Search results
Results From The WOW.Com Content Network
In common usage, "significant" usually means "noteworthy" or "of substantial importance". In econometrics —the use of statistical techniques in economics—"significant" means "unlikely to have occurred by chance". For example, suppose one wishes to find if the minimum wage rate affects firms' decisions on how much labor to hire.
Wealth. Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word weal, which is from an Indo-European word stem. [1] The modern concept of wealth is of significance in all areas of ...
v. t. e. Economics (/ ˌɛkəˈnɒmɪks, ˌiːkə -/) [ 1 ][ 2 ] is a social science that studies the production, distribution, and consumption of goods and services. [ 3 ][ 4 ] Economics focuses on the behaviour and interactions of economic agents and how economies work.
Economic growth is often seen as essential for economic prosperity, and indeed is one of the factors that is used as a measure of prosperity. The Rocky Mountain Institute, among others, has put forth an alternative point of view, that prosperity does not require growth, claiming instead that many of the problems facing communities are actually a result of growth, and that sustainable ...
Poster for a "rags to riches" ball. Rags to riches (also rags-to-riches) refers to any situation in which a person rises from poverty to wealth, and in some cases from absolute obscurity to heights of fame, fortune and celebrity —sometimes instantly. This is a common archetype in literature and popular culture, such as the writings of Horatio ...
Financial independence is a state where an individual or household has accumulated sufficient financial resources to cover its living expenses without having to depend on active employment or work to earn money in order to maintain its current lifestyle. [1] These financial resources can be in the form of investment or personal use assets ...
In a new exclusive interview with Yahoo Finance, Berkshire Hathaway CEO and investing legend Warren Buffett offered a definition for “true success.”
An example of the Matthew Effect's role on social influence is an experiment by Salganik, Dodds, and Watts in which they created an experimental virtual market named MUSICLAB. In MUSICLAB, people could listen to music and choose to download the songs they enjoyed the most. The song choices were unknown songs produced by unknown bands.