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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 ...
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 ...
Bangladesh Vision 2041 (Vision '41) is a national strategic plan to further develop the socio-economic standing of the People's Republic of Bangladesh, issued by former Prime Minister Sheikh Hasina and formulated by National Economic Council. As a part of four 5-year perspective plan to be undertaken between 2022 and 2041, Bangladesh is aiming ...
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
In economics a trade-off is expressed in terms of the opportunity cost of a particular choice, which is the loss of the most preferred alternative given up. [2] A tradeoff, then, involves a sacrifice that must be made to obtain a certain product, service, or experience, rather than others that could be made or obtained using the same required resources.
M2 money supply increases Year/Year Monetarism is a school of thought in monetary economics that emphasizes the role of policy-makers in controlling the amount of money in circulation . It gained prominence in the 1970s but was mostly abandoned as a direct guidance to monetary policy during the following decade because of the rise of inflation ...
Economic analysis also looks at the economics of climate change mitigation and the cost of climate adaptation. Mitigation costs will vary according to how and when emissions are cut. Early, well-planned action will minimize the costs. [5] Globally, the benefits and co-benefits of keeping warming under 2 °C exceed the costs. [6]
"Essay mill" companies hire university students, graduates, and professional writers to ghostwrite essays and term papers, and use advertising targeting students. Until the early 1990s, most essay mill companies were 'bricks and mortar' businesses offering their services by mail order or from offices in university or college towns. [ 3 ]