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River valley civilization. A river valley civilization is an agricultural nation or civilization situated beside and drawing sustenance from a river. A river gives the inhabitants a reliable source of water for drinking and agriculture. Some other possible benefits for the inhabitants are fishing, fertile soil due to annual flooding, and ease ...
The Akimel O'odham (O'odham for "river people"), also called the Pima, are an Indigenous people of the Americas living in the United States in central and southern Arizona and northwestern Mexico in the states of Sonora and Chihuahua. The majority population of the two current bands of the Akimel O'odham in the United States is based in two ...
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 common usage, "significant" usually means "noteworthy" or "of substantial importance". In econometrics —the use of statistical techniques in economics—"significant" means "unlikely to have occurred by chance". For example, suppose one wishes to find if the minimum wage rate affects firms' decisions on how much labor to hire.
However, the word Oikos, the Greek word from which the word economy derives, was used for issues regarding how to manage a household (which was understood to be the landowner, his family, and his slaves [42]) rather than to refer to some normative societal system of distribution of resources, which is a more recent phenomenon.
A river is a natural flow of freshwater that flows on or through land towards another body of water downhill. [1] This flow can be into a lake, an ocean, or another river. [1] A stream refers to water that flows in a natural channel, a geographic feature that can contain flowing water. [2]
Political Economy or Economics is a study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of well-being. Thus it is on the one side a study of wealth; and on the other, and more important side, a ...
v. t. e. An economy[a] is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. [3] A given economy is a set of processes ...