In regards to economics, explain the term: economies of scale. Define the term 'economy'. Explain the meaning of the term substitution effect as used in economics. Write the definition of economics. What are the main elements of the definition?
Explain what is meant by the term "Market Economy" in Economics. What is meant by the term "Aggregate Demand" in Economics. Explain what is meant by the term "Keynesian economics." Explain the term political economy. How would you explain the economic problem of scarcity?
Briefly define the term, "Benefit Reduction rate (Also known as taxback and clawback rate)," and explain why it is important for social policy and/or social policy reform. Describe the effect of the differences in discount rate on differences in earnings and schooling. ...
This term is used when the top five firms in the market have more than 60% of the total market shares. An example of an oligopolistic market is the petrol market in the UK. There are a few assumptions, which are relatively high barriers to...
The long term transitions in diet and nutrition in China are analysed. Food consumption patterns for cereals, fruits, vegetables and meat are presented and... A Deaton,J Drèze 被引量: 712发表: 2009年 Economies of Scale, Household Size, and the Demand for Food In this paper, we demonstrate...
The paper develops a theoretical specification that integrates geographic scale economies into the Heckscher–Ohlin model, and develops a statistical method for detecting geographic scale economies in the distributional features of a disturbance term. The units of analysis are US states. The findings ...
The term at the denominator is used to normalize the result so that the sum of all feature importances is 1. For a random forest, the overall feature importance of any feature is given by the mean feature importance for that feature across all the trees \({\mathcal {T}}\). Once ...
While the regulation could benefit minority shareholders, there are reasons to question its effectiveness. Controlling shareholders who choose to pay dividends can still expropriate in other ways, harming a company’s long-term performance. And firms that opt to host conference calls may use the disc...
By greatly increasing the shelf life of packaged foods, pasteurization has proved itself to be one of the most important food-preservation technologies ever developed. Let's take a closer look at how it works!Photo: Economies of scale: This bottle of pasteurized milk came from my local dairy,...
In order to explain such a divergence between rich and poor countries, the early economists were obsessed with culture, a catch-all term encompassing a society’s beliefs, preferences and values. Adam Smith, the author of “The Wealth of Nations”, explored the ways in which culture helped or...