Search results
Results from the WOW.Com Content Network
The Group 3: Individuals and societies subjects of the IB Diploma Programme consist of ten courses offered at both the Standard level (SL) and Higher level (HL): Business Management, Economics, Geography, Global Politics, History, Information technology in a global society (ITGS), Philosophy, Psychology, Social and cultural anthropology, and World religions (SL only). [1]
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 ...
Economics classes make extensive use of supply and demand graphs like this one to teach about markets. In this graph, S and D refer to supply and demand and P and Q refer to the price and quantity. The following outline is provided as an overview of and topical guide to economics:
Macroeconomics encompasses a variety of concepts and variables, but above all the three central macroeconomic variables are output, unemployment, and inflation. [5]: 39 Besides, the time horizon varies for different types of macroeconomic topics, and this distinction is crucial for many research and policy debates.
Ecological economics concepts (6 P) M. Marginal concepts (28 P) Pages in category "Economic concepts" The following 4 pages are in this category, out of 4 total.
In microeconomics, a production–possibility frontier (PPF), production possibility curve (PPC), or production possibility boundary (PPB) is a graphical representation showing all the possible options of output for two that can be produced using all factors of production, where the given resources are fully and efficiently utilized per unit time.
In a passage of An Inquiry into the Nature and Causes of the Wealth of Nations, Smith discusses the concepts of value in use and value in exchange, and observes how they tend to differ. He writes: He writes:
In the philosophy of economics, economics is often divided into positive (or descriptive) and normative (or prescriptive) economics.Positive economics focuses on the description, quantification and explanation of economic phenomena, [1] while normative economics discusses prescriptions for what actions individuals or societies should or should not take.