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Quantifiers are a kind of determiner and occur in many constructions with other determiners, like articles: e.g., two dozen or more than a score. Scientific non-numerical quantities are represented as SI units.
Welfare economics is a branch of economics that uses microeconomic techniques to evaluate economic well-being, especially relative to competitive general equilibrium, with a focus on economic efficiency and income distribution. [13] In general usage, including by economists outside the above context, welfare refers to a form of transfer payment ...
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 ...
In English, some words that have a precise numerical definition are often used indefinitely: couple, 2; [5] dozen, 12; score, 20; myriad, 10,000. Unlike cardinal numbers these can be pluralized, in which case they require of before the noun ( millions of dollars , but five million dollars ) and require the indefinite article "a" in the singular ...
Along with analyzing its nature and classification, the issues of quantity involve such closely related topics as dimensionality, equality, proportion, the measurements of quantities, the units of measurements, number and numbering systems, the types of numbers and their relations to each other as numerical ratios.
Much of classical economics can be presented in simple geometric terms or elementary mathematical notation. Mathematical economics, however, conventionally makes use of calculus and matrix algebra in economic analysis in order to make powerful claims that would be more difficult without such mathematical tools. These tools are prerequisites for ...
The measurable variables in economics are quantity, quality and distribution. Measuring quantity in economics follows the rules of measuring in physics. Quality as a variable refers to qualitative changes in the production process. Qualitative changes take place when relative of different constant-price input and output factors alter.
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), Gross national income (GNI), net national income (NNI), and adjusted national income (NNI adjusted for natural resource depletion – also called as NNI at factor cost).