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v. t. e. An economy[a] is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. [3] A given economy is a set of processes ...
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 ...
Massachusetts is the sixth-smallest state by land area. With over seven million residents as of 2020, [ note 1 ] it is the most populous state in New England, the 16th-most-populous in the country, and the third-most densely populated, after New Jersey and Rhode Island. Massachusetts was a site of early English colonization.
v. t. e. Economics (/ ˌɛkəˈnɒmɪks, ˌiːkə -/) [ 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 United States is a highly developed mixed economy. [41] [42] [43] It is the world's largest economy by nominal GDP; it is also the second largest by purchasing power parity (PPP), behind China. [44]
Luxembourg is a developed country with an advanced economy and one of the world's highest GDP (PPP) per capita as per IMF and World Bank estimates, making it the richest country in the world. The nation's levels of human development and LGBT equality are ranked among the highest in Europe.
The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production, consumption, economic management, work in general, financial transactions and trade of goods and services. [1][2] In some ...
A speculative representation of Antarctica labelled as ' Terra Australis Incognita ' on Jan Janssonius's Zeekaart van het Zuidpoolgebied (1657), Het Scheepvaartmuseum The name given to the continent originates from the word antarctic, which comes from Middle French antartique or antarctique ('opposite to the Arctic') and, in turn, the Latin antarcticus ('opposite to the north').