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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 ...
It can be synonyms, antonyms, explanations, examples, or familiar word-parts (prefix or suffix). [10] It can be definitions, comparisons, or contrasts. [11] Meaning can also be derived via descriptions of cause and effect or through inference. [12] A 1966 study identified fourteen types of context clues for native speakers. [13]
A Wall Street Journal report earlier this year revealed that Trump’s economic advisers drafted a plan to undermine the Fed’s independence by giving the president a greater say in the central ...
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".
Buffett deemed this quip “the 10 most important words in the history of economics,” he told billionaire Dan Gilbert during an interview at the Detroit Homecoming event at the College for ...
In any technical subject, words commonly used in everyday life acquire very specific technical meanings, and confusion can arise when someone is uncertain of the intended meaning of a word. This article explains the differences in meaning between some technical terms used in economics and the corresponding terms in everyday usage.
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Credit rationing by definition is limiting the lenders of the supply of additional credit to borrowers who demand funds at a set quoted rate by the financial institution. [1] It is an example of market failure, as the price mechanism fails to bring about equilibrium in the market.