Economic principles

J. W. Schlicher, Patent Eaw Eegaland Economic Principles, Clark Boardman Callaghan, New York, 1992. 

As is standard in the development of subdisciplines, these fields arose from an intuitive perceived need. Nothing more than the ability to maintain a critical mass of jaarticipants adequately justifies the separations. Although the areas deal with different bodies of fact, this distinction is insufficient to justify a field. If it were, we might also have automotive economics or baseball economics. All involve application of economic principles to particular problems. Finding unifying analytic bases for separation is piroblematic. 

Some resource economists fervently support the concept of sustainability. Others argue that the principle is less coherent, comprehensible, and compelling than prior concepts, particularly the core economics principle of efficiency. For economists, the choice of terminology is sccondaiy. The priniai y concern is resolving the underlying problems of possible market inefficiencies and the ability of governments to cure them. 

Subsidy is a transfer of money from government to an individual or a firm to stimulate undertaking a particular activity. Subsidies and subsidy-hke programs arc major parts of energy policies. However, such energy grants are only one example of government aid and not the most important examples. The basic economic principle that people respond favorably to financial incentives implies that such transfers stimulate the action that is aided. 

Economists also recognize that another concern is about equity, the fairness of the distribution of income. Economists differ as much as eveiyone else about the proper criteria of equity. However, economic principles create considerable agreement about how best to attain any given equity goal. A pri-niai-y principle is that the aid should go to people rather than specific commodities. 

Economists consider environmental policies within the framework of the category of externalities, as evidenced by Cropper and Oates [6] "The source of basic economic principles of environmental policy is to be found in the theory of externality."... 

Ritson C. (1977) Agricultural Economics Principles and Policy, Collins, London. 

Two examples are given below, which demonstrate the economical principles mentioned above. 

Richard C. Alkire, University of Illinois at Urbana Your economic examples here are good ones because they take us out of our box and make us think from another perspective. The impact of all of this information, not only on science and engineering but on our ability to determine the way we will live in the future, is so great that, like economics, it goes beyond economic principles. It gets into issues of ethics. 

The preceding examples typify the type of practical problems the chemical engineer encounters. In design work, theoretical and economic principles must be combined with an understanding of the common practical problems that will... 

Daly HE and Farley J (2004) Ecological Economics Principles and Applications. Washington, DC Island Press. 

Scott RD 2d, Solomon SL, McGowan JE Jr. Applying economic principles to health care. Emerg Infect Dis 2001 7 282-285. 

Keywords agriculture pesticides sustainable development economical principles 1. Introduction... 

A glance at this chart shows that not only has industrial development in the art of fixing atmospheric idtrogea been in the direction of lower power consumption, but also in the direction of lower plant cost. This it W ould seem is a natural course of development and Indicates that the fixation of atmospheric nitrogen Is developing along sound economic principles. 

If the existing production plant has not yet reached the end of its economic life, the total costs CjNx must also include the sunk-cost. This is the basic economic principle. In the case of investment this is modified by use of the following parameters Net present value (NPV = discounted cash flow in ten years minus investment), internal rate of return (IRR) and pay back period (PBP). Generally should be NPV > investment, IRR > cost of capital and PBP < 5 years. 

This chapter briefly presents the economic principles that drive collaborative manufacturing and the conditions supporting what manufacturing has become nowadays. Later sections of this chapter examine the coordination feature that enables collaborative manufacturing within and between enterprises and discuss several cases that demonstrate the ideas of collaborative manufacturing. 

Resource economic principle The principle, observable in many contexts, which states that the amount of a given resource that is available (e.g., money) must exceed the demand placed on it (e.g., cost of an item) if a specihed goal (e.g., purchase of the item) is to be achieved. 

THERMOECONOMICS is the branch of thermal sciences that combines a thermodynamic (exergy) analysis with economic principles to provide the designer or operator of an energy-conversion system with information which is not available through conventional thermodynamic analysis and economic evaluation but is cmcial to the design and operation of a cost-effective system. Thermoeconomics rests on the notion that exergy (available... 

Responsibility 5. Apply sound business practices and economic principles for efficient use of resources to increase the value of the safety processes. 

Sallyanne Peyton (1981), The Duty to Serve in the Presence of New Competition, in Applications of Economic Principles in Public Utility Industries (Werner Sichel and Thomas G. Gies, editors), Ann Arbor, Mich., University of Michigan. 

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