Search results
Results From The WOW.Com Content Network
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 ...
Diagrams such as schematic diagrams and Gantt charts and tree maps display logical relationships between items, rather than geographic relationships. Topological in nature, only the connectivity is significant. The London Underground map and similar subway maps around the world are a common example of these maps.
Economic graphs are presented only in the first quadrant of the Cartesian plane when the variables conceptually can only take on non-negative values (such as the quantity of a product that is produced). Even though the axes refer to numerical variables, specific values are often not introduced if a conceptual point is being made that would ...
In economics, a Swan Diagram, also known as the Australian model (because it was originally published by Australian economist Trevor Swan [1] in 1956 to model the Australian economy during the Great Depression), represents the situation of a country with a currency peg. [2]
[c] [5] A travel atlas may also be referred to as a road map. [6] A desk atlas is made similar to a reference book. It may be in hardback or paperback form. There are atlases of the other planets (and their satellites) in the Solar System. [7] Atlases of anatomy exist, mapping out organs of the human body or other organisms. [8]
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 ...
According to economic historian A.K. Dutt, the AD–AS diagram first made its appearance in 1948 in a contribution by O.H. Brownlee to a textbook on applied economics. Also a textbook by Kenneth E. Boulding in the same year presented a diagram in output-price space, but unlike Brownlee's version without trying to solve the model; Boulding ...
Critical economic geography is an approach taken from the point of view of contemporary critical geography and its philosophy. Behavioral economic geography examines the cognitive processes underlying spatial reasoning, locational decision making, and behavior of firms [7] and individuals.