An essential product that forms the basis of an area's or country's economy, or a consistently consumed good that fulfills basic needs.
A level of output which can be continued indefinitely, without impairing the future productivity of any natural resources used.
The gradient, or the vector of partial derivatives, of the log-likelihood function with respect to the parameters of the distribution.
A comprehensive overview of seasonal unemployment, highlighting its causes, impacts, and variations across different economic frameworks.
Charges levied on individuals or their employers to pay for the costs of social security benefits.
Retaliation measures in international trade to deter further restrictions by foreign entities.
A comprehensive look at the Solow growth model, a fundamental concept in economics explaining economic growth through capital accumulation.
Understanding specialization in economics, where entities focus on producing specific goods and services while relying on others for what they do not produce.
An exploration of seller concentration, its definition, and implications in economics.
Comprehensive overview of 'Social Cost,' its definitions, major frameworks, and analytical perspectives in economics.
An economic model of duopoly where one firm acts as a leader and the other as a follower, influencing each other's strategic decisions.
A detailed exploration of stochastic volatility in financial economics, its implications, and applications.
