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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 ...
Non-financial assets, such as land and buildings, may also be included. For example, dictionary definitions of money include "wealth reckoned in terms of money" and "persons or interests possessing or controlling great wealth", [8] neither of which correspond to the economic definition.
In 1803, J.B. Say distinguished the subject from its public-policy uses, defining it as the science of the production, distribution, and consumption of wealth. [2] On the satirical side, Thomas Carlyle (1849) coined 'the dismal science' as an epithet for classical economics, a term often linked to the pessimistic analysis of Malthus (1798). [3]
The word economy has been used in different ways in linguistics and sometimes only refers to parsimony (or notational parsimony, e.g., Louis Hjelmslev).Grammatical efficiency (John A. Hawkins) is another single-principle concept relating to sentence processing; and economy in generative grammar refers simultaneously to notational parsimony and syntactic processing.
Economics classes make extensive use of supply and demand graphs like this one to teach about markets. 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:
The terms jargon, slang, and argot are not consistently differentiated in the literature; different authors interpret these concepts in varying ways. According to one definition, jargon differs from slang in being secretive in nature; [3] according to another understanding, it is specifically associated with professional and technical circles. [4]
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".
The following terms are in everyday use in financial regions, ... Geffner, Andrea B. (2004), "A glossary of business terms", Business English, ...