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Contract theory Specifically, the principal can give the realized output to the agent, but let the agent make a fixed up-front payment. The agent is then a "residual claimant" and will maximize the expected total surplus minus the fixed payment. Hence, the first-best effort level maximizes the agent's payoff, and the f... | https://en.wikipedia.org/wiki?curid=296775 |
Contract theory Moreover, contract-theoretic models with hidden actions have been directly tested in laboratory experiments. In adverse selection models, the principal is not informed about a certain characteristic of the agent at the time the contract is written. The characteristic is called the agent's "type". For ex... | https://en.wikipedia.org/wiki?curid=296775 |
Contract theory Adverse selection theory has been pioneered by Roger Myerson, Eric Maskin, and others in the 1980s. More recently, adverse selection theory has been tested in laboratory experiments and in the field. Adverse selection theory has been expanded in several directions, e.g. by endogenizing the information s... | https://en.wikipedia.org/wiki?curid=296775 |
Monetary economics is the branch of economics that studies the different competing theories of money: it provides a framework for analyzing money and considers its functions (such as medium of exchange, store of value and unit of account), and it considers how money, for example fiat currency, can gain acceptance purel... | https://en.wikipedia.org/wiki?curid=297000 |
Monetary economics Innovations introduced by Muslim economists, traders and merchants include the earliest uses of credit, cheques, promissory notes, savings accounts, transactional accounts, loaning, trusts, exchange rates, the transfer of credit and debt, and banking institutions for loans and deposits. In the Indian... | https://en.wikipedia.org/wiki?curid=297000 |
Monetary economics Until the middle of the 20th century, Tibet's official currency was also known as the Tibetan rupee. Serious interest in the concepts behind money occurred during the dramatic period of inflation in the late 15th to early 17th centuries known as the Price Revolution, during which the value of gold fe... | https://en.wikipedia.org/wiki?curid=297000 |
Monetary economics It was printed twenty-five years before Adam Smith's more famous book, "The Wealth of Nations", which touched on some of the same topics. "Della Moneta" covered many modern monetary concepts, including the value, origin, and regulation of money. It carefully examined the possible causes for money's v... | https://en.wikipedia.org/wiki?curid=297000 |
Low-end market In the USA, as well as in most developed countries, the low-end market consists of lower-priced products suitable for customers who are not willing or able to spend large amounts of money. Many well known companies, such as Wal-Mart or British supermarket Asda, sell low-end versions of a given product ap... | https://en.wikipedia.org/wiki?curid=297055 |
Pulp and paper industry in Japan Japan is the third country in the world in production of paper (2011 figures). The leading Japanese company in the field (2015) is Oji Paper, with three other Japanese companiesSumitomo Forestry, Nippon Paper Group, and Unicharmalso in the world top 20. | https://en.wikipedia.org/wiki?curid=298050 |
Ecological footprint The ecological footprint measures human demand on nature, i.e., the quantity of nature it takes to support people or an economy. It tracks this demand through an ecological accounting system. The accounts contrast the biologically productive area people use for their consumption to the biologically... | https://en.wikipedia.org/wiki?curid=301500 |
Ecological footprint Also, a recent study by the Swiss Ministry of Environment independently recalculated the Swiss trends and reproduced them within 1–4% for the time period that they studied (1996–2015). Global Footprint Network estimates that, as of 2014, humanity has been using natural capital 1.7 times as fast as ... | https://en.wikipedia.org/wiki?curid=301500 |
Ecological footprint The ecological footprint accounting method at the national level is described on the web page of Global Footprint Network or in greater detail in academic papers, including Borucke et al. The National Accounts Review Committee has also published a research agenda on how to improve the accounts. The... | https://en.wikipedia.org/wiki?curid=301500 |
Ecological footprint This resource accounting is similar to life-cycle analysis wherein the consumption of energy, biomass (food, fiber), building material, water and other resources are converted into a normalized measure of land area called global hectares (gha). The focus of Ecological Footprint accounting is biolog... | https://en.wikipedia.org/wiki?curid=301500 |
Ecological footprint The footprint can also be a useful tool to educate people about carrying capacity and overconsumption, with the aim of altering personal behavior. Ecological footprints may be used to argue that many current lifestyles are not sustainable. Such a global comparison also clearly shows the inequalitie... | https://en.wikipedia.org/wiki?curid=301500 |
Ecological footprint 8 global hectares per person. The carbon footprint is the fastest growing part of the ecological footprint and accounts currently for about 60% of humanity's total ecological footprint. The Earth's biocapacity has not increased at the same rate as the ecological footprint. The increase of biocapaci... | https://en.wikipedia.org/wiki?curid=301500 |
Ecological footprint 20 gha due to on-site renewable energy production, energy-efficient architecture, and an extensive green lifestyles program that included on-site London's first carsharing club. The report did not measure the added footprint of the 15,000 visitors who have toured BedZED since its completion in 2002... | https://en.wikipedia.org/wiki?curid=301500 |
Ecological footprint The 2017 World Scientists' Warning to Humanity: A Second Notice, co-signed by over 15,000 scientists around the globe, urges human beings to "re-examine and change our individual behaviors, including limiting our own reproduction (ideally to replacement level at most) and drastically diminishing ou... | https://en.wikipedia.org/wiki?curid=301500 |
Ecological footprint An additional strand of critique is due to Giampietro and Saltelli (2014a), with a reply from Goldfinger et al., 2014, a rejoinder by Giampietro and Saltelli (2014a), and additional comments from van den Bergh and Grazi (2015). A number of countries have engaged in research collaborations to test t... | https://en.wikipedia.org/wiki?curid=301500 |
Ecological footprint Critics argue that this is a dubious characterization since mechanized rural farmers in developed nations may easily consume more resources than urban inhabitants, due to transportation requirements and the unavailability of economies of scale. Furthermore, such moral conclusions seem to be an argu... | https://en.wikipedia.org/wiki?curid=301500 |
Ecological footprint Although the ecological footprint model prior to 2008 treated nuclear power in the same manner as coal power, the actual real world effects of the two are radically different. A life cycle analysis centered on the Swedish Forsmark Nuclear Power Plant estimated carbon dioxide emissions at 3.10 g/kW⋅... | https://en.wikipedia.org/wiki?curid=301500 |
Ecological footprint A 2004 article from the BBC states: "The World Health Organization (WHO) says 3 million people are killed worldwide by outdoor air pollution annually from vehicles and industrial emissions, and 1.6 million indoors through using solid fuel." In the U.S. alone, fossil fuel waste kills 20,000 people e... | https://en.wikipedia.org/wiki?curid=301500 |
Ecological footprint The GHG footprint or the more narrow carbon footprint are a component of the ecological footprint. Often, when only the carbon footprint is reported, it is expressed in weight of CO2 (or CO2e representing GHG warming potential (GGWP)), but it can also be expressed in land areas like ecological foot... | https://en.wikipedia.org/wiki?curid=301500 |
Capital gain A capital gain refers to profit that results from a sale of a capital asset, such as stock, bond or real estate, where the sale price exceeds the purchase price. The gain is the difference between a higher selling price and a lower purchase price. Conversely, a capital loss arises if the proceeds from the ... | https://en.wikipedia.org/wiki?curid=301870 |
Iron law of wages The iron law of wages is a proposed law of economics that asserts that real wages always tend, in the long run, toward the minimum wage necessary to sustain the life of the worker. The theory was first named by Ferdinand Lassalle in the mid-nineteenth century. Karl Marx and Friedrich Engels attribute ... | https://en.wikipedia.org/wiki?curid=303067 |
Iron law of wages This follows from Malthus' demographic theory, according to which population rises when wages are above the "subsistence wage" and falls when wages are below subsistence. Assuming the demand for labor to be a given monotonically decreasing function of the real wage rate, the theory then predicted that... | https://en.wikipedia.org/wiki?curid=303067 |
Iron law of wages Even in countries which still have rapidly expanding populations, the need for skilled labor in certain occupations causes some wages to rise much faster than in others. To answer the question of why wages might fall towards a subsistence level, Ricardo put forth the law of rent. Ricardo and Malthus d... | https://en.wikipedia.org/wiki?curid=303067 |
Iron law of wages However, Ricardo believed that the market price of labor or the actual wages paid could exceed the natural wage level indefinitely due to countervailing economic tendencies: Ricardo also claimed that the natural wage was not necessarily what was needed to physically sustain the laborer, but could be m... | https://en.wikipedia.org/wiki?curid=303067 |
Iron law of wages Marx also noted that the foundation of what he called "modern political economy" needs, for the theory of value, only for wages to be a given magnitude. He did so in praising the Physiocrats. | https://en.wikipedia.org/wiki?curid=303067 |
Unsafe at Any Speed Unsafe at Any Speed: The Designed-In Dangers of the American Automobile is a landmark nonfiction book by consumer advocate Ralph Nader, first published in 1965. Its central theme charged car manufacturers of resistance to the introduction of safety features (such as seat belts), and their general re... | https://en.wikipedia.org/wiki?curid=309514 |
Unsafe at Any Speed The Corvair relied on an unusually high front to rear pressure differential (15psi front, 26psi rear, when cold; 18 psi and 30psi hot), and if one inflated the tires equally, as was standard practice for all other cars at the time, the result was a dangerous oversteer. Despite the fact that proper t... | https://en.wikipedia.org/wiki?curid=309514 |
Unsafe at Any Speed A 1972 safety commission report conducted by Texas A&M University concluded that the 1960–1963 Corvair possessed no greater potential for loss of control than its contemporary competitors in extreme situations. The U.S. Department of Transportation (DOT) issued a press release in 1972 describing the... | https://en.wikipedia.org/wiki?curid=309514 |
Unsafe at Any Speed " Chapter 2 levels criticism on auto design elements such as instrument panels and dashboards that were often brightly finished with chrome and glossy enamels which could reflect sunlight or the headlights of oncoming motor vehicles into the driver's eyes. This problem, according to Nader, was well ... | https://en.wikipedia.org/wiki?curid=309514 |
Unsafe at Any Speed Ford was the first to use the "P R N D L" pattern, which separated Reverse from forward ranges by Neutral. Eventually this pattern became the standard for all automatic-shift cars. Chevrolet's Powerglide, at least as seen on the Corvair, used a "R N D L" pattern, which separated the Reverse from the... | https://en.wikipedia.org/wiki?curid=309514 |
Unsafe at Any Speed Chapter 5 is about Detroit automotive engineers' general unwillingness to focus on road-safety improvements for fear of alienating the buyer or making cars too expensive. Nader counters by pointing out that, at the time, annual (and unnecessary) styling changes added, on average, about $700 to the c... | https://en.wikipedia.org/wiki?curid=309514 |
Unsafe at Any Speed As late as 1965, he noted that 320 million federal dollars were allocated to highway beautification, while just $500,000 was dedicated to highway safety. Chapter 8, the concluding chapter, suggests that the automotive industry should be forced by government to pay greater attention to safety in the ... | https://en.wikipedia.org/wiki?curid=309514 |
Unsafe at Any Speed It "(1) conducted a series of interviews with acquaintances of the plaintiff, 'questioning them about, and casting aspersions upon [his] political, social, racial and religious views; his integrity; his sexual proclivities and inclinations; and his personal habits'; (2) kept him under surveillance i... | https://en.wikipedia.org/wiki?curid=309514 |
Unsafe at Any Speed Department of Transportation issued a press release dated August 12, 1972, setting out the findings of 1971 NHTSA testing—after the Corvair had been out of production for more than three years. The National Highway Traffic Safety Administration (NHTSA) had conducted a series of comparative tests in ... | https://en.wikipedia.org/wiki?curid=309514 |
Unsafe at Any Speed " Economist Thomas Sowell contended that Nader was dismissive of the trade-off between safety and affordability. According to Sowell, Nader also did not mention that motor vehicle death rates per 100 million passenger miles fell over the years from 17.9 in 1925 to 5.5 in 1965. Journalist David E. Da... | https://en.wikipedia.org/wiki?curid=309514 |
Credit default option In finance, a default option, credit default swaption or credit default option is an option to buy protection (payer option) or sell protection (receiver option) as a credit default swap on a specific reference credit with a specific maturity. The option is usually European, exercisable only at on... | https://en.wikipedia.org/wiki?curid=310010 |
Heavily indebted poor countries The heavily indebted poor countries (HIPC) are a group of 39 developing countries with high levels of poverty and debt overhang which are eligible for special assistance from the International Monetary Fund (IMF) and the World Bank. The HIPC Initiative was initiated by the International ... | https://en.wikipedia.org/wiki?curid=313532 |
Heavily indebted poor countries At HIPC's inception in 1996, the primary threshold requirement was that the country's debt remains at unsustainable levels despite full application of traditional, bilateral debt relief. At the time, HIPC considered debt unsustainable when the ratio of debt-to-exports exceeded 200-250% o... | https://en.wikipedia.org/wiki?curid=313532 |
Heavily indebted poor countries Third, the IMF and the World Bank did not cancel any debt until the completion point, leaving countries under the burden of their debt payments while they struggled to institute structural reforms. Fourth, the ESAF conditions often undermined poverty-reduction efforts. For example, priva... | https://en.wikipedia.org/wiki?curid=313532 |
Heavily indebted poor countries First, as before, a country must show its debt is unsustainable; however, the targets for determining sustainability decreased to a debt-to-export ratio of 150% and a debt-to-government-revenues ratio of 250%. Second, the country must be sufficiently poor to qualify for loans from the Wo... | https://en.wikipedia.org/wiki?curid=313532 |
Heavily indebted poor countries PRSPs describe the macroeconomic, structural, and social programs that a country will follow to promote economic growth and reduce poverty. A broad range of government, NGO, and civil-society groups must participate in the development of the PRSP to ensure the plan has local support. Und... | https://en.wikipedia.org/wiki?curid=313532 |
Heavily indebted poor countries So far, the IMF and World Bank have approved $35 billion of HIPC debt relief. Five countries have received an additional $1.6 billion in "topping up" assistance since 2001. | https://en.wikipedia.org/wiki?curid=313532 |
The Uneasy Case for Copyright "The Uneasy Case for Copyright: A Study of Copyright in Books, Photocopies, and Computer Programs" was an article in the "Harvard Law Review" by future United States Supreme Court Justice Stephen Breyer in 1970, while he was still a legal academic. The article was a challenge to copyright ... | https://en.wikipedia.org/wiki?curid=313850 |
Subjective theory of value The subjective theory of value is a theory of value which advances the idea that the value of a good is not determined by any inherent property of the good, nor by the amount of labor necessary to produce the good, but instead value is determined by the importance an acting individual places ... | https://en.wikipedia.org/wiki?curid=316058 |
Subjective theory of value They will initially prioritise obtaining the goods they most need, such as sufficient food, but once their need for food is satisfied up to a certain level, their desire for other goods will start to assume more relative importance, and they will seek to bring satisfaction of their need for f... | https://en.wikipedia.org/wiki?curid=316058 |
Subjective theory of value This paradox, also referred to descriptively as the diamond-water paradox, arose when value was attributed to things such as the amount of labor that went into the production of a good or alternatively to an objective measure of the usefulness of a good. The theory that it was the amount of l... | https://en.wikipedia.org/wiki?curid=316058 |
Fourth World The is an extension of the three-world model, used variably to refer to The term is not commonly accepted. "Fourth World" has also been used to refer to other parts of the world in relation to the three-world model. "Fourth World" follows the First World, Second World, and Third World classification of nat... | https://en.wikipedia.org/wiki?curid=316656 |
Fourth World Since 1979, think tanks such as the Center for World Indigenous Studies have used the term in defining the relationships between ancient, tribal, and non-industrial nations and modern industrialised nation-states. With the 2007 UN Declaration on the Rights of Indigenous Peoples, communications and organizi... | https://en.wikipedia.org/wiki?curid=316656 |
Cooling pond A cooling pond is a man-made body of water primarily formed for the purpose of storing heated water and/or supplying cooling water to a nearby power plant or industrial facility such as a petroleum refinery, pulp and paper mill, chemical plant, steel mill or smelter. Cooling ponds are used where sufficient... | https://en.wikipedia.org/wiki?curid=317844 |
Factor price In economic theory, a factor price is the unit cost of using a factor of production, such as labor or physical capital. There has been much debate as to what determines factor prices. Classical and Marxist economists argue that factor prices decided the value of a product and therefore the value is intrins... | https://en.wikipedia.org/wiki?curid=320454 |
Long firm fraud A long firm fraud (also known as a "consumer credit fraud") is a crime that uses a trading company set up for fraudulent purposes; the basic operation is to run the company as an apparently legitimate business by buying goods and paying suppliers promptly to secure a good credit record. Once they are su... | https://en.wikipedia.org/wiki?curid=321050 |
Economic data or economic statistics are data (quantitative measures) describing an actual economy, past or present. These are typically found in time-series form, that is, covering more than one time period (say the monthly unemployment rate for the last five years) or in cross-sectional data in one time period (say f... | https://en.wikipedia.org/wiki?curid=322317 |
Economic data In these examples data may be stated in nominal or real values, that is, in money or inflation-adjusted terms. Other economic indicators include a variety of alternative measures of output, orders, trade, the labor force, confidence, prices, and financial series ("e.g.," money and interest rates). At the ... | https://en.wikipedia.org/wiki?curid=322317 |
Economic data Like epidemiology, economics often studies the behavior of humans over periods too long to allow completely controlled experiments, in which case economists can use observational studies or quasi-experiments; in these studies, economists collect data which are then analyzed with statistical methods (econo... | https://en.wikipedia.org/wiki?curid=322317 |
Economic data This cannot be done without economic data that is complete, accurate and timely. Increasingly, the availability of good economic data is coming to be seen by international markets as an indicator of a country that is a promising destination for foreign investment. International investors are aware that go... | https://en.wikipedia.org/wiki?curid=322317 |
Economic data Inside a country, the public availability of good quality economic data allows firms and individuals to make their business decisions with confidence that they understand the overall macroeconomic environment. As with international investors, local business people are less likely to overreact to a piece o... | https://en.wikipedia.org/wiki?curid=322317 |
Public works are a broad category of infrastructure projects, financed and constructed by the government, for recreational, employment, and health and safety uses in the greater community. They include public buildings (municipal buildings, schools, hospitals), transport infrastructure (roads, railroads, bridges, pipel... | https://en.wikipedia.org/wiki?curid=323158 |
Public works The terms public infrastructure or critical infrastructure are at times used interchangeably. However, critical infrastructure includes public works (dams, waste water systems, bridges, etc.) as well as facilities like hospitals, banks, and telecommunications systems and views them from a national security... | https://en.wikipedia.org/wiki?curid=323158 |
Public works One particular form of public works, that of offering a short-term period of employment, has come to dominate practice, particularly in regions such as Sub-Saharan Africa. Applied in the short term, this is appropriate as a response to transient shocks and acute labour market crises. Investing in public wo... | https://en.wikipedia.org/wiki?curid=323158 |
Public works However, in the private sector, entrepreneurs bear their own losses and so private-sector firms are generally unwilling to undertake projects that could result in losses or would not develop a revenue stream. Governments will invest in public works because of the overall benefit to society when there is a ... | https://en.wikipedia.org/wiki?curid=323158 |
Subsistence agriculture occurs when farmers grow food crops to meet the needs of themselves and their families. In subsistence agriculture, farm output is targeted to survival and is mostly for local requirements with little or no surplus. Planting decisions are made principally with an eye toward what the family will ... | https://en.wikipedia.org/wiki?curid=323964 |
Subsistence agriculture Subsistence horticulture may have developed independently in South East Asia and Papua New Guinea. had largely disappeared in Europe by the beginning of World War I, and in North America with the movement of sharecroppers and tenant farmers out of the American South and Midwest during the 1930s ... | https://en.wikipedia.org/wiki?curid=323964 |
Subsistence agriculture In this type of agriculture, a patch of forest land is cleared by a combination of felling and burning, and crops are grown. After 2–3 years the fertility of the soil begins to decline, the land is abandoned and the farmer moves to clear a fresh piece of land elsewhere in the forest as the proce... | https://en.wikipedia.org/wiki?curid=323964 |
Subsistence agriculture Such gardens near the homestead often regularly receive household refuse, and the manure of any household, chickens or goats are initially thrown into compost piles just to get them out of the way. However, such farmers often recognize the value of such compost and apply it regularly to their sm... | https://en.wikipedia.org/wiki?curid=323964 |
Subsistence agriculture Climate, with large number of days with sunshine and fertile soils permits growing of more than one crop annually on the same plot. Farmers use their small land holdings to produce enough, for their local consumption, while remaining produce is used for exchange against other goods. It results i... | https://en.wikipedia.org/wiki?curid=323964 |
Subsistence agriculture can be used in low-income countries as a part of policy responses to a food crisis in the short and medium term, and provide a safety net for the poor in these countries. | https://en.wikipedia.org/wiki?curid=323964 |
Cash crop A cash crop or profit crop is an agricultural crop which is grown to sell for profit. It is typically purchased by parties separate from a farm. The term is used to differentiate marketed crops from subsistence crops, which are those fed to the producer's own livestock or grown as food for the producer's fami... | https://en.wikipedia.org/wiki?curid=323990 |
Cash crop Many developing countries take the position that the current international trade system is unfair because it has caused tariffs to be lowered in industrial goods while allowing for low tariffs and agricultural subsidies for agricultural goods. This makes it difficult for a developing nation to export its good... | https://en.wikipedia.org/wiki?curid=323990 |
Cash crop In regions with a tropical climate, coffee, cocoa, sugar cane, bananas, oranges, cotton and jute (a soft, shiny vegetable fiber that can be spun into coarse, strong threads), are common cash crops. The oil palm is a tropical palm tree, and the fruit from it is used to make palm oil. Around 60 percent of Afric... | https://en.wikipedia.org/wiki?curid=323990 |
Cash crop The result of this is that the global price of such products is continually reduced until Africans are unable to compete in world markets, except in cash crops that do not grow easily in temperate climates. Africa has realized significant growth in biofuel plantations, many of which are on lands which were pu... | https://en.wikipedia.org/wiki?curid=323990 |
Cash crop According to the 1997 U.S. Census of Agriculture, 90% of the farms in the United States are still owned by families, with an additional 6% owned by a partnership. farmers have utilized precision agricultural technologies combined with time-tested practices to produce affordable food. Based upon United States ... | https://en.wikipedia.org/wiki?curid=323990 |
Cash crop These high level problems are in many cases threatening the future of agricultural sectors and theories start evolving on how to secure a sustainable future for agriculture. Sustainable market transformations are initiated in which industry leaders work together in a pre-competitive environment to change mark... | https://en.wikipedia.org/wiki?curid=323990 |
Cash crop 5 billion. | https://en.wikipedia.org/wiki?curid=323990 |
Community-based economics or community economics is an economic system that encourages local substitution. It is most similar to the lifeways of those practicing voluntary simplicity, including traditional Mennonite, Amish, and modern eco-village communities. It is also a subject in urban economics, related to moral pu... | https://en.wikipedia.org/wiki?curid=324063 |
Marginal cost In economics, marginal cost is the change in the total cost that arises when the quantity produced is incremented by one unit; that is, it is the cost of producing one more unit of a good. Intuitively, marginal cost at each level of production includes the cost of any additional inputs required to produce... | https://en.wikipedia.org/wiki?curid=325499 |
Marginal cost If the cost function formula_1 is continuous and differentiable, the marginal cost formula_2 is the first derivative of the cost function with respect to the output quantity formula_3: The marginal cost can be a function of quantity if the cost function is non-linear. If the cost function is not different... | https://en.wikipedia.org/wiki?curid=325499 |
Marginal cost For instance, suppose the total cost of making 1 shoe is $30 and the total cost of making 2 shoes is $40. The marginal cost of producing shoes decreases from $30 to $10 with the production of the second shoe ($40 – $30 = $10). is not the cost of producing the "next" or "last" unit. The cost of the last un... | https://en.wikipedia.org/wiki?curid=325499 |
Marginal cost ΔQ/ΔL, the marginal product of labor. The last equality holds because formula_11 is the change in quantity of labor that brings about a one-unit change in output. Since the wage rate is assumed constant, marginal cost and marginal product of labor have an inverse relationship—if the marginal product of la... | https://en.wikipedia.org/wiki?curid=325499 |
Marginal cost Production may be subject to economies of scale (or diseconomies of scale). Economies of scale are said to exist if an additional unit of output can be produced for less than the average of all previous units – that is, if long-run marginal cost is below long-run average cost, so the latter is falling. Co... | https://en.wikipedia.org/wiki?curid=325499 |
Marginal cost In perfectly competitive markets, firms decide the quantity to be produced based on marginal costs and sale price. If the sale price is higher than the marginal cost, then they produce the unit and supply it. If the marginal cost is higher than the price, it would not be profitable to produce it. So the p... | https://en.wikipedia.org/wiki?curid=325499 |
Marginal cost Any such change would have no effect on the shape of the SRVC curve and therefore its slope MC at any point. Of great importance in the theory of marginal cost is the distinction between the marginal "private" and "social" costs. The marginal private cost shows the cost borne by the firm in question. It i... | https://en.wikipedia.org/wiki?curid=325499 |
Marginal cost Much of the time, private and social costs do not diverge from one another, but at times social costs may be either greater or less than private costs. When the marginal social cost of production is greater than that of the private cost function, there is a negative externality of production. Productive p... | https://en.wikipedia.org/wiki?curid=325499 |
Marginal cost It is often seen that education is a positive for any whole society, as well as a positive for those directly involved in the market. Such production creates a social cost curve that is below the private cost curve. In an equilibrium state, markets creating positive externalities of production will underp... | https://en.wikipedia.org/wiki?curid=325499 |
Service economy can refer to one or both of two recent economic developments: The old dichotomy between product and service has been replaced by a service–product continuum. Many products are being transformed into services. For example, IBM treats its business as a service business. Although it still manufactures comp... | https://en.wikipedia.org/wiki?curid=327487 |
Service economy This is seen, especially in green economics and more specific theories within it such as Natural Capitalism, as having these benefits: Product stewardship or product take-back are words for a specific requirement or measure in which the service of waste disposal is included in the distribution chain of ... | https://en.wikipedia.org/wiki?curid=327487 |
Service economy This is quite common for instance among homeless people in U.S. cities. Legal requirements vary: the bottle itself may be considered the property of the purchaser of the contents, or, the purchaser may have some obligation to return the bottle to some depot so it can be recycled or re-used. In some coun... | https://en.wikipedia.org/wiki?curid=327487 |
Service economy " The ideal of product stewardship, as administered by the EPA in 2004, "taps the shared ingenuity and responsibility of businesses, consumers, governments, and others," the EPA states at a Web site. Services constitute over 50% of GDP in low income countries and as their economies continue to develop, ... | https://en.wikipedia.org/wiki?curid=327487 |
Service economy For example: The trend of servitization is very visible while looking at the growth of the service shares in the United States and European countries GDP than 20 years ago. Services are becoming an inseparable component of the product, as the supplier offers them jointly with the core to improve its per... | https://en.wikipedia.org/wiki?curid=327487 |
Service economy Also, the servitization levels the seasonality of the product and increases life cycles of the complex products, examples of which one can see in the aircraft industry, whereby companies stop focusing on the pure product delivery but start introducing maintenance and other aftermarket activities. Strate... | https://en.wikipedia.org/wiki?curid=327487 |
Service economy As services are provided on a long-term basis rather than one-time sale they offer more time to build the relationship with the customers and allow supplier to create the brand. Moreover, it enables the sales team to influence the purchasing decisions, by giving them opportunities to upsell additional p... | https://en.wikipedia.org/wiki?curid=327487 |
Service economy Servitization contracts are typically based on fixed-fee schemas with increasing level of risks: TEV analysis shall identify how the repositioning of such risks from customers to supplier creates value for the client and shall be used in pricing strategy | https://en.wikipedia.org/wiki?curid=327487 |
Autarchy may refer to: | https://en.wikipedia.org/wiki?curid=329720 |
OBERAC The acronym stands for: 'operating balance excluding revaluations and accounting changes'. The government of New Zealand uses as an indicator of current cash flow. The is not an accurate indicator of what the government has to spend, i.e. it is not the cash surplus. Instead, the includes capital expenditure, Sta... | https://en.wikipedia.org/wiki?curid=334756 |
Robert Reich Robert Bernard Reich (; born June 24, 1946) is an American economist, professor, author, and political commentator. He served in the administrations of Presidents Gerald Ford, Jimmy Carter, and Bill Clinton. He was Secretary of Labor from 1993 to 1997. He was a member of President Barack Obama's economic t... | https://en.wikipedia.org/wiki?curid=334763 |
Robert Reich He has published 18 books, including the best-sellers "The Work of Nations", "Reason", "Saving Capitalism", "Supercapitalism", "Aftershock: The Next Economy and America's Future", and a best-selling e-book, "Beyond Outrage". He is also chairman of Common Cause and writes his own blog about the political ec... | https://en.wikipedia.org/wiki?curid=334763 |
Robert Reich "summa cum laude" in 1968 and winning a Rhodes Scholarship to study Philosophy, Politics, and Economics at University College, Oxford. While at Dartmouth, Reich went on a date with Hillary Rodham, the future Hillary Clinton, then an undergraduate at Wellesley College. While a Rhodes Scholar at Oxford, Reic... | https://en.wikipedia.org/wiki?curid=334763 |
Robert Reich In "The Work of Nations", he argues that a nation's competitiveness depends on the education and skills of its people and the infrastructure that connects them, rather than on the profitability of companies headquartered within it. Private capital, he says, is increasingly global and footloose—while a nati... | https://en.wikipedia.org/wiki?curid=334763 |
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