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a value, represented by the socially necessary labour time to produce it (Note: the first link is to a non-Marxian definition of value); a use value (or utility); an exchange value, which is the proportion at which a commodity can be exchanged for other entities; a price (an actual selling price, or an imputed ideal price).
For example, the value of the global illicit drug market for the year 2003 was estimated by the United Nations to be US$13 billion at the production level, $94 billion at the wholesale level (taking seizures into account) and US$322 billion at the retail level (based on retail prices and taking seizures and other losses into account).
In economics, supply refers to the strength of one or many producers' willingness to produce and sell a good or goods at any in a range of prices. If, for example, a reduction in production costs causes a producer to be willing to provide more of a good than before contingent on each possible price, economists say that the drop in production ...
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 ...
An entrepreneur is a person who sets up a business or multiple businesses (serial entrepreneur). Entrepreneurship may be defined as the creation or extraction of economic value. It is generally thought to embrace risks beyond what is normally encountered in starting a business. Its motivation can include other values than simply economic ones.
A pure exchange economy is the simplest form of exchange in the exchange economy. Assuming that each consumer has a certain amount of initial resources (endowment) that can be used for exchange, and every consumer has their own preferences. When the price is given or stable, the Pareto optimal allocation can be found. [3] [4]
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Entrepreneurial finance is the study of value and resource allocation, applied to new ventures.It addresses key questions which challenge all entrepreneurs: how much money can and should be raised; when should it be raised and from whom; what is a reasonable valuation of the startup; and how should funding contracts and exit decisions be structured.