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A Robinson Crusoe economy is a simple framework used to study some fundamental issues in economics. [1] It assumes an economy with one consumer, one producer and two goods. The title "Robinson Crusoe" is a reference to the 1719 novel of the same name authored by Daniel Defo
Except for the case of zero-recoil, the counter-recoil force is smaller than the recoil force but lasts for a longer time. Since the recoil force and the counter-recoil force are not matched, the gun will move rearward, slowing down until it comes to rest. In the zero-recoil case, the two forces are matched and the gun will not move when fired.
Free recoil / Frecoil is a vernacular term or jargon for recoil energy of a firearm not supported from behind. Free recoil denotes the translational kinetic energy ( E t ) imparted to the shooter of a small arm when discharged and is expressed in joules (J), or foot-pound force (ft·lb f ) for non-SI units of measure.
In econometrics, the equations of a structural form model are estimated in their theoretically given form, while an alternative approach to estimation is to first solve the theoretical equations for the endogenous variables to obtain reduced form equations, and then to estimate the reduced form equations.
Economic events are considered as processes of creation, motion and distribution of value that is firstly measured as exchange value.The factor interpretation of the exchange value, accepted by Econodynamics, is based on the Smith-Marx's labour theory of value, according to which efforts of workers are the most essential production factor.
Wire-grid Cobb–Douglas production surface with isoquants A two-input Cobb–Douglas production function with isoquants. In economics and econometrics, the Cobb–Douglas production function is a particular functional form of the production function, widely used to represent the technological relationship between the amounts of two or more inputs (particularly physical capital and labor) and ...
The AK model of economic growth is an endogenous growth model used in the theory of economic growth, a subfield of modern macroeconomics.In the 1980s it became progressively clearer that the standard neoclassical exogenous growth models were theoretically unsatisfactory as tools to explore long run growth, as these models predicted economies without technological change and thus they would ...
Thermoeconomics, also referred to as biophysical economics, is a school of heterodox economics that applies the laws of statistical mechanics to economic theory. [1] Thermoeconomics can be thought of as the statistical physics of economic value [ 2 ] and is a subfield of econophysics .