Search results
Results From The WOW.Com Content Network
The economics of defense or defense economics is a subfield of economics, an application of the economic theory to the issues of military defense. [1] It is a relatively new field. An early specialized work in the field is the RAND Corporation report The Economics of Defense in the Nuclear Age by Charles J. Hitch and Roland McKean ( [2] 1960 ...
The model was first presented by Oliver Williamson in his 1968 paper "Economies as an Antitrust Defense: The welfare tradeoffs" in the American Economic Review. [2] Williamson argued that ignoring efficiencies that may result from proposed mergers in antitrust law "fail[ed] to meet the basic test of economic rationality".
The production possibilities frontier (PPF) for guns versus butter. Points like X that are outside the PPF are impossible to achieve. Points such as B, C, and D illustrate the trade-off between guns and butter: at these levels of production, producing more of one requires producing less of the other.
[1] Since the 1960s, the military spending was followed in Western countries by a large debate on the conversion from military to civilian industrial and technological activities. Two decades later, the issue on what was the existing hierarchy between the military and civilian R&D, was widely overcome by the concept of “dual-use ...
The national plan was broken down by various ministries, which in turn used the plan to formulate directives for local economic units which implemented them. The system used material balance planning. Economic information, including consumer demand and enterprise resource requirements, were aggregated to balance supply from the available ...
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 ...
A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, ...
[1] [2] The level of centralization or decentralization in decision-making and participation depends on the specific type of planning mechanism employed. [ 3 ] Socialist states based on the Soviet model have used central planning, although a minority such as the former Socialist Federal Republic of Yugoslavia have adopted some degree of market ...