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The pullback bundle is an example that bridges the notion of a pullback as precomposition, and the notion of a pullback as a Cartesian square. In that example, the base space of a fiber bundle is pulled back, in the sense of precomposition, above. The fibers then travel along with the points in the base space at which they are anchored: the ...
Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) is a social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.
For the case of schemes, see Fiber product of schemes. In category theory, a branch of mathematics, a pullback (also called a fiber product, fibre product, fibered product or Cartesian square) is the limit of a diagram consisting of two morphisms f : X → Z and g : Y → Z with a common codomain. The pullback is written. P = X ×f, Z, g Y.
In economics, a public good (also referred to as a social good or collective good) [1] is a good that is both non-excludable and non-rivalrous. Use by one person neither prevents access by other people, nor does it reduce availability to others. [1] Therefore, the good can be used simultaneously by more than one person. [2]
The economics term cost, also known as economic cost or opportunity cost, refers to the potential gain that is lost by foregoing one opportunity in order to take advantage of another. The lost potential gain is the cost of the opportunity that is accepted. Sometimes this cost is explicit: for example, if a firm pays $100 for a machine, its cost ...
Rent. In classical economics rent was the return to an "owner" of land. In later economic theory this term is expanded as economic rent to include other forms of unearned income typically realized from barriers to entry. Land ownership is considered to be a barrier to entry because land owners make no contribution to the production process.
A more general definition is that a currency is a "system" of money (monetary units) in common use, especially within a particular nation. current account A country's current account is one of the two components of its balance of payments, the other being the capital account (also known as the financial account).
Disequilibrium macroeconomics is a tradition of research centered on the role of disequilibrium in economics. This approach is also known as non-Walrasian theory, equilibrium with rationing, the non-market clearing approach, and non-tâtonnement theory. [1] Early work in the area was done by Don Patinkin, Robert W. Clower, and Axel Leijonhufvud.