Search results
Results from the WOW.Com Content Network
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 ...
Non-financial assets, such as land and buildings, may also be included. For example, dictionary definitions of money include "wealth reckoned in terms of money" and "persons or interests possessing or controlling great wealth", [8] neither of which correspond to the economic definition.
Economy from then on meant national economy as a topic for the economic activities of the citizens of a state. Industrial Revolution The first economist in the true modern meaning of the word was the Scotsman Adam Smith (1723–1790) who was inspired partly by the ideas of physiocracy , a reaction to mercantilism and also later Economics ...
The economy principle in linguistics, also known as linguistic economy, is a functional explanation of linguistic form. It suggests that the organization of phonology , morphology , lexicon and syntax is fundamentally based on a compromise between simplicity and clarity, two desirable but to some extent incompatible qualities.
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 for supplying the wants of the society, and to employ the inhabitants ...
Pollution can be a simple example of market failure; if costs of production are not borne by producers but are by the environment, accident victims or others, then prices are distorted. An environmental scientist sampling water. The term "market failure" encompasses several problems which may undermine standard economic assumptions. Although ...
Eco-economic decoupling between GDP growth and greenhouse gas emissions decrease. Many environmentalists argue that GDP is a poor measure of social progress because it does not take into account harm to the environment. [54] [55] In the language of economics, everything comes down to its monetary value. [56]
Market size can be given in terms of the number of buyers and sellers in a particular market [61] or in terms of the total exchange of money in the market, generally annually (per year). When given in terms of money, market size is often termed "market value", but in a sense distinct from market value of individual products. For one and the ...