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Index numbers are used especially to compare business activity, the cost of living, and employment. They enable economists to reduce unwieldy business data into easily understood terms. In contrast to a cost-of-living index based on the true but unknown utility function, a superlative index number is an index number that can be calculated. [1]
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 ...
Typical programming languages used in computational economics research include C++, MATLAB, Julia, Python, R and Stata. Among these programming languages, C++ as a compiled language performs the fastest, while Python as an interpreted language is the slowest. MATLAB, Julia, and R achieve a balance between performance and interpretability.
Planned economy#Command economy To a section : This is a redirect from a topic that does not have its own page to a section of a page on the subject. For redirects to embedded anchors on a page, use {{ R to anchor }} instead .
Let Us Beat Swords into Plowshares in the United Nations garden (1957). Economic conversion, defence conversion, or arms conversion, is a technical, economic and political process for moving from military to civilian markets.
Planned economies contrast with command economies in that a planned economy is "an economic system in which the government controls and regulates production, distribution, prices, etc." [39] whereas a command economy necessarily has substantial public ownership of industry while also having this type of regulation. [40]
The process used directives which were issued to lower-level organizations. Thus, the Soviet economic model was often referred to as a command economy or an administered economy as plan directives were enforced by inducements in a vertical power structure, with actual planning playing little functional role in the allocation of resources. Owing ...
In economics, an input–output model is a quantitative economic model that represents the interdependencies between different sectors of a national economy or different regional economies. [1] Wassily Leontief (1906–1999) is credited with developing this type of analysis and earned the Nobel Prize in Economics for his development of this model.