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The term antonym (and the related antonymy) is commonly taken to be synonymous with opposite, but antonym also has other more restricted meanings. Graded (or gradable) antonyms are word pairs whose meanings are opposite and which lie on a continuous spectrum (hot, cold). Complementary antonyms are word pairs whose meanings are opposite but ...
Keynesian economics advocates the use of automatic and discretionary countercyclical policies to lessen the impact of the business cycle. One example of an automatically countercyclical fiscal policy is progressive taxation. By taxing a larger proportion of income when the economy expands, a progressive tax tends to decrease demand when the ...
Antiphrasis is the rhetorical device of saying the opposite of what is actually meant in such a way that it is obvious what the true intention is. [1] Some authors treat and use antiphrasis just as irony, euphemism or litotes. [2] When the antiphrasal use is very common, the word can become an auto-antonym, [3] having opposite meanings ...
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 linguistics, converses or relational antonyms are pairs of words that refer to a relationship from opposite points of view, such as parent/child or borrow/lend. [ 1 ] [ 2 ] The relationship between such words is called a converse relation . [ 2 ]
An example in economics is "If the price of milk falls, ceteris paribus, the quantity of milk demanded will rise." This means that, if other factors, such as deflation, pricing objectives, utility, and marketing methods, do not change, the decrease in the price of milk will lead to an increase in demand for it.
Air pollution is an example of a public bad. A public bad, in economics, is the symmetrical opposite of a public good. Air pollution is the most obvious example since it is non-excludable and non-rival, and negatively affects welfare.
For example, a price ceiling may cause a shortage, but it will also enable a certain percentage of the population to purchase a product that they couldn't afford at market costs. [3] Economic shortages caused by higher transaction costs and opportunity costs (e.g., in the form of lost time) also mean that the distribution process is wasteful.