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ECONOMIC AND MONETARY UNION: An aspect of the European Union designed to integrate economic and monetary policies and establish a single currency (the euro). The Economic and Monetary Union, abbreviated EMU, was created by the 1992 Maastricht Treaty and officially came into existence in 1999. The European Central Bank has control over monetary policy and the money supply for the Economic and Monetary Union.
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                           AXIOM: A basic precondition or assumption underlying a theory. Axioms are basic, unverifiable world view assumptions--including personal beliefs, political views, and cultural values--that form the foundation of a theory. An axiom is a statement or notion that is unprovable, but presumed to be true. Axioms cannot be verified directly with real world data, and as such are largely accepted on faith. They comprise the world view of a scientific theory. Many axioms reflect religious beliefs, political ideologies, and views about the basic nature of humanity and the universe. Belief in a supreme, omnipotent, omniscience being is one such axiom. The notion that people are basically good (or bad) is another. The presumption that the universe abides by cause-and-effect relations is a key axiom for all of science.While axioms cannot be verified directly with real world data, as is the case for hypotheses, they can be "checked" indirectly. Suppose, for example, dozens of theories that employ the same axiom generate hundreds of hypotheses that are refuted by real world data. The problem might rest with this axiom. If this axiom is then replaced with an alternative, and the subsequent hypotheses are supported by data, then the validity of the original axiom is even more suspect.
 Recommended Citation:AXIOM, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: February 8, 2025]. Check Out These Related Terms... | | | | | | | | | | | Or For A Little Background... | | | And For Further Study... | | | | | | |
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YELLOW CHIPPEROON [What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either several magazines on computer software or a T-shirt commemorating the second moon landing. Be on the lookout for letters from the Internal Revenue Service. Your Complete Scope
This isn't me! What am I?
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"Learn to enjoy every minute of your life. Be happy now. Don't wait for something outside of yourself to make you happy in the future. Think how really precious is the time you have to spend, whether it's at work or with your family. Every minuteshould be enjoyed and savored." -- Earl Nightingale
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AVC Average Variable Cost
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