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End-of-life (product), a term used with respect to terminating the sale or support of goods and services; End-of-life care, medical care for patients with terminal illnesses or conditions that have become advanced, progressive and incurable; End of Life Vehicles Directive, European Community legislation; Death, the irreversible ending of ...
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 ...
Near the end of her life, she studied and concentrated on methodological problems in economics and tried to recover the original message of Keynes' General Theory. Between 1962 and 1980, she wrote many economics books for the general public. Robinson suggested developing an alternative to the revival of classical economics.
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".
In economics and industrial design, planned obsolescence (also called built-in obsolescence or premature obsolescence) is the concept of policies planning or designing a product with an artificially limited useful life or a purposely frail design, so that it becomes obsolete after a certain predetermined period of time upon which it ...
His words may have secured the money market. George W. Bush uttered 'the 10 most important words in the history of economics' during the 2008 financial crisis, Warren Buffett says — here's how ...
Robbins is noted as a free market economist, and for his definition of economics. The definition appears in the Essay by Robbins as: "Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses." [5] Robbins found that four conditions were necessary to support this ...
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 ...