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Offer Curve
In economics and particularly in international trade, an offer curve shows the quantity of one type of product that an agent will export ("offer") for each quantity of another type of product that it imports. The offer curve was first derived by English economists Edgeworth and Marshall to help explain international trade. The offer curve is derived from the country's PPF. We describe a Country named K which enjoys both goods Y and X. It is slightly better at producing good X, but wants to consume both goods. It wants to consume at point C or higher (above the PPF). Country K starts in Autarky Autarky is the characteristic of self-sufficiency, usually applied to societies, communities, states, and their economic systems. Autarky as an ideal or method has been embraced by a wide range of political ideologies and movements, especially ... at point C. At point C, country K can produce (and consume) 3 Y for 5 X. As trade begins with another country, and country K begins to sp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PPF IC
PPF may refer to: Political and related organizations *The Participatory Politics Foundation a US non-profit organization * Parti Populaire Français, a French fascist party active before and during World War Two * Pirate Party (France), a former French political party *Progressive Policies Forum, a UK organization involved in a 2008 scandal over Peter Hain's campaign *Public Policy Forum, a Canadian think tank Financial topics * Pension Protection Fund, a UK body responsible for paying pension compensation * PPF (company), a financial group *Production–possibility frontier, a graph on the goods that an economy could efficiently produce with limited productive resources *Public Patent Foundation, a US non-profit organization *Public Provident Fund, a savings-cum-tax-saving instrument in India Scientific topics * Percent Point Function for the calculation of statistical quantiles. *Photosynthetic Photon Flux, see Photosynthetic photon flux density *Propofol, a drug used to induc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Offer Curve
In economics and particularly in international trade, an offer curve shows the quantity of one type of product that an agent will export ("offer") for each quantity of another type of product that it imports. The offer curve was first derived by English economists Edgeworth and Marshall to help explain international trade. The offer curve is derived from the country's PPF. We describe a Country named K which enjoys both goods Y and X. It is slightly better at producing good X, but wants to consume both goods. It wants to consume at point C or higher (above the PPF). Country K starts in Autarky Autarky is the characteristic of self-sufficiency, usually applied to societies, communities, states, and their economic systems. Autarky as an ideal or method has been embraced by a wide range of political ideologies and movements, especially ... at point C. At point C, country K can produce (and consume) 3 Y for 5 X. As trade begins with another country, and country K begins to sp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English People
The English people are an ethnic group and nation native to England, who speak the English language in England, English language, a West Germanic languages, West Germanic language, and share a common history and culture. The English identity is of History of Anglo-Saxon England, Anglo-Saxon origin, when they were known in Old English as the ('race or tribe of the Angles'). Their ethnonym is derived from the Angles, one of the Germanic peoples who migrated to Great Britain around the 5th century AD. The English largely descend from two main historical population groups the West Germanic tribes (the Angles, Saxons, Jutes and Frisians) who settled in southern Britain following the withdrawal of the Ancient Rome, Romans, and the Romano-British culture, partially Romanised Celtic Britons already living there.Martiniano, R., Caffell, A., Holst, M. et al. Genomic signals of migration and continuity in Britain before the Anglo-Saxons. Nat Commun 7, 10326 (2016). https://doi.org/10 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Francis Ysidro Edgeworth
Francis Ysidro Edgeworth (8 February 1845 – 13 February 1926) was an Anglo-Irish philosopher and political economist who made significant contributions to the methods of statistics during the 1880s. From 1891 onward, he was appointed the founding editor of ''The Economic Journal''. Life Ysidro Francis Edgeworth- the order of his forenames later reversed- was born in Edgeworthstown, County Longford, Ireland, son of Francis Beaufort Edgeworth and his wife, Rosa Florentina, daughter of Catalan general Antonio Eroles. Francis Beaufort Edgeworth, when "a restless philosophy student at Cambridge on his way to Germany", had met Rosa, a teenage Spanish refugee, on the steps of the British Museum, and they subsequently eloped. Francis Beaufort Edgeworth was son of the politician, writer, and inventor Richard Lovell Edgeworth (father also of the writer Maria Edgeworth), by his fourth wife, the botanical artist and memoirist Frances Anne, daughter of the Anglican clergyman and geog ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alfred Marshall
Alfred Marshall (26 July 1842 – 13 July 1924) was an English economist, and was one of the most influential economists of his time. His book '' Principles of Economics'' (1890) was the dominant economic textbook in England for many years. It brought the ideas of supply and demand, marginal utility, and costs of production into a coherent whole. He is known as one of the founders of neoclassical economics. Life and career Marshall was born at Bermondsey in London, second son of William Marshall (1812–1901), clerk and cashier at the Bank of England, and Rebecca (1817–1878), daughter of butcher Thomas Oliver, from whom, on her mother's death, she inherited property. William Marshall was a devout strict Evangelical, "author of an Evangelical epic in a sort of Anglo-Saxon language of his own invention which found some favour in its appropriate circles" and of a tract titled ''Men's Rights and Women's Duties''. Marshall had two brothers and two sisters; a cousin was the econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Production Possibilities Frontier
Production may refer to: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products (goods and services) * Production as a statistic, gross domestic product * Production line Arts, entertainment, and media Motion pictures * Production, film distributor of a company * Production, phase of filmmaking * Production, video production Other uses in arts, entertainment, and media * ''Production'' (album), by Mirwais, 2000 * Production, category of illusory magic trick * Production, phase of video games development * Production, Record producer's role * Production, theatrical performance Science and technology * Production, deployment environment where changes go "live" and users interact with it * Production (computer science), formal-grammar concept * Primary production, the production of new biomass by autotrophs in ecosystems * Productivity (ecology), the wider ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Autarky
Autarky is the characteristic of self-sufficiency, usually applied to societies, communities, states, and their economic systems. Autarky as an ideal or method has been embraced by a wide range of political ideologies and movements, especially left-wing ideologies like African socialism, mutualism, war communism, communalism, swadeshi, syndicalism (especially anarcho-syndicalism), and left-wing populism, generally in an effort to build alternative economic structures or to control resources against structures a particular movement views as hostile. Conservative, centrist and nationalist movements have also adopted autarky in an attempt to preserve part of an existing social order or to develop a particular industry. Proponents of autarky have argued for national self-sufficiency to reduce foreign economic, political and cultural influences, as well as to promote international peace. Economists are generally supportive of free trade. There is a broad consensus among economist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Line (mathematics)
In geometry, a line is an infinitely long object with no width, depth, or curvature. Thus, lines are one-dimensional objects, though they may exist in two, three, or higher dimension spaces. The word ''line'' may also refer to a line segment in everyday life, which has two points to denote its ends. Lines can be referred by two points that lay on it (e.g., \overleftrightarrow) or by a single letter (e.g., \ell). Euclid described a line as "breadthless length" which "lies evenly with respect to the points on itself"; he introduced several postulates as basic unprovable properties from which he constructed all of geometry, which is now called Euclidean geometry to avoid confusion with other geometries which have been introduced since the end of the 19th century (such as non-Euclidean, projective and affine geometry). In modern mathematics, given the multitude of geometries, the concept of a line is closely tied to the way the geometry is described. For instance, in analytic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Economics
International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries, including trade, investment and transaction. * International trade studies goods and services flows across international boundaries from supply-and-demand factors, economic integration, international factor movements, and policy variables such as tariff rates and trade quotas. * International finance studies the flow of capital across international financial markets, and the effects of these movements on exchange rates. * International monetary economics and international macroeconomics study flows of money across countries and the resulting effects on their economies as a whole. * International political economy, a sub-category of interna ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microeconomics
Microeconomics is a branch of mainstream economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the national economy as whole, which is studied in macroeconomics. One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses. Microeconomics shows conditions under which free markets lead to desirable allocations. It also analyzes market failure, where markets fail to produce efficient results. While microeconomics focuses on firms and individuals, macroeconomics focuses on the sum total of economic activity, dealing with the issues of growth, inflation, and unemployment and with national policies relating to these issues. Microeconomics also deal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
