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Dirigisme is seen in India after the end of British rule from 1947 with domestic policy tending towards protectionism, a strong emphasis on import substitution industrialisation, economic interventionism, a large government-run public sector, business regulation, and central planning, [9] while trade and foreign investment policies were ...
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 ...
In politics, a regime (also spelled régime) is a system of government that determines access to public office, and the extent of power held by officials. The two broad categories of regimes are democratic and autocratic .
A viral image of a headline shared on X claims world leaders have signed a World Economic Forum (WEF) treaty introducing “Age of Death” laws in the West. Verdict: False The claim is false and ...
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 ...
In economics, deadweight loss is the loss of societal economic welfare due to production/consumption of a good at a quantity where marginal benefit (to society) does not equal marginal cost (to society) – in other words, there are either goods being produced despite the cost of doing so being larger than the benefit, or additional goods are not being produced despite the fact that the ...
In any technical subject, words commonly used in everyday life acquire very specific technical meanings, and confusion can arise when someone is uncertain of the intended meaning of a word. This article explains the differences in meaning between some technical terms used in economics and the corresponding terms in everyday usage.
Policy uncertainty (also called regime uncertainty) is a class of economic risk where the future path of government policy is uncertain, raising risk premia and leading businesses and individuals to delay spending and investment until this uncertainty has been resolved. [1]