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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 ...
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 statistics, ranking is the data transformation in which numerical or ordinal values are replaced by their rank when the data are sorted. For example, the ranks of the numerical data 3.4, 5.1, 2.6, 7.3 are 2, 3, 1, 4.
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
In statistics and research design, an index is a composite statistic – a measure of changes in a representative group of individual data points, or in other words, a compound measure that aggregates multiple indicators. [1] [2] Indices – also known as indexes and composite indicators – summarize and rank specific observations. [2]
The researchers wanted to systematically study the smell of mummies because it has long been a subject of fascination for the public and researchers alike, said Bembibre, one of the report’s ...
To "rank up" is to achieve a higher ranking relative to other players, especially with strategies that do not depend on the player's skill. The TrueSkill ranking system is a skill based ranking system for Xbox Live developed at Microsoft Research. A bibliogram ranks common noun phrases in a piece of text.
"Smell", from Allegory of the Senses by Jan Brueghel the Elder, Museo del Prado. An odor (American English) or odour (Commonwealth English; see spelling differences) is a smell or a scent caused by one or more volatilized chemical compounds generally found in low concentrations that humans and many animals can perceive via their olfactory system.