demand-and-supply curves
91Consumer choice — Economics …
92Profit (economics) — In economics, the term profit has two related but distinct meanings. Normal profit represents the total opportunity costs (both explicit and implicit) of a venture to an entrepreneur or investor, whilst economic profit (also abnormal, pure,… …
93Non-convexity (economics) — In economics, non convexity refers to violations of the convexity assumptions of elementary economics. Basic economics textbooks concentrate on consumers with convex preferences (that do not prefer extremes to in between values) and convex budget …
94Marginal utility — In economics, the marginal utility of a good or service is the utility gained (or lost) from an increase (or decrease) in the consumption of that good or service. Economists sometimes speak of a law of diminishing marginal utility, meaning that… …
95Hubbert peak theory — Hubbert peak redirects here. For the episode of The West Wing, see The Hubbert Peak. M. King Hubbert s original 1956 prediction of world petroleum production rates …
96Consumer theory — is a theory of microeconomics that relates preferences to consumer demand curves. The link between personal preferences, consumption, and the demand curve is one of the most complex relations in economics. Implicitly, economists assume that… …
97Marginal cost — A typical marginal cost curve with marginal revenue overlaid In economics and finance, marginal cost is the change in total cost that arises when the quantity produced changes by one unit. That is, it is the cost of producing one more unit of a… …
98Steam locomotive — A steam locomotive is a locomotive powered by steam. The term usually refers to its use on railways, but can also refer to a road locomotive such as a traction engine or steamroller.Steam locomotives dominated rail traction from the mid 19th… …
99Austrian School — Part of a series on Libertarianism Austrian School …
100respiration, human — ▪ physiology Introduction the process by which oxygen is taken up and carbon dioxide discharged. The design of the respiratory system The human gas exchanging organ, the lung, is located in the thorax, where its delicate tissues are… …
