| 单词 | constraint |
| 释义 | constraint A condition which has to be satisfied for any economic activity to be feasible. Constraints may arise from facts of nature: for example, a country has only a certain amount of land available. They may arise from human actions in the past: a country's capital stock is pre-determined by its past investment, and its working population by its past immigration policies. Such constraints can be changed by human action, but only gradually. Constraints may arise from the limits on available technology; this again can be improved on by research and development, but only gradually and subject to uncertainty. Finally, constraints are imposed on human agents by the need to motivate others: people will not work without pay or lend without interest. Constraints are usually expressed in terms of inequalities, since while the economy cannot use more of a resource than there is, some can be left unemployed. Economic problems typically take the form of maximizing or minimizing some objective function subject to satisfying a number of constraints, each of which may or may not be effective. See also: budget constraint, integer constraint, and liquidity constraint |
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