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In the United States, a recession is defined as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." [3] The European Union has adopted a similar definition.
Sustainability is a social goal for people to co-exist on Earth over a long time. Definitions of this term are disputed and have varied with literature, context, and time. [2] [1] Sustainability usually has three dimensions (or pillars): environmental, economic, and social. [1]
Sep 30, 2023 · Absolute advantage is the ability of a country, individual, company or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that same good ...
Implications. Studies of the implications of population aging fall into three major categories: political, economic, and social. Political demography studies often focus on the political power of various age groups and attempt to assess the degree to which intergenerational conflict is emerging as the sizes of age groups change and their demands on services like entitlements shift alongside.
The Chinese Communist Party ( CCP ), [3] officially the Communist Party of China ( CPC ), [4] is the founding and sole ruling party of the People's Republic of China (PRC). Under the leadership of Mao Zedong, the CCP emerged victorious in the Chinese Civil War against the Kuomintang. In 1949, Mao proclaimed the establishment of the People's ...
Central to Keynesian economics is an analysis of the determinants of effective demand. The Keynesian model of effective demand consists essentially of three spending streams: consumption expenditures, investment expenditures, and government expenditures, each of which is independently determined. (Foreign trade is ignored.)
A planned economy is a type of economic system where the distribution of goods and services or the investment, production and the allocation of capital goods takes place according to economic plans that are either economy-wide or limited to a category of goods and services. A planned economy may use centralized, decentralized, participatory or ...
