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Display a year or month calendar Template parameters [Edit template data] Parameter Description Type Status Year year the ordinal year number of the calendar Default current Number suggested Month month whether to display a single month instead of a whole year, and which one Default empty Example current, next, last, 1, January String suggested Show year show_year whether to display the year ...
Only if the two products satisfy the three conditions, will they be classified as close substitutes according to economic theory. The opposite of a substitute good is a complementary good, these are goods that are dependent on another. An example of complementary goods are cereal and milk. An example of substitute goods are tea and coffee.
In economics, gross substitutes (GS) is a class of utility functions on indivisible goods. An agent is said to have a GS valuation if, whenever the prices of some items increase and the prices of other items remain constant, the agent's demand for the items whose price remain constant weakly increases.
The following is a list of GCE Ordinary Level subjects offered by Cambridge International Examinations (CAIE).You can choose from more than 40 subjects in any combination. [ 1 ] Cambridge O Levels, Cambridge IGCSE and/or Cambridge International Level 1 or Level 2 Certificates may be taken in the same examination session but certain combinations ...
An economic calendar not only lists daily events, but the volatility levels attached to them. A volatility level refers to the likelihood that a specific event will impact the markets. Economic calendars usually have a three-scale volatility gauge. If an event has a level one volatility, it is not expected to significantly affect the markets.
In auction theory and competitive equilibrium theory, a valuation function is said to have the gross substitutes (GS) property if for all pairs of commodities: () (). I.e., the definition includes both substitute goods and independent goods , and only rules out complementary goods .
Buyers propensity to substitute – how willing the consumer is to use a substitute. Can incorporate both intangible and tangible factors such as brand loyalty and contractual agreements; Perceived level of product differentiation - how unique the product or service is; Ease of substitution; Availability of close substitutes [10]
In managerial economics, isoquants are typically drawn along with isocost curves in capital-labor graphs, showing the technological tradeoff between capital and labor in the production function, and the decreasing marginal returns of both inputs. In managerial economics, the unit of isoquant is commonly the net of capital cost.