Search results
Results From The WOW.Com Content Network
Essentially, capital accumulation comes to define economic rationality in capitalist production. [103] A society, region or nation is capitalist if the predominant source of incomes and products being distributed is capitalist activity, but even so this does not yet mean necessarily that the capitalist mode of production is dominant in that ...
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 ...
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]
In Marxist philosophy, cultural hegemony is the dominance of a culturally diverse society by the ruling class who shape the culture of that society—the beliefs and explanations, perceptions, values, and mores—so that the worldview of the ruling class becomes the accepted cultural norm. [1]
The social market economic model, sometimes called Rhine capitalism, is based upon the idea of realizing the benefits of a free-market economy, especially economic performance and high supply of goods while avoiding disadvantages such as market failure, destructive competition, concentration of economic power and the socially harmful effects of ...
Market dominance is the control of a economic market by a firm. [1] A dominant firm possesses the power to affect competition [2] and influence market price. [3] A firms' dominance is a measure of the power of a brand, product, service, or firm, relative to competitive offerings, whereby a dominant firm can behave independent of their competitors or consumers, [4] and without concern for ...
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 ...
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 ...