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The term cabinet projection (sometimes cabinet perspective) stems from its use in illustrations by the furniture industry. [ citation needed ] Like cavalier perspective, one face of the projected object is parallel to the viewing plane, and the third axis is projected as going off in an angle (typically 30° or 45° or arctan(2) = 63.4°).
Oblique projection is commonly used in technical drawing. The cavalier projection was used by French military artists in the 18th century to depict fortifications. Oblique projection was used almost universally by Chinese artists from the 1st or 2nd centuries to the 18th century, especially to depict rectilinear objects such as houses. [1]
Economic forecasting is the process of making predictions about the economy. Forecasts can be carried out at a high level of aggregation—for example for GDP , inflation , unemployment or the fiscal deficit —or at a more disaggregated level, for specific sectors of the economy or even specific firms.
The Fed’s dot plot is a chart updated quarterly that records each Fed official’s projection for the central bank’s key short-term interest rate, the federal funds rate. The dots reflect what ...
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 ...
Managerial economics aims to provide the tools and techniques to make informed decisions to maximize the profits and minimize the losses of a firm. [4] Managerial economics has use in many different business applications, although the most common focus areas are related to the risk, pricing, production and capital decisions a manager makes. [31]
Nowcasting in economics is the prediction of the very recent past, the present, and the very near future state of an economic indicator. The term is a portmanteau of "now" and "forecasting" and originates in meteorology.
In econometrics, as in statistics in general, it is presupposed that the quantities being analyzed can be treated as random variables.An econometric model then is a set of joint probability distributions to which the true joint probability distribution of the variables under study is supposed to belong.