baumol model
1William Baumol — William Jack Baumol (born February 26 1922) is a New York University economics professor (although he is also affiliated with Princeton University) who has written extensively about labor market and other economic factors that affect the economy …
2Economic model — A diagram of the IS/LM model In economics, a model is a theoretical construct that represents economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified… …
3Demand for money — The demand for money is the desired holding of financial assets in the form of money: that is, cash or bank deposits. It can refer to the demand for money narrowly defined as M1 (non interest bearing holdings), or for money in the broader sense… …
4economics — /ek euh nom iks, ee keuh /, n. 1. (used with a sing. v.) the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. 2. (used with a pl. v.) financial considerations;… …
5Natural monopoly — A monopoly describes a situation where all (or most) sales in a market are undertaken by a single firm. A natural monopoly by contrast is a condition on the cost technology of an industry whereby it is most efficient (involving the lowest long… …
6Theory of the firm — The theory of the firm consists of a number of economic theories that describe the nature of the firm, company, or corporation, including its existence, behavior, structure, and relationship to the market.[1] Contents 1 Overview 2 Background …
7Monetary economics — Economics …
8Pigovian tax — A Pigovian tax (also spelled Pigouvian tax) is a tax levied to correct the negative externalities of a market activity. Pigovian taxes are named after economist Arthur Pigou (1877 1959), who also developed the concept of economic externalities.… …
9Entrepreneurship — is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities. Entrepreneurship is often a difficult undertaking, as a vast majority of new… …
10Economics — This article is about the social science. For other uses, see Economics (disambiguation). For a topical guide to this subject, see Outline of economics. Economics …
