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Advanced Placement (AP) Microeconomics (also known as AP Micro) is a course offered by the College Board as part of the Advanced Placement Program for high school students interested in college-level coursework in microeconomics and/or gaining advanced standing in college.
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 ...
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.
Performance improvement is measuring the output of a particular business process or procedure, then modifying the process or procedure to increase the output, increase efficiency, or increase the effectiveness of the process or procedure. Performance improvement can be applied to either individual performance, such as an athlete, or ...
Some areas did improve, while other areas, such as East Liberty and the Hill District, declined following ambitious projects that shifted traffic patterns, blocked streets to vehicular traffic, isolated or divided neighborhoods with highways, and removed large numbers of ethnic and minority residents.
Any strong Pareto improvement is also a weak Pareto improvement. The opposite is not true; for example, consider a resource allocation problem with two resources, which Alice values at {10, 0}, and George values at {5, 5}. Consider the allocation giving all resources to Alice, where the utility profile is (10, 0):
Advanced Placement (AP) Economics (also known as AP Econ) refers to two College Board Advanced Placement Program courses and exams addressing various aspects of the field of economics: AP Macroeconomics
Applied microeconomics includes a range of specialized areas of study, many of which draw on methods from other fields. Economic history examines the evolution of the economy and economic institutions, using methods and techniques from the fields of economics, history, geography, sociology, psychology, and political science.