Among the many capabilities of chemistry is its ability to predict if a process will occur under specified conditions. Thermodynamics, the study of relationships between the energy and work associated with chemical and physical processes, provides this predictive ability. Previous chapters in this text have described various applications of thermochemistry, an important aspect of thermodynamics concerned with the heat flow accompanying chemical reactions and phase transitions. This chapter will introduce additional thermodynamic concepts, including those that enable the prediction of any chemical or physical changes under a given set of conditions.
economics theory describes individual behavior as the result of a process of optimization under constraints the objective to be reached being determined by
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Economics is a branch of social science that deal with How to wise use of resource ,s
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Economic Needs: In economics, needs are goods or services that are necessary for maintaining a certain standard of living. This includes things like healthcare, education, and transportation.
Money market is a branch or segment of financial market where short-term debt instruments are traded upon. The instruments in this market includes Treasury bills, Bonds, Commercial Papers, Call money among other.
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
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