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A sketch of a boot. The Sam Vimes "Boots" theory of socioeconomic unfairness, often called simply the boots theory, is an economic theory that people in poverty have to buy cheap and subpar products that need to be replaced repeatedly, proving more expensive in the long run than more expensive items.
Metaphorically, shoe leather cost is the cost of time and effort (or opportunity costs of time and effort) that people expend by holding less cash in order to reduce the inflation tax that they pay on cash holdings when there is high inflation.
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 .
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 federal budget is the major plan for a federal government's estimated future revenues and spending for the coming fiscal year. [1] The federal budget is representation of the financial plan for the goals and activities of the government which in turn reflects the debates surrounding the various economical principles and ideas.
The Russian school of constitutional economics was created in the early 21st century with the idea that CE allows for a combined economic and constitutional analysis in the legislative, first of all, budget process, thus helping to overcome arbitrariness in the economic and financial decision-making and to open entrance to civil society into ...
"Taiwan matters far more to the world economy than its 1% share of global GDP would indicate," Gareth Leather, Senior Economist in the Emerging Asia team at Capital Economics, wrote in a note.
A company with $5000 on hand and incomes of $3000 a month has a constraint of $8000. That means, if the terms of an economic exchange (buying equipment, etc.) require terms that are cash-in-advance, then the limit that the company can actually obtain is $8000.