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The economics term cost, also known as economic cost or opportunity cost, refers to the potential gain that is lost by foregoing one opportunity in order to take advantage of another. The lost potential gain is the cost of the opportunity that is accepted. Sometimes this cost is explicit: for example, if a firm pays $100 for a machine, its cost ...
Q1: The first quarter is during January, February and March. To be precise, this calendar quarter is from Jan. 1 through March 31. This is when the fiscal year starts unless otherwise indicated by ...
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 ...
This quarter system was adopted by the oldest universities in the English-speaking world (Oxford, founded circa 1096, [1] and Cambridge, founded circa 1209 [2]). Over time, Cambridge dropped Trinity Term and renamed Hilary Term to Lent Term, and Oxford also dropped the original Trinity Term and renamed Easter Term as Trinity Term, thus establishing the three-term academic "quarter" year widely ...
t. e. Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, government institutions, and private sector firms. There are numerous specific definitions of what ...
Academic quarter only applies to time given in full hours, and the academic quarter can be removed by saying that the time is "on the dot" by adding the word "dot" ("prick" in Swedish) or an actual ".". E.g. 10 dot is 10:00. The dot removes one academic quarter, so in the evening time "on the dot" is written "dot dot" to remove both quarters.
An economic system is a type of social system. The mode of production is a related concept. [2] All economic systems must confront and solve the four fundamental economic problems: What kinds and quantities of goods shall be produced: This fundamental economic problem is anchored on the theory of pricing.
Country foreign exchange reserves minus external debt. In international economics, the balance of payments (also known as balance of international payments and abbreviated BOP or BoP) of a country is the difference between all money flowing into the country in a particular period of time (e.g., a quarter or a year) and the outflow of money to the rest of the world.