|
|
ABSOLUTE ADVANTAGE: The general ability to produced more goods using fewer resources. This idea of absolute advantage is important for trading that occurs between both people and nations. A nation can get an absolute advantage from an advanced level of technology or higher quality resources. For a person, an absolute advantage can result from natural abilities or the acquisition of human capital (education, training, or experience).
Visit the GLOSS*arama
|
|
|
|
|
PRINCIPLE A generally accepted, verified, proven, fundamental law of nature. A principle captures a cause-and-effect relation about the workings of the world that has been tested and verified through the scientific method. The law of demand, law of increasing opportunity cost, and law of diminishing marginal utility are three fundamental (and extremely important) economic principles.
Complete Entry | Visit the WEB*pedia |
|
|
BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a coffee cup commemorating the moon landing or a how-to book on surfing the Internet. Be on the lookout for defective microphones.
Your Complete Scope
This isn't me! What am I?
|
|
|
Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
|
|
|
"What we have done for ourselves alone dies with us; what we have done for others and the world remains and is immortal." -- Albert Pike
|
|
AP
Average Product
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
