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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 ...
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
(non-Unicode name) ('Scarab' is an informal name for the generic currency sign) § Section sign: section symbol, section mark, double-s, 'silcrow' Pilcrow; Semicolon: Colon ℠ Service mark symbol: Trademark symbol / Slash (non-Unicode name) Division sign, Forward Slash: also known as "stroke" / Solidus (the most common of the slash symbols ...
Grelling–Nelson paradox: Is the word "heterological", meaning "not applicable to itself", a heterological word? (A close relative of Russell's paradox.) Hilbert–Bernays paradox: If there was a name for a natural number that is identical to a name of the successor of that number, there would be a natural number equal to its successor.
In economics, a budget constraint represents all the combinations of goods and services that a consumer may purchase given current prices within their given income. Consumer theory uses the concepts of a budget constraint and a preference map as tools to examine the parameters of consumer choices .
This is an incomplete alphabetical list by surname of notable economists, experts in the social science of economics, past and present. For a history of economics, see the article History of economic thought. Only economists with biographical articles in Wikipedia are listed here.
This list of eponymous laws provides links to articles on laws, principles, adages, and other succinct observations or predictions named after a person.In some cases the person named has coined the law – such as Parkinson's law.
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...