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2. Thematic programmes benefiting all developing countries (including those covered by the European Development Fund 3. Programmes of accompanying measures for the 18 ACP Sugar Protocol countries, to help them adjust and following the reform of the EU sugar regime. The Development Cooperation Instrument is currently the second-largest financial ...
Decompression Illness (DCI) comprises two different conditions caused by rapid decompression of the body. These conditions present similar symptoms and require the same initial first aid. Scuba divers are trained to ascend slowly from depth to avoid DCI. Although the incidence is relatively rare, the consequences can be serious and potentially ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Consumer sovereignty in production is the controlling power of consumers, versus the holders of scarce resources, in what final products should be produced from these resources. It is sometimes used as a hypothesis that the production of goods and services is determined by the consumers' demand (rather than, say, by capital owners or producers).
Neuroeconomics. Neuroeconomics is an interdisciplinary field that seeks to explain human decision-making, the ability to process multiple alternatives and to follow through on a plan of action. It studies how economic behavior can shape our understanding of the brain, and how neuroscientific discoveries can guide models of economics.
In constrained optimization in economics, the shadow price is the change, per infinitesimal unit of the constraint, in the optimal value of the objective function of an optimization problem obtained by relaxing the constraint. If the objective function is utility, it is the marginal utility of relaxing the constraint.
Schramm's model of communication includes a feedback loop and the processes of encoding, decoding, and interpretation. Schramm's model of communication is an early and influential model of communication. It was first published by Wilbur Schramm in 1954 and includes innovations over previous models, such as the inclusion of a feedback loop and ...
e. Experimental economics is the application of experimental methods [1] to study economic questions. Data collected in experiments are used to estimate effect size, test the validity of economic theories, and illuminate market mechanisms. Economic experiments usually use cash to motivate subjects, in order to mimic real-world incentives.