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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 ...
Welfare economics is a branch of economics that uses microeconomic techniques to evaluate economic well-being, especially relative to competitive general equilibrium, with a focus on economic efficiency and income distribution. [13] In general usage, including by economists outside the above context, welfare refers to a form of transfer payment ...
A closely related approach, relational biology, is concerned mainly with understanding life processes in terms of the most important relations, and categories of such relations among the essential functional components of organisms; for multicellular organisms, this has been defined as "categorical biology", or a model representation of ...
A thesaurus (pl.: thesauri or thesauruses), sometimes called a synonym dictionary or dictionary of synonyms, is a reference work which arranges words by their meanings (or in simpler terms, a book where one can find different words with similar meanings to other words), [1] [2] sometimes as a hierarchy of broader and narrower terms, sometimes simply as lists of synonyms and antonyms.
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
In thermodynamics, the term exothermic process (exo- : "outside") describes a process or reaction that releases energy from the system to its surroundings, usually in the form of heat, but also in a form of light (e.g. a spark, flame, or flash), electricity (e.g. a battery), or sound (e.g. explosion heard when burning hydrogen).
Scientists have debated the definition of life for decades, but they still lack a consensus on the answer. Skip to main content. Lifestyle. 24/7 help. For premium support please call: ...
Process science is the method of describing change from an inquiry-oriented process perspective. [1] [2] [3] Process science includes algorithms, heuristics, and sequences found in psychology, linguistics, anthropology, politics, and economics. [4] In sociology, processes are temporal. [5] In computer science, a process is the collective input ...