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When you're wrong, you're wrong. But when you're right, you're extra-wrong. And if you're in between, it's still your fault. You just can't win. Suppose you're right on the facts in a content dispute, or right about Wikipedia policies and guidelines if it's a procedural issue or another editor is misbehaving. If you're so right, it's extra ...
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 ...
In any technical subject, words commonly used in everyday life acquire very specific technical meanings, and confusion can arise when someone is uncertain of the intended meaning of a word. This article explains the differences in meaning between some technical terms used in economics and the corresponding terms in everyday usage.
Key 6 (Long-term economy): Real per-capita economic growth during the term equals or exceeds mean growth during the previous two terms. Key 7 (Policy change): The incumbent administration affects ...
The anchoring bias, or focalism, is the tendency to rely too heavily—to "anchor"—on one trait or piece of information when making decisions (usually the first piece of information acquired on that subject).
Persuasive definition – purporting to use the "true" or "commonly accepted" meaning of a term while, in reality, using an uncommon or altered definition. (cf. the if-by-whiskey fallacy) Ecological fallacy – inferring about the nature of an entity based solely upon aggregate statistics collected for the group to which that entity belongs.
A combative and often rambling Donald Trump tripled down Tuesday on his proposals to hike tariffs on goods brought into the U.S. from other countries, again saying they would help the economy ...
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".