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The result was that Germany found it increasingly difficult to maintain a balance of payments. A large trade deficit seemed almost inevitable, but Hitler found this prospect unacceptable. Thus Germany, following Italy's lead, began to move away from partially free trade in the direction of economic self-sufficiency.
Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.
Eugenics (/ j uː ˈ dʒ ɛ n ɪ k s / yoo-JEN-iks; from Ancient Greek εύ̃ (eû) 'good, well', and -γενής (genḗs) 'born, come into being, growing/grown') is a set of beliefs and practices that aim to improve the genetic quality of a human population.
The broadest definition includes handheld power tools, but in general usage the term implies very large motorized machines, particularly tractors and the many types of farm implements which they tow and/or supply power to. The mechanization of agricultural tasks is a defining element of industrial agriculture.
Product differentiation. In economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others to make it more attractive to a particular target market. This involves differentiating it from competitors ' products as well as from a firm's other products.
t. e. The theory of consumer choice is the branch of microeconomics that relates preferences to consumption expenditures and to consumer demand curves. It analyzes how consumers maximize the desirability of their consumption (as measured by their preferences subject to limitations on their expenditures), by maximizing utility subject to a ...
Substitution effect. In economics and particularly in consumer choice theory, the substitution effect is one component of the effect of a change in the price of a good upon the amount of that good demanded by a consumer, the other being the income effect . When a good's price increases, if hypothetically the same consumption bundle were to be ...
Production–possibility frontier. In microeconomics, a production–possibility frontier ( PPF ), production possibility curve ( PPC ), or production possibility boundary ( PPB) is a graphical representation showing all the possible options of output for two goods that can be produced using all factors of production, where the given resources ...