Mathematics and Economics
- Absorption law, in mathematics, an identity linking a pair of binary operations
- Absorbing element, in mathematics, an element that does not change when it is combined in a binary operation with some other element
- Absorption (economics), the total demand of an economy for goods and services both from within and without
- Absorption costing, or total absorption costing, a method for appraising or valuing a firm's total inventory by including all the manufacturing costs incurred to produce those goods
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Famous quotes containing the words mathematics and/or economics:
“In mathematics he was greater
Than Tycho Brahe, or Erra Pater:
For he, by geometric scale,
Could take the size of pots of ale;
Resolve, by sines and tangents straight,
If bread and butter wanted weight;
And wisely tell what hour o’ th’ day
The clock doth strike, by algebra.”
—Samuel Butler (1612–1680)
“I am not prepared to accept the economics of a housewife.”
—Jacques Chirac (b. 1932)