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The radiotelephony message PAN-PAN is the international standard urgency signal that someone aboard a boat, ship, aircraft, or other vehicle uses to declare that they need help and that the situation is urgent, [1] [2] [3] but for the time being, does not pose an immediate danger to anyone's life or to the vessel itself. [4]
1-a, 1-b: Shallow water 2-a, 2-b: Side wall 3. Inclined seafloor 4. Ship approach. The bank effect (channel effect, bank suction, bank cushion, stern suction, ship-bank interaction) is the tendency of the stern of a ship to swing toward the near bank when operating in a river or constricted waterway. [1]
Although the period from 1837 to 1864 in the US is often referred to as the Free Banking Era, the term is a misnomer in terms of the definition of "free banking" above. Free Banking in the United States before the Civil War refers to various state banking systems based on what were called "free banking" laws at the time. These laws made it ...
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 ...
Monetary economics is the branch of economics that studies the different theories of money: it provides a framework for analyzing money and considers its functions ( as medium of exchange, store of value, and unit of account), and it considers how money can gain acceptance purely because of its convenience as a public good. [1]
The title of this work means "household management" and is derived from the Greek word, οἶκος, oikos, meaning "house/household". The term includes household finance as it is commonly known today and also defines the roles members of the household should have. In a broad sense the household is the beginning to economics as a whole.
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The Theory of Money and Credit is a 1912 economics book written by Ludwig von Mises, originally published in German as Theorie des Geldes und der Umlaufsmittel. In it Mises expounds on his theory of the origins of money through his regression theorem , which is based on logical argumentation.