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An expert witness is a witness, who by virtue of education, training, skill, or experience, is believed to have expertise and specialised knowledge in a particular subject beyond that of the average person, sufficient that others may officially and legally rely upon the witness's specialized (scientific, technical or other) opinion about an evidence or fact issue within the scope of his ...
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
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 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".
Evidence-based medicine is a deliberate effort to acknowledge expert opinion (conventional wisdom) and how it coexists with scientific data. Evidence-based medicine acknowledges that expert opinion is "evidence" and plays a role to fill the "gap between the kind of knowledge generated by clinical research studies and the kind of knowledge necessary to make the best decision for individual ...
In political science, economic voting is a theoretical perspective which argues that voter behavior is heavily influenced by the economic conditions in their country at the time of the election. According to the classical form of this perspective, voters tend to vote more in favor of the incumbent candidate and party when the economy is doing ...
(Reuters) - The Washington Post said on Tuesday it would lay off about 4% of its workforce or less than 100 employees in a bid to cut costs, as the storied newspaper grapples with growing losses.
Positive economics as a science concerns the investigation of economic behavior. [4] It deals with empirical facts as well as cause-and-effect relationships. It emphasizes that economic theories must be consistent with existing observations and produce precise, verifiable predictions about the phenomena under investigation.