marginal supply
31production, theory of — ▪ economics Introduction in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it will produce, and how much of each kind of labour, raw… …
32Asia — /ay zheuh, ay sheuh/, n. a continent bounded by Europe and the Arctic, Pacific, and Indian oceans. 2,896,700,000; ab. 16,000,000 sq. mi. (41,440,000 sq. km). * * * I Largest continent on Earth. It is bounded by the Arctic Ocean, the Pacific Ocean …
33Classical theory of growth and stagnation — Classical economics refers to work done by a group of economists in the eighteenth and nineteenth centuries. The theories developed mainly focused on the way market economies functioned. Classical Economics study mainly concentrates on the… …
34United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… …
35Neoclassical economics — Economics …
36wage and salary — ▪ economics Introduction income derived from human labour. Technically, wages and salaries cover all compensation made to employees for either physical or mental work, but they do not represent the income of the self employed. Labour costs… …
37Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… …
38distribution theory — ▪ economics Introduction in economics, the systematic attempt to account for the sharing of the national income among the owners of the factors of production land, labour, and capital. Traditionally, economists have studied how the costs of …
39History of economic thought — The history of economic thought deals with different thinkers and theories in the field of political economy and economics from the ancient world to the present day. British philosopher Adam Smith is cited by many as the father of modern… …
40economic growth — Process by which a nation s wealth increases over time. The most widely used measure of economic growth is the real rate of growth in a country s total output of goods and services (gauged by the gross domestic product adjusted for inflation, or… …
