|
|
ECONOMIC EFFICIENCY: Obtaining the most consumer satisfaction from available resources. This is what most economists mean when the term efficiency arises. Economic efficiency means our economy is doing the best job possible of satisfying unlimited wants and needs with limited resources--that is, of addressing the problem of scarcity.
Visit the GLOSS*arama
|
|
|
|
                           PHYSICAL SCIENCE: The scientific study of the physical world, especially nonhuman, nonsociety phenomena, such as atoms, planets, wildlife, and continental drift. Common disciplines that study these physical phenomena are physics, chemistry, biology, geology, and astronomy. Physical science is one of two broad scientific classifications. The other is social science, which is the study human behavior and society. Physical science contains the areas of study most commonly associated with the term science, especially astronomy, physics, chemistry, and biology. These are the areas that were first to use the scientific method to explain and understand the workings of the world. Chemists, physicists, biologists, and astronomers developed experiments, data collection techniques, and hypothesis testing procedures designed to develop theoretical explanations of the world.Because these physical sciences were the first to use the scientific method some scientific purists tend to look down on social sciences, including economics, as not meriting the title of "science." The distinction between social and physical sciences, however, is somewhat arbitrary. For example, while psychologists study human behavior and chemists study chemical reactions, a growing body of evidence suggests that human behavior depends on chemical reactions in the brain. As such, are chemists who study the chemistry of the brain doing physical science or social science? Or are psychologists who study behavior related to the chemistry of the brain doing social science or physical science? The conclusion is both and neither. The conclusion is that the real world is somewhat arbitrarily segmented into different areas, including physical science and social science as well as chemistry and psychology. This segmentation enables specialization of scientific effort as scientists become experts in narrowly defined topics. The real world, however, is a continuum of complex, interrelated phenomena. So long as this interrelated continuum is recognized, specialization produces all sorts of efficiency benefits.
Recommended Citation:PHYSICAL SCIENCE, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: August 24, 2019].
Check Out These Related Terms... | | |
Or For A Little Background... | | | | | | | | | | | |
And For Further Study... | | | | |
Related Websites (Will Open in New Window)... | |
Search Again?
Back to the WEB*pedia
|
|
|
GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet hoping to buy either a flower arrangement with daisies and carnations for your uncle or a coffee cup commemorating next Thursday. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
Your Complete Scope
This isn't me! What am I?
|
|
|
In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
|
|
|
"An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive business advantage. " -- Jack Welch, General Electric chief executive
|
|
PV
Present Value
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
