Deadweight loss — created by a binding price ceiling. Producer surplus is necessarily decreased, while consumer surplus may or may not increase; however the decrease in producer surplus must be greater than the increase (if any) in consumer surplus. In economics,… … Wikipedia
Keynesian economics — Economics … Wikipedia
Price elasticity of demand — Not to be confused with Price elasticity of supply. PED is derived from the percentage change in quantity (%ΔQd) and percentage change in price (%ΔP). Price elasticity of demand (PED or Ed) is a measure used in economics to show the… … Wikipedia
Plasticity (physics) — Plastic material redirects here. For the material used in manufacturing, see Plastic. Continuum mechanics … Wikipedia
Elasticity (physics) — A material is said to be elastic if it deforms under stress (e.g., external forces), but then returns to its original shape when the stress is removed. The amount of deformation is called the strain. Modeling elasticity The elastic regime is… … Wikipedia
Viscoplasticity — Figure 1. Elements used in one dimensional models of viscoplastic materials. Viscoplasticity is a theory in continuum mechanics that describes the rate dependent inelastic behavior of solids. Rate dependence in this context means that the… … Wikipedia
distribution theory — ▪ economics Introduction in economics, the systematic attempt to account for the sharing of the national income among the owners of the factors of production land, labour, and capital. Traditionally, economists have studied how the costs of … Universalium