{"product_id":"algebra-and-discrete-mathematics-for-economics-9783112234426","title":"Algebra and Discrete Mathematics for Economics","description":"\u003cp\u003eAlgebra and Discrete Mathematics are essential tools also for economists. \u003cbr\u003eGlobalization makes that goods and services are exchanged worldwide. Input-output analysis uses the advantage of a relatively stable flow of commodities and services. The essential principles can be described by input-output tables. Such tables correspond to systems of linear equations, written as single equations consisting of matrices whose entries are non-negative rational numbers. The flow itself can be described by a directed edge-valued graph where the sets of values consist of positive rational numbers. Therefore numbers, especially non-negative rational numbers, multiple-partite graphs and matrices with non-negative rational entries play an important role in input-output analysis. Thus knowledge from Algebra and Discrete Mathematics becomes more and more useful in this area.\u003cbr\u003eWe will consider a particular set of graphs, the so-called input-output graphs and a particular set of matrices, the input-output matrices, define a partial binary operation on each of these sets and prove that we obtain weakly isomorphic weakly partial semigroups. The result of considering this situation can be applied to multiple-step production processes, to material reqirements planning and to internal cost allocation of a business.     \u003cbr\u003eThe results show that Algebra and Discrete Mathematics are quite useful for mathematical modeling in Economy.\u003c\/p\u003e","brand":"Klaus Denecke","offers":[{"title":"Default Title","offer_id":48751392325883,"sku":"9783112234426","price":87.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0779\/3917\/9771\/files\/CoreSourceHub_33e25547-638c-4627-ac30-4128ae2261a1.jpg?v=1780867121","url":"https:\/\/indiepubs.com\/products\/algebra-and-discrete-mathematics-for-economics-9783112234426","provider":"IndiePubs","version":"1.0","type":"link"}