What Is a Price Ceiling? A price ceiling is the mandated maximum amount that a seller is permitted to charge for a product or service. Price ceilings are usually set by law and are typically applied to staples such as food and energy products when these goods become unaffordable to regular ...
The MRS is a term used in economics that refers to the amount of one good that is substitutable for another and is used to analyze consumer behaviors for a variety of purposes. MRS is calculated between two goods placed on anindifference curve, displaying a frontier of utility for each combi...
Institute for Finance, Banking and Insurance, Vienna University of Economics and Business, Vienna, Austria Christian Diem School of Economics, Universidad San Francisco de Quito, Quito, Ecuador Pablo Astudillo-Estévez Institute for New Economic Thinking, University of Oxford, Oxford, UK ...
Incentives in economics are factors that can alter the buying behavior of consumers. They can either be decisions by governments or businesses, such as tax relief when buying hybrid cars or changes dictated by the "invisible hand" of the market, like a rise in oil's price. Professor Steven ...
Justin Yifu Lin, dean of Peking University's Institute of New Structural Economics. [Photo/VCG] It is wrong to feel pessimistic about the impact of aging in China because economic growth can be driven not only by the expan...
What is productivity in economics? Profit: Profits describes the amount of money leftover in a business after it has paid all its expenses and serves as the major incentive for a business to start. Increased profits allow a business to reward their investors and keep their competitors at bay....
RQ:How has online grocery shopping behavior evolved since 2020 among the over-50 age group in Germany? And what factors influence the online grocery shopping behavior of the over-50s? The article proceeds with an overview of OGS in Germany and among over-50s in Sect.2, highlighting a researc...
this paper contributes to the literature in behavioural public economics31by examining the welfare effects of incentive payments—one of the most fundamental economic policy tools. Third, its welfare analysis of incentive-induced information biasing contributes to the literature on the positive test strate...
The neoclassical economics and the new economics of labor migration theory consider migration as a cost–benefit decision based on the maximization of individual utility [37]. Settlement intention can be affected by push factors at the origin and pull factors at the destination, that is, the ...
The purpose of this article is to present a research model that examines dependencies of how aspects of corporate social responsibility (CSR)—specifically, communication with stakeholders, knowledge management, and strategy—influence the building of a sustainable development model in enterprises. An inst...