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A white elephant at the Amarapura Palace in 1855. A white elephant is a possession that its owner cannot dispose of without extreme difficulty, and whose cost, particularly that of maintenance, is out of proportion to its usefulness. In modern usage, it is a metaphor used to describe an object, construction project, scheme, business venture ...
The start of the line, representing the bottom 10% of the population begins low on the y-axis and then steeply rises upward, representing the tail of the elephant. From there until the 50th percentile the line curves upward, representing the torso of the elephant. From 50% to 60% there is a sharp spike in the line, representing the elephant’s ...
A white elephant gift exchange, [1] Yankee swap [2] or Dirty Santa [3] [nb 1] is a party game where amusing and impractical gifts are exchanged during Christmas festivities. The goal of a white elephant gift exchange is to entertain party-goers rather than to give or acquire a genuinely valuable or highly sought-after item. [ 3 ]
The gift-exchange game, also commonly known as the gift exchange dilemma, is a common economic game introduced by George Akerlof and Janet Yellen to model reciprocacy in labor relations. [1] The gift-exchange game simulates a labor-management relationship execution problem in the principal-agent problem in labor economics. [ 2 ]
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 ...
White Elephant , an animal in the Persian epic poem the Shahnameh; White Elephant Butte, a mountain in Nevada, U.S. White elephant gift exchange, a holiday party game; White elephant sale, a sale of used items; Order of the White Elephant, a Thai honour; White Elephant Saloon, in the San Antonio Sporting District, Texas
That elephant statue has a deep symbolic meaning. The post If You See an Elephant Statue at a Front Door, This Is What It Means appeared first on Reader's Digest.
Elasticity is an important concept in neoclassical economic theory, and enables in the understanding of various economic concepts, such as the incidence of indirect taxation, marginal concepts relating to the theory of the firm, distribution of wealth, and different types of goods relating to the theory of consumer choice.