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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 ...
Three sectors according to Fourastié Clark's sector model This figure illustrates the percentages of a country's economy made up by different sector. The figure illustrates that countries with higher levels of socio-economic development tend to have less of their economy made up of primary and secondary sectors and more emphasis in tertiary sectors.
Such words are known as unpaired words. Opposites may be viewed as a special type of incompatibility. [1] Words that are incompatible create the following type of entailment (where X is a given word and Y is a different word incompatible with word X): [2] sentence A is X entails sentence A is not Y [3]
It is sometimes hard to determine whether a given company is part of the secondary or the tertiary sector. It is not only companies that have been classified as part of a sector in some schemes, since governments and their services (such as the police or military), as well as nonprofit organizations (such as charities or research associations), can also be seen as part of that sector.
Engineers generally limit the term "infrastructure" to describe fixed assets that are in the form of a large network; in other words, hard infrastructure. [ citation needed ] Efforts to devise more generic definitions of infrastructures have typically referred to the network aspects of most of the structures, and to the accumulated value of ...
In economics, industrial organization is a field that builds on the theory of the firm by examining the structure of (and, therefore, the boundaries between) firms and markets. Industrial organization adds real-world complications to the perfectly competitive model, complications such as transaction costs , [ 1 ] limited information , and ...
A federal judge in New York on Friday denied former New Jersey Sen. Robert Menendez's bid for a new trial. "The jury's guilty verdicts were readily supported by the extensive witness testimony and ...
The following outline is provided as an overview of and topical guide to industry: Industry , in economics and economic geography , refers to the production of an economic good or service within an economy .