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Alfred Marshall provided a still widely cited definition in his textbook Principles of Economics (1890) that extended analysis beyond wealth and from the societal to the microeconomic level: Economics is a study of man in the ordinary business of life. It enquires how he gets his income and how he uses it.
This economic miracle was the result of post-World War II Japan and West Germany benefitting from the Cold War.The American government reformed Japanese society during the occupation of Japan, making political, economic and civic changes.
In military strategy, a choke point (or chokepoint), or sometimes bottleneck, is a geographical feature on land such as a valley, defile or bridge, or maritime passage through a critical waterway such as a strait, which an armed force is forced to pass through in order to reach its objective, sometimes on a substantially narrowed front and ...
Export-oriented industrialization (EOI), sometimes called export substitution industrialization (ESI), export-led industrialization (ELI), or export-led growth, is a trade and economic policy aiming to speed up the industrialization process of a country by exporting goods for which the nation has a comparative advantage.
Elasticity is an important concept in neoclassical economic theory, and enables in the understanding of various economic concepts, such as the incidence of indirect taxation, marginal concepts relating to the theory of the firm, distribution of wealth, and different types of goods relating to the theory of consumer choice.
The CAGE Distance Framework identifies Cultural, Administrative, Geographic and Economic differences or distances between countries that companies should address when crafting international strategies. [1] It may also be used to understand patterns of trade, capital, information, and people flows. [2]
Point-to-point (top) vs hub-and-spoke (bottom) networks. The hub-and-spoke model, as compared to the point-to-point model, requires fewer routes. For a network of n nodes, only n − 1 routes are necessary to connect all nodes so the upper bound is n − 1, and the complexity is O(n).
Leapfrogging is a concept used in many domains of the economics and business fields, and was originally developed in the area of industrial organization and economic growth. The main idea behind the concept of leapfrogging is that small and incremental innovations lead a dominant firm to stay ahead.