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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 ...
Chapter 25, "A Note on Books", recommends several books for those interested in further reading on economics. He suggests some intermediate-length works, such as Frederic Benham's "Economics" and Raymond T. Bye's "Principles of Economics," as well as older books like Edwin Canaan's "Wealth" and John Bates Clark's "Essentials of Economic Theory."
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 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".
In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. [1] A typical example is the machinery used in a factory. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a ...
A 16-year-old New Mexico boy was arrested Saturday morning after he allegedly gunned down his parents and teenage siblings and then drunkenly called 911 to confess to the quadruple homicide ...
It was like it was her birthday. She kept her eyes closed as the cat was placed in front of her like a gift. "She's chocolate-chocolate," another vet tech told her, referring to the cat's unique ...
LONDON/SINGAPORE (Reuters) -European shares ticked up on Thursday after falling the previous day, while Asian stocks slipped, as trading volumes thinned ahead of the U.S. Thanksgiving holiday.