scarcity, abundance and sufficiency - GUPEA
... may be excluded from accessing. There is also water, land, medicine, energy, oil, jobs, capital, money, time, housing, clothing, knowledge, education, the Internet, roads, seats in a bus, mobile phones, candy, cakes and so on and so forth. Individuals want various things, from essential to non-essen ...
... may be excluded from accessing. There is also water, land, medicine, energy, oil, jobs, capital, money, time, housing, clothing, knowledge, education, the Internet, roads, seats in a bus, mobile phones, candy, cakes and so on and so forth. Individuals want various things, from essential to non-essen ...
The Problem of Excess - American Sociological Association
... conceiving an individual-level mechanism through which not individual excess but individual scarcity and competition will produce social abundance. The Mandevillian appetite for personal excess disappears in Smith, replaced by sober division of labor and seemly selflove. But the next step on this pa ...
... conceiving an individual-level mechanism through which not individual excess but individual scarcity and competition will produce social abundance. The Mandevillian appetite for personal excess disappears in Smith, replaced by sober division of labor and seemly selflove. But the next step on this pa ...
Some Simple Economics of Crowdfunding
... Executive Summary It is not surprising that the financing of early-stage creative projects and ventures is typically geographically localized since these types of funding decisions are usually predicated on personal relationships and due diligence requiring face-to-face interactions in response to h ...
... Executive Summary It is not surprising that the financing of early-stage creative projects and ventures is typically geographically localized since these types of funding decisions are usually predicated on personal relationships and due diligence requiring face-to-face interactions in response to h ...
Lecture 04: Risk Preferences and Risk Preferences and Expected
... • Define W(a ) = E{U (Y0 (1 + rf ) + a (~r − rf ))}. The FOC can then be written W′(a ) = E[U′(Y0 (1 + rf ) + a (~r − rf ))(~r − rf )] = 0 . By risk aversion (U''<0) (U''<0), W′′(a ) = E[U′′(Y0 (1 + rf ) + a (~r − rf ))(~r − rf )2 ] < 0, that is, W'(a) is everywhere decreasing. It follows that â wil ...
... • Define W(a ) = E{U (Y0 (1 + rf ) + a (~r − rf ))}. The FOC can then be written W′(a ) = E[U′(Y0 (1 + rf ) + a (~r − rf ))(~r − rf )] = 0 . By risk aversion (U''<0) (U''<0), W′′(a ) = E[U′′(Y0 (1 + rf ) + a (~r − rf ))(~r − rf )2 ] < 0, that is, W'(a) is everywhere decreasing. It follows that â wil ...
cost flow assumption
... Starbucks primarily uses a moving average cost flow assumption. Because it prices goods based on an average of the goods available for sale, this cost flow assumption produces amounts for ending inventory and cost of goods sold that fall between the reported amounts produced by the other cost flow a ...
... Starbucks primarily uses a moving average cost flow assumption. Because it prices goods based on an average of the goods available for sale, this cost flow assumption produces amounts for ending inventory and cost of goods sold that fall between the reported amounts produced by the other cost flow a ...
Microeconomics
Microeconomics (from Greek prefix mikro- meaning ""small"") is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources. Typically, it applies to markets where goods or services are bought and sold. Microeconomics examines how these decisions and behaviors affect the supply and demand for goods and services, which determines prices, and how prices, in turn, determine the quantity supplied and quantity demanded of goods and services.This is in contrast to macroeconomics, which involves the ""sum total of economic activity, dealing with the issues of growth, inflation, and unemployment."" Microeconomics also deals with the effects of national economic policies (such as changing taxation levels) on the aforementioned aspects of the economy. Particularly in the wake of the Lucas critique, much of modern macroeconomic theory has been built upon 'microfoundations'—i.e. based upon basic assumptions about micro-level behavior.One of the goals of microeconomics is to analyze market mechanisms that establish relative prices amongst goods and services and allocation of limited resources amongst many alternative uses. Microeconomics also analyzes market failure, where markets fail to produce efficient results, and describes the theoretical conditions needed for perfect competition. Significant fields of study in microeconomics include general equilibrium, markets under asymmetric information, choice under uncertainty and economic applications of game theory. Also considered is the elasticity of products within the market system.