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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 ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 21 February 2025. Economic system based on private ownership This article is about an economic system. For other uses, see Capitalism (disambiguation). "Capitalist" redirects here. For other uses, see Capitalist (disambiguation). Part of a series on Capitalism Concepts Austerity Business Business cycle ...
The term "society" often refers to a large group of people in an ordered community, in a country or several similar countries, or the 'state of being with other people', e.g. "they lived in medieval society." [1] The term dates back to at least 1513 and comes from the 12th-century French societe (modern French société) meaning 'company'. [2]
A dominant culture is a cultural practice that is dominant within a particular political, social or economic entity, in which multiple cultures co-exist. It may refer to a language, religion or ritual practices, social value and/or social custom. These features are often a norm for an entire society.
[2] [full citation needed] [3] When the social control is carried out by another society, it is known as cultural imperialism. In philosophy and in sociology, the denotations and the connotations of term cultural hegemony derive from the Ancient Greek word hegemonia (ἡγεμονία), which indicates the leadership and the régime of the ...
In sociology and in political science, the term "the establishment" describes the dominant social group, the elite who control a polity, an organization, or an institution. In the praxis of wealth and power , the Establishment usually is a self-selecting, closed elite entrenched within specific institutions — hence, a relatively small social ...
Class society or class-based society is an organizing principle society in which ownership of property, means of production, and wealth is the determining factor of the distribution of power, in which those with more property and wealth are stratified higher in the society and those without access to the means of production and without wealth ...
An economic ideology is a set of views forming the basis of an ideology on how the economy should run. It differentiates itself from economic theory in being normative rather than just explanatory in its approach, whereas the aim of economic theories is to create accurate explanatory models to describe how an economy currently functions.