economic goods
121economic dualism — A way of conceptualizing the existence of two (sometimes more) separate but symbiotic sets of economic processes or markets within the same political or national social framework. In Third World societies, for example, a dual economy is formed by …
122Economic efficiency — A term that refers to the optimal production and consumption of goods and services. This generally occurs when prices of products and services reflect their marginal costs. Economic efficiency gains can be achieved through cost reduction, but… …
123economic batch quantity — A refinement of the economic order quantity to take into account circumstances in which the goods are produced in batches. The formula is: Q = [2cdr/h(r – d)]½, where Q is the quantity to be purchased or manufactured, c is the cost of processing… …
124economic batch quantity — A refinement of the economic order quantity to take into account circumstances in which the goods are produced in batches. The formula is: Q = [2cdr h(r d)]½, where Q is the quantity to be purchased or manufactured, c is the cost of processing an …
125economic potential — The total capacity of a nation to produce goods and services …
126economic freedom — noun The freedom to produce, trade and consume any goods and services acquired without the use of force, fraud or theft …
127Economic union — An agreement between two or more countries that allows the free movement of capital, labor, all goods and services, and involves the harmonization and unification of social, fiscal, and monetary policies. The New York Times Financial Glossary …
128economic union — An agreement between two or more countries that allows the free movement of capital, labor, and all goods and services, and involves the harmonization and unification of social, fiscal, and monetary policies ( monetary policy). Bloomberg… …
