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RGR is a concept relevant in cases where the increase in a state variable over time is proportional to the value of that state variable at the beginning of a time period. In terms of differential equations , if S {\displaystyle S} is the current size, and d S d t {\displaystyle {\frac {dS}{dt}}} its growth rate, then relative growth rate is
In the Solow-Swan model, economic growth is driven by the accumulation of physical capital until this optimum level of capital per worker, which is the "steady state" is reached, where output, consumption and capital are constant. The model predicts more rapid growth when the level of physical capital per capita is low, something often referred ...
In economics, the concept of returns to scale arises in the context of a firm's production function.It explains the long-run linkage of increase in output (production) relative to associated increases in the inputs (factors of production).
An example of ecological stability . In ecology, an ecosystem is said to possess ecological stability (or equilibrium) if it is capable of returning to its equilibrium state after a perturbation (a capacity known as resilience) or does not experience unexpected large changes in its characteristics across time. [1]
Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) [1] [2] is a social science that studies the production, distribution, and consumption of goods and services. [3] [4] Economics focuses on the behaviour and interactions of economic agents and how economies work.
The relative income hypothesis was developed by James Duesenberry in 1949. It consists of two separate consumption hypothesis. It consists of two separate consumption hypothesis. The first hypothesis states that an individual's attitude to consumption is dictated more by their income in relation to others than by an abstract standard of living .
Historically there has been a close correlation between economic growth and environmental degradation: as communities grow in size and prosperity, so the environment declines. This trend is clearly demonstrated on graphs of human population numbers, economic growth, and environmental indicators. [13]
The definition of range is further confounded by how the total realized range size is measured. There are two types of measurements commonly in use, the extent of occurrence (EOO) (For definition: see ALA and Fig.1 [6]) and the area of occupancy (AOO) (see also the Scaling pattern of occupancy, and for a definition, see Fig. 2 and ALA [6]). The ...