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May 14, 2025
What Is Thermoeconomics?
　　Thermoeconomics is defined as the application of thermodynamic principles to economics, as well as the application of principles of economics to the efficient design of engineering and industrial processes. Thermoeconomics analyses the power generation economics from the exergetic point of view, wherein exergy is available work energy. Thermoeconomics is based...
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What Is Thermoeconomics?
May 14, 2025
Largest Increases In Export To Import Ratios Since The Year 2000 By Country
　　International trade contributes significantly to the growth and development of economies around the world. International trade can be defined as the exchange of goods, services, and other capital goods across the country’s border or in the global market. The trade consists of export of goods to the global market and...
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Largest Increases In Export To Import Ratios Since The Year 2000 By Country
May 14, 2025
US Poverty Level By State
　　The term poverty threshold is used to refer to the dollar amount that a household needs to meet its needs. Any individuals or families whose pretax income falls below this dollar amount are considered to be poor in the technical sense of the word. 　　As of 2014, the poverty threshold...
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US Poverty Level By State
May 14, 2025
The Economy Of Thailand
　　Thailand has a heavily export-dependent economy and the industrial and service sectors are the biggest contributors to its economy. The country ranks the world’s 22nd largest export economy. It has been ranked as an upper-middle income economy since 2011 and has exhibited sustained economic and social progress over the years....
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The Economy Of Thailand
May 14, 2025
The Economy Of Jamaica
　　Overview Of The Economy Of Jamaica 　　Jamaica is considered an upper middle-income nation. For a long time, it has struggled with global economic shocks, low growth, and high public debt that have weakened the economy. The past three decades, Jamaica has experienced a slow growth at an average of 1%...
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The Economy Of Jamaica
May 14, 2025
National Economies Driven By The Merchandise Trade
　　Over the past decade, the world economy has trended towards goods and services being traded across borders rather than being preferentially produced, rendered, and sold at home. World trade today has increased threefold since 2002, reaching a level of over $18 trillion USD annually. The global balance is shifting, as...
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National Economies Driven By The Merchandise Trade
May 14, 2025
Waterway Locks And Their Role In Shipping
　　5. Why Do Boats Need Locks? Not only, boats need locks but ships also need the same to sail through a river or canal either uphill or downhill. Some rivers across the world have been shallow-water and are thus not navigable. Some other has an excessive flow of water during...
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Waterway Locks And Their Role In Shipping
May 14, 2025
Global Leaders In Merchandise Imports
　　The volumes and values of merchandise imports vary considerably from country to country. Natural resources such as petroleum, iron ore and minerals are unequally distributed across the world, a situation which necessitates a global trade. Petroleum products are the most imported natural resources due to the increasing global demand for...
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Global Leaders In Merchandise Imports
May 14, 2025
The Largest Banks of Southeast Asia
　　The banking sector in Southeast Asia has outperformed the global banking sector since the global financial crisis. The banks have continued to offer growth opportunity, especially in the emerging markets. The diverse economies of the Southeast Asia and the individual nations have propelled the growth of the banking sector in...
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The Largest Banks of Southeast Asia
May 14, 2025
The Smelting Industry: Global Importance And Risks
　　Smelting is a method widely used to extract metals from their ores after mining. There are many variations of smelting, and equally as many for extracting the many metals used in modern society. However. many of these processes have also been known to cause environmental damage and pollution. 　　5. Metals...
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The Smelting Industry: Global Importance And Risks
May 14, 2025
What Does Utility Mean In Economics?
　　Utility explains how individuals and economies aim to gain optimal satisfaction from receiving a product, good, or service when dealing with scarcity thereof. It is measured in units of satisfaction called utils, and is divided into two categories, the total utility and the marginal utility. Total utility is the aggregate...
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What Does Utility Mean In Economics?
May 14, 2025
List of Obsolete US Currencies
　　The United States uses the United States Dollar as its official currency. It is made up of 100 cents. The currency is issued in various denominations in coins and dollars. However, in the past several coins and notes that were in circulation were demonetized and are currently held by museums...
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List of Obsolete US Currencies
May 14, 2025
What Are Inferior Goods And Normal Goods?
　　An inferior good is a good that decreases in demand when the income of the consumer increases. The term inferiority in this context refers to the price of the commodity and not necessarily the quality. For example, the price of second-hand clothes is lower than that of new clothes. When...
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What Are Inferior Goods And Normal Goods?
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