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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 ...
A subroutine can check the context using the wantarray function. A special syntax of return without arguments is used to return an undefined value in scalar context and an empty list in list context. The scalar context can be further divided into Boolean, number, string, and various reference types contexts.
Python sets are very much like mathematical sets, and support operations like set intersection and union. Python also features a frozenset class for immutable sets, see Collection types. Dictionaries (class dict) are mutable mappings tying keys and corresponding values. Python has special syntax to create dictionaries ({key: value})
Typical programming languages used in computational economics research include C++, MATLAB, Julia, Python, R and Stata. Among these programming languages, C++ as a compiled language performs the fastest, while Python as an interpreted language is the slowest. MATLAB, Julia, and R achieve a balance between performance and interpretability.
Economic analysts have argued that the economy of the Soviet Union actually represented an administrative or command economy as opposed to a planned economy because planning did not play an operational role in the allocation of resources among productive units in the economy since in actuality the main allocation mechanism was a system of ...
The Zen of Python is a collection of 19 "guiding principles" for writing computer programs that influence the design of the Python programming language. [1] Python code that aligns with these principles is often referred to as "Pythonic". [2] Software engineer Tim Peters wrote this set of principles and posted it on the Python mailing list in ...
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 ...
The mainstream view is that market economies are generally believed to be closer to efficient than other known alternatives [4] and that government involvement is necessary at the macroeconomic level (via fiscal policy and monetary policy) to counteract the economic cycle – following Keynesian economics.