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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 ...
If its economic base is concentrated in sectors that are growing, then it is in good shape. Methodologically, economic base analysis views the region as if it were a small nation and uses notions of relative and comparative advantage from international trade theory (Charles Tiebout 1963). In a sense, the activity is macroeconomics "written ...
Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. [ 9 ] Robbins describes the definition as not classificatory in "pick[ing] out certain kinds of behaviour" but rather analytical in "focus[ing] attention on a particular aspect of behaviour, the form imposed by the ...
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 narrow. A land or water passage that is confined or restricted by its narrow breadth, often a strait or a water gap. nation A stable community of people formed on the basis of a common geographic territory, language, economy, ethnicity, or psychological make-up as manifested in a common culture. national mapping agency A governmental agency which manages, produces, and publishes ...
Oxbow lake – U-shaped lake or pool left by an ancient river meander; Panhole – Depression or basin eroded into flat or gently sloping cohesive rock; Pothole – Natural bowl-shaped hollow carved into a streambed; Plunge pool – Depression at the base of a waterfall; Pond – Relatively small body of standing water
America Online CEO Stephen M. Case, left, and Time Warner CEO Gerald M. Levin listen to senators' opening statements during a hearing before the Senate Judiciary Committee on the merger of the two ...
The Doughnut, or Doughnut economics, is a visual framework for sustainable development – shaped like a doughnut or lifebelt – combining the concept of planetary boundaries with the complementary concept of social boundaries. [1] The name derives from the shape of the diagram, i.e. a disc with a hole in the middle.