File Name: list of basic economic terms and definitions .zip
This ebook is developed by the CORE project. More information and additional resources for learning and teaching can be found at www. The Economy. Glossary abatement policy A policy designed to reduce environmental damages.
The ability of a country, individual, company or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that good or service. Poverty defined with respect to an absolute material standard of living. Someone is absolutely poor if their income does not allow them to consume enough to purchase a minimum bundle of consumer goods and services including shelter, food and clothing. An alternative approach is to measure relative poverty. Government fiscal policies which have the effect of automatically moderating the cyclical ups and downs of capitalism. Examples include income taxes which collect more or less taxes depending on the state of the economy and unemployment insurance benefits which automatically replace lost income for people who lose their jobs. Automatic stabilizers act in a manner that is against the prevailing economic trend.
Why use difficult, harder-to-pronounce words when short and simple ones can do the trick? When it comes to economics, knowing the right English jargon for your job is important. In short, it increases your chance of getting and keeping your job! Download: This blog post is available as a convenient and portable PDF that you can take anywhere. Click here to get a copy.
For more information about IEDC, visit their website: www. Angel Investor. Assessed Valuation. Total assessed valuation denotes the sum of the monetary worth of all taxable properties within a jurisdiction. Benchmarking … quantifiable measures of economic competitiveness and quality of life that can be collected on a regular basis. Bond … a certificate of debt issued by a government or corporation guaranteeing payment of the origi-nal investment plus interest by a specified future date.
Account Options Sign in. Top charts. New releases. Add to Wishlist. Oxford Dictionary of Economics - an authoritative and comprehensive dictionary containing 2, key economic terms with clear, concise definitions. This dictionary covers all aspects of economics including economic theory, applied microeconomics and macroeconomics, labor economics, public economics and public finance, monetary economics, environmental economics, and many others. There is strong coverage of international trade and many entries on economic organizations and institutions from around the world.
As a novice, economics seems to be a dry social science that is laced with diagrams and statistics; a complex branch that deals with rational choices by an individual as well as nations — a branch of study which does not befit isolated study but delving into the depths of other subject areas such as psychology and world politics. Economics Definition: Economics is essentially a study of the usage of resources under specific constraints, all bound with an audacious hope that the subject under scrutiny is a rational entity which seeks to improve its overall well-being. Two branches within the subject have evolved thus: microeconomics individual choices which deals with entities and the interaction between those entities, while macroeconomics aggregate outcomes deals with the entire economy as a whole. A typical college student or an overburdened husband? Semester books and carton of cigarettes choices are to be purchased with a limited amount of pocket money constraints. The aim of studying economics is to understand the decision process behind allocating the currently available resources, the needs always unlimited but resources being limited. The economic and political systems of a country are closely inter-linked and jointly determine the well-being of its citizens.
This glossary of economics is a list of definitions of terms and concepts used in economics , its sub-disciplines, and related fields. Also called resource cost advantage. Also called domestic final demand DFD or effective demand. Also called domestic final supply DFS. Also called a competition law or anti-monopoly law.
Households: The basic unit of individual economic behaviour. Households offer labour supply to the labour market, earn income (from employment and other.
We suggest you save this as a PDF and use it as a handy guide for your preparation. Adam Smith: A Scottish Economist, author and a moral philosopher. Average revenue: Refers to the revenue received for selling a good per unit of output sold. This is found by dividing the total revenue by quantity sold. It is the total revenue minus the explicit cost.
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Он использовал подход, который никому из нас не приходил в голову. - А зачем это нам? - спросила Сьюзан. - В этом нет никакого смысла.
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