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This is an accepted version of this page This is the latest accepted revision, reviewed on 14 February 2025. Directionality of traffic flow by jurisdiction Countries by direction of road traffic, c. 2020 Left-hand traffic Right-hand traffic No data Left-hand traffic (LHT) and right-hand traffic (RHT) are the practices, in bidirectional traffic, of keeping to the left side or to the right side ...
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 ...
The lane designated for slower traffic is on the left. Most freeway exits are on the left. Overtaking is permitted to the right, and sometimes to the left. When driving on the right: The lane designated for faster traffic is on the left. The lane designated for slower traffic is on the right. Most freeway exits are on the right. Overtaking is ...
Left and right directions, body relative directions in terms of an observer; Left and right as designating different chiralities, independent of an observer (as in left glove, left-eyed flatfish, left-handed screw threads) Left- and right-handedness; Left- and right-laterality; Left- and right-ocular dominance; Left–right political spectrum ...
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Welfare economics is a branch of economics that uses microeconomic techniques to evaluate economic well-being, especially relative to competitive general equilibrium, with a focus on economic efficiency and income distribution. [13] In general usage, including by economists outside the above context, welfare refers to a form of transfer payment ...
This picture illustrates a variety of transportation systems: public transportation; private vehicle road use; and rail. Transport economics is a branch of economics founded in 1959 by American economist John R. Meyer that deals with the allocation of resources within the transport sector. [1]
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