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Electrification is the process of powering by electricity and, in many contexts, the introduction of such power by changing over from an earlier power source. In the context of history of technology and economic development, electrification refers to the build-out of the electricity generation and electric power distribution systems.
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 right to Internet access, also known as the right to broadband or freedom to connect, is the view that all people must be able to access the Internet in order to exercise and enjoy their rights to freedom of expression and opinion and other fundamental human rights, that states have a responsibility to ensure that Internet access is broadly available, and that states may not unreasonably ...
These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments.
Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) [1] [2] is a social science that studies the production, distribution, and consumption of goods and services. [3] [4] Economics focuses on the behaviour and interactions of economic agents and how economies work.
One of the main factors that hindering people from adopting and use Internet of things (IoT) based products and services is its complexity. [184] Installation and setup is a challenge to people, therefore, there is a need for IoT devices to mix match and configure themselves automatically to provide different services at different situation. [185]
Wired communication refers to the transmission of data over a wire-based communication technology (telecommunication cables). Wired communication is also known as wireline communication . Examples include telephone networks , cable television or internet access , and fiber-optic communication .
Human economic decision making is often reference dependent, in which options are weighed in reference to the status quo rather than absolute gains and losses. Humans are also loss averse, fearing loss rather than seeking gain. [51] Advanced economic behavior developed in humans after the Neolithic Revolution and the development of agriculture.