economic sufficiency definition
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What is 'Economic Efficiency' What is 'Economic Efficiency'. Economic efficiency implies an economic state in which every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency. When an economy is economically efficient, any changes made to assist one entity would harm another.
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economic (ˌiːkəˈnɒmɪk; ˌɛkə-) adj. 1. (Economics) of or relating to an economy, economics, or finance: economic development; economic theories. 2. (Commerce) Brit capable of being produced, operated, etc, for profit; profitable: the firm is barely economic. 3. (Economics) concerning or affecting material resources or welfare: economic pests.
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Translations for Economic stability Freebase(0.00 / 0 votes)Rate this definition: Economic stability. Economic stability refers to an absence of excessive fluctuations in the macroeconomy. An economy with fairly constant output growth and low and stable inflation would be considered economically stable.
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Economic securityupdate For financial securities such as stocks and bonds, see security (finance). Economic security or financial security is the condition of having stable income or other resources to support a standard of living now and in the foreseeable future. It includes: probable continued solvency.
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economic forces economic forces. Factors such as level of employment, rate of inflation, rate of interest, demographic changes, and fiscal and monetary policies, which determine the state of competitive environment in which a firm operates. These forces affect the outcome of the firm's marketing activities, by determining the volume and strength of demand for the its products.
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suffice suffice. ( 1 intransitive) To be enough or sufficient; to meet the need (of anything); to be equal to the end proposed; to be adequate. Two capsules of fish oil a day suffices. 2  To satisfy; to content; to be equal to the wants or demands of. A joint of lamb sufficed even his enormous appetite. 3  To furnish; to supply adequately.
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- Definitions for economic interdependence. Economic interdependence. Economic interdependence is a consequence of specialization, or the division of labor, and is almost universal. The participants in an economic system are dependent on others for the products they cannot produce efficiently for themselves.
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economic efficiency In other words, the situation where some people cannot be made better-off by reallocating the resources or goods, without making others worse-off. It indicates that a balance between benefit and loss has been achieved. Also called allocative efficiency. See also economic inefficiency and Pareto optimum.
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Economic partnership agreement An economic partnership agreement is an economic arrangement that eliminates barriers to the free movement of goods, services, and investment between countries. This agreement can be considered an intermediate step between free trade area and single market in the process of economic integration.n economic partnership agreement is an economic arrangement that eliminates barriers to the free movement of goods, services, and investment between countries. This agreement can be considered an intermediate step between free trade area and single market in the process of economic integration.
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What are 'Economic Conditions' DEFINITION of 'Economic Conditions'. The state of the economy in a country or region. Economic conditions change over time in line with the economic and business cycle, as an economy goes through expansion and contraction. Economic conditions are considered to be sound or positive when an economy is expanding, and are considered to be adverse or negative when an economy is contracting.
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Economic Definition of aggregate output. Defined. Economic Definition of aggregate output. Defined. Term aggregate output Definition: The macroeconomy's total production of final goods and services. You might recognized it by it's official term gross domestic product. Another related term is aggregate supply.
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economic economic. adj. 1. (Economics) of or relating to an economy, economics, or finance: economic development; economic theories. 2. (Commerce) Brit capable of being produced, operated, etc, for profit; profitable: the firm is barely economic.3. (Economics) concerning or affecting material resources or welfare: economic pests.. of or pertaining to the science of economics. 3. involving one's personal resources of money. 4. pertaining to use as a resource in the economy: economic botany. 5. apt to affect the welfare of material resources: weevils and other economic pests.
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- Self-sufficiency, by definition, is the ability to maintain oneself without dependency on others. Aristotle attempts to account for the good life's requiring favorable external circumstances by arguing that the good life is self-sufficient but not as we generally understand the definition of self-sufficiency.
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- Economic welfare is the total benefit available to society from an economic transaction or situation. Economic welfare is also called community surplus. Welfare is represented by the area ABE in the diagram below, which is made up of the area for consumer surplus, ABP plus the area for producer surplus, PBE. In market analysis economic welfare at equilibrium can be calculated by adding consumer and producer surplus.
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equilibrium equilibrium definition. In economics, a state of the economy in which for every commodity or service (including labor), total supply and demand are exactly equal. Equilibrium is never actually attained; it is approximated by movements of the market.
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What is Economic Security? What is Economic Security? The ICRC defines economic security as the ability of individuals, households or communities to cover their essential needs sustainably and with dignity. This can vary according to an individual's physical needs, the environment and prevailing cultural standards.
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Day 3 - Phase Shift and Vertical Shift In the previous lesson, students learned that amplitude and period make the graphs of sine and cosine functions get taller, shorter, stretched, and squeezed. All of these changes affected the SHAPE of a graph. In this lesson, students will examine how phase shift and vertical shift affect the LOCATION of a graph.
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- noun. 1  1An economic strategy based on the use of measures (e.g. blockade) of which the primary effect is to weaken the economy of another state. 2  2The use of such measures.
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economic 1. of or pertaining to the production, distribution, and use of income, wealth, and commodities. 2. of or pertaining to the science of economics. 3. involving one's personal resources of money. 4. pertaining to use as a resource in the economy: economic botany.
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What are Economic Resources? - Definition, Types & Examples An economy is a system of institutions and organizations that either help facilitate or are directly involved in the production and distribution of goods and services. Economic resources are the inputs we use to produce and distribute goods and services. The precise proportion of each factor of production will vary from product to product and from service to service, and the goal is to make the most effective use of the resources that maximizes output at the least possible cost.
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Economic System? An Economic System is a manner regarding how resources should be allocated to attain the maximum benefit for its participants. Free Market/Capitalist: + Goods/Services are set by supply/demand, assisting innovation by insuring profitable ideas are met with substantial investment.
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efficiency Definition. The comparison of what is actually produced or performed with what can be achieved with the same consumption of resources (money, time, labor, etc.). It is an important factor in determination of productivity. See also effectiveness.
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- {http://s3.amazonaws.com/engrade-myfiles/4062078742888268/concept_map_economic_systems.bmp}. Concept Map: Economic Systems. An economic system refers to the way in which the resources of a country are used to produce goods and services, and the manner in which these goods and services are distributed for consumption.Definition. Economic systems are characterised by the following: - role of government.eatures: - Economic decisions are taken by the price mechanism system and also by the state. - The private business sector operates along the lines of the free market economy, where the price mechanism determines allocation of resources.
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- DEFINITION of 'Economic Forecasting'. The process of attempting to predict the future condition of the economy. This involves the use of statistical models utilizing variables sometimes called indicators. Some of the most well-known economic indicators include inflation and interest rates, GDP growth/decline, retail sales and unemployment rates.
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Definitions &Translations Freebase (4.75 / 4 votes) Rate this definition: Economic security. Economic security or financial security is the condition of having stable income or other resources to support a standard of living now and in the foreseeable future.
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What are Economic Resources? - Definition, Types & Examples Economic resources are the inputs we use to produce and distribute goods and services. The precise proportion of each factor of production will vary from product to product and from service to service, and the goal is to make the most effective use of the resources that maximizes output at the least possible cost.