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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 ...
K – Is used as an abbreviation for 1,000. For example, $225K would be understood to mean $225,000, and $3.6K would be understood to mean $3,600. Multiple K's are not commonly used to represent larger numbers. In other words, it would look odd to use $1.2KK to represent $1,200,000. Ke – Is used as an
The everyday usage of the word unemployed is usually broad enough to include disguised unemployment, and may include people with no intention of finding a job. For example, a dictionary definition is: "not engaged in a gainful occupation", [7] which is broader than the economic definition.
The labour supply curve shows how changes in real wage rates might affect the number of hours worked by employees.. In economics, a backward-bending supply curve of labour, or backward-bending labour supply curve, is a graphical device showing a situation in which as real (inflation-corrected) wages increase beyond a certain level, people will substitute time previously devoted for paid work ...
The broader the definition of a good, the easier it is for the good to have a substitute good. On the other hand, a good narrowly defined will be likely to not have a substitute good. For example, different types of cereal generally are substitutes for each other, but Rice Krispies cereal, which is a very narrowly defined good as compared to ...
This is a list of common abbreviations in the English language ... substitute subway sum summarize sus (or suss) suspect sush sushi sync or synch synchronization
Like all educators, the job of a substitute teacher has become more fraught during the past two years. They are called upon to teach in schools where children are likely still unvaccinated and ...
Substitute (cricket) Substitute good, in economics, a good that can be used instead of another; Ersatz good, in economics, a substitute good, inferior in quality; Substitute character, on keyboards, a control character used in the place of another character; Substitute natural gas; Substitute teacher, a temporary replacement in a teacher's absence