Aggregate supplyIn economics, aggregate supply (AS) or domestic final supply (DFS) is the total supply of goods and services that firms in a national economy plan on selling during a specific time period. It is the total amount of goods and services that firms are willing and able to sell at a given price level in an economy. There are two main reasons why the amount of aggregate output supplied might rise as price level P rises, i.e., why the AS curve is upward sloping: The short-run AS curve is drawn given some nominal variables such as the nominal wage rate, which is assumed fixed in the short run.
PhasorIn physics and engineering, a phasor (a portmanteau of phase vector) is a complex number representing a sinusoidal function whose amplitude (A), angular frequency (ω), and initial phase (θ) are time-invariant. It is related to a more general concept called analytic representation, which decomposes a sinusoid into the product of a complex constant and a factor depending on time and frequency. The complex constant, which depends on amplitude and phase, is known as a phasor, or complex amplitude, and (in older texts) sinor or even complexor.
Endogenous growth theoryEndogenous growth theory holds that economic growth is primarily the result of endogenous and not external forces. Endogenous growth theory holds that investment in human capital, innovation, and knowledge are significant contributors to economic growth. The theory also focuses on positive externalities and spillover effects of a knowledge-based economy which will lead to economic development. The endogenous growth theory primarily holds that the long run growth rate of an economy depends on policy measures.
VolumeVolume is a measure of three-dimensional space. It is often quantified numerically using SI derived units (such as the cubic metre and litre) or by various imperial or US customary units (such as the gallon, quart, cubic inch). The definition of length (cubed) is interrelated with volume. The volume of a container is generally understood to be the capacity of the container; i.e., the amount of fluid (gas or liquid) that the container could hold, rather than the amount of space the container itself displaces.
Total factor productivityIn economics, total-factor productivity (TFP), also called multi-factor productivity, is usually measured as the ratio of aggregate output (e.g., GDP) to aggregate inputs. Under some simplifying assumptions about the production technology, growth in TFP becomes the portion of growth in output not explained by growth in traditionally measured inputs of labour and capital used in production. TFP is calculated by dividing output by the weighted geometric average of labour and capital input, with the standard weighting of 0.
Three-phase electric powerThree-phase electric power (abbreviated 3φ) is a common type of alternating current (AC) used in electricity generation, transmission, and distribution. It is a type of polyphase system employing three wires (or four including an optional neutral return wire) and is the most common method used by electrical grids worldwide to transfer power. Three-phase electrical power was developed in the 1880s by several people. In three-phase power, the voltage on each wire is 120 degrees phase shifted relative to each of the other wires.
SmartphoneA smartphone is a portable computer device that combines mobile telephone functions and computing functions into one unit. They are distinguished from older-design feature phones by their more advanced hardware capabilities and extensive mobile operating systems, which facilitate wider software, access to the internet (including web browsing over mobile broadband), and multimedia functionality (including music, video, cameras, and gaming), alongside core phone functions such as voice calls and text messaging.
Molar volumeIn chemistry and related fields, the molar volume, symbol Vm, or of a substance is the ratio of the volume occupied by a substance to the amount of substance, usually given at a given temperature and pressure. It is equal to the molar mass (M) divided by the mass density (ρ): The molar volume has the SI unit of cubic metres per mole (m3/mol), although it is more typical to use the units cubic decimetres per mole (dm3/mol) for gases, and cubic centimetres per mole (cm3/mol) for liquids and solids.
IPhoneiPhone is a line of smartphones produced by Apple Inc. that use Apple's own iOS mobile operating system. The first-generation iPhone was announced by then-Apple CEO Steve Jobs on January 9, 2007. Since then, Apple has annually released new iPhone models and iOS updates. As of November 1, 2018, more than 2.2 billion iPhones had been sold. As of 2022, the iPhone accounts for 15.6% of global smartphone market share. The iPhone was the first mobile phone to use multi-touch technology.
