for soundproofing. Soundproofing is any means of impeding sound propagation.There are several methods employed including increasing the distance between the source and receiver, decoupling, using noise barriers to reflect or absorb the energy of the sound waves, using damping structures such as sound baffles for absorption, or using ...
An economic system, or economic order, [1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions , agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
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.
A budget surplus means the opposite: in total, the government has removed more money from private bank accounts via taxes than it has put back in via spending. Therefore, budget deficits, by definition, are equivalent to adding net financial assets to the private sector; whereas budget surpluses remove financial assets from the private sector.
In economics, a budget constraint represents all the combinations of goods and services that a consumer may purchase given current prices within their given income. Consumer theory uses the concepts of a budget constraint and a preference map as tools to examine the parameters of consumer choices .
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Economic noise, or simply noise, describes a theory of pricing developed by Fischer Black. Black describes noise as the opposite of information: hype, inaccurate ideas, and inaccurate data. His theory states that noise is everywhere in the economy and we can rarely tell the difference between it and information. Noise has two broad implications.
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