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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 ...
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 ...
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".
A kinetic bombardment or a kinetic orbital strike is the hypothetical act of attacking a planetary surface with an inert kinetic projectile from orbit (orbital bombardment), where the destructive power comes from the kinetic energy of the projectile impacting at very high speeds.
Ecological economics is an alternative to neoclassical economics. It integrates, among other things, the first and second laws of thermodynamics (see: Laws of thermodynamics) to formulate more realistic economic systems that adhere to fundamental physical limitations. In addition to the neoclassical focus on efficient allocation, ecological ...
Here are some of the energy-related executive orders Trump could announce during his first days in office, as he seeks to follow through on that promise. Trump could order the U.S. to withdraw ...
U.S. President Donald Trump's trade tariffs on Canadian and Mexican oil imports will offer European and Asian refineries a competitive advantage against their U.S. rivals, analysts and market ...
For every new rule, President Donald Trump plans to kill 10 old ones. That's the thrust of the president's latest executive order, signed Friday, called "Unleashing Prosperity Through Deregulation