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A study attempted to quantify the costs of cars (i.e. of car-use and related decisions and activity such as production and transport/infrastructure policy) in conventional currency, finding that the total lifetime cost of cars in Germany is between 0.6 and 1.0 million euros with the share of this cost born by society being between 41% (€4674 ...
A study attempted to quantify the costs of cars (i.e. of car-use and related decisions and activity such as production and transport/infrastructure policy) in conventional currency, finding that the total lifetime cost of cars in Germany is between 0.6 and 1.0 million euros with the share of this cost born by society being between 41% (€4674 ...
Rather than assuming some (new) form of capitalism is the best way forward, an older ecological economic critique questions the very idea of internalizing externalities as providing some corrective to the current system. The work by Karl William Kapp [80] argues that the concept of "externality" is a misnomer. [81]
A car is a durable good. The gasoline that powers it is a non-durable (or consumable) good.. In economics, a durable good or a hard good or consumer durable is a good that does not quickly wear out or, more specifically, one that yields utility over time rather than being completely consumed in one use.
The precise definition of what constitutes an economy car has varied with time and place, based on the conditions prevailing at the time, such as fuel prices, disposable income of buyers, and cultural mores. [6] [7] [2] It typically refers to a car that is designed to be small and lightweight to offer low-cost operation. [8]
Discrete choice models theoretically or empirically model choices made by people among a finite set of alternatives. The models have been used to examine, e.g., the choice of which car to buy, [1] [3] where to go to college, [4] which mode of transport (car, bus, rail) to take to work [5] among numerous other applications. Discrete choice ...
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".
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 ...