Free Online Dictionary
|Wikipedia English The Free Encyclopedia||Download this dictionary|
Economic interdependence is a consequence of specialization, or the division of labor, and is almost universal. The participants in an economic system are dependent on others for the products they cannot produce efficiently for themselves. This physical interdependence implies corresponding linkages in the demands for products and the incomes of the participants. Economic interdependence was described as early as 1838, when A. A. Cournot wrote:
- "...but in reality the economic system is a whole for which the parts are connected and react on each other. An increase in the incomes of the producers of commodity A will affect the demand for commodities B, C, etc., and the incomes of their producers, and, by its reaction will change the demand for commodity A."
|See more at Wikipedia.org...|
The following video provides you with the correct English pronunciation of the word "ECONOMIC INTERDEPENDENCE", to help you become a better English speaker.
© This article uses material from Wikipedia® and is licensed under the GNU Free Documentation License and under the Creative Commons Attribution-ShareAlike License
|THE Eng-Cro Dictionary||Download this dictionary|
Free for individual usage/Besplatan za osobnu uporabu
|专业字典||Download this dictionary|
economic interests 经济利益
|EH Dictionary||Download this dictionary|
|English Croatian Dictionary||Download this dictionary|
| ECONOMIC INTERDEPENDENCE in English | ECONOMIC INTERDEPENDENCE in Turkish | ECONOMIC INTERDEPENDENCE in Croatian
You think you have ethics... Take the survey NOW!