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Encyclopedia > List of economics topics

This aims to be a complete list of the articles on economics. It does not include articles about economists, who are listed in the list of economists. ‹ The template below is being considered for deletion. ... This is an alphabetical list of notable economists. ...



Contents: Top - 0–9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z


A

It has been suggested that Accounting scholarship be merged into this article or section. ... Accounting reform is an expansion to accounting rules that goes beyond the realm of financial measures for both individual economic entities and national economies. ... Damage from Hurricane Katrina. ... In economics, adaptive expectations means that people base their expectations of what will happen in the future based on what has happened in the past. ... Adverse selection or anti-selection is a term used in economics and insurance. ... In economics, an agent is an element of a model who solves an optimization problem. ... Agent-based computational economics (ACE) is the computational study of economic processes modeled as dynamic systems of interacting agents. ... In economics, aggregate demand is the total demand for goods and services in the economy (Y) during a specific time period. ... In economics, aggregate supply is the total supply of goods and services by a national economy during a specific time period. ... This article needs to be cleaned up to conform to a higher standard of quality. ... This article is about anti-competitive business behavior. ... In economics and finance, arbitrage is the practice of taking advantage of a price differential between two or more markets: a combination of matching deals are struck that capitalize upon the imbalance, the profit being the difference between the market prices. ... In voting systems, Arrow’s impossibility theorem, or Arrow’s paradox, demonstrates that no voting system can possibly meet a certain set of reasonable criteria when there are three or more options to choose from. ... In economics, information asymmetry occurs when one party to a transaction has more or better information than the other party. ... This article needs additional references or sources for verification. ... The Austrian School, also known as the Vienna School or the Psychological School, is a school of economic thought that advocates adherence to strict methodological individualism. ... An autarky is an economy that limits trade with the outside world, or an ecosystem not affected by influences from the outside, and relies entirely on its own resources. ...

B

In game theory, backward induction is one of dynamic programming algorithms used to compute subgame perfect equilibria in sequential games. ... The balance of payments is a measure of the payments that flow from one exports and imports of goods, services, and financial capital, as well financial transfers. ... The balance of trade encompasses the activity of exports and imports, like the work of this cargo ship going through the Panama Canal. ... For other uses, see Bank (disambiguation). ... Notice of closure stuck on the door of a computer store the day after its parent company, Granville Technology Group Ltd, declared bankruptcy (strictly, put into administration—see text) in the United Kingdom. ... The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel (in Swedish Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is a prize awarded each year for outstanding intellectual contributions in the field of economics. ... Nobel Prize in Economics winner Daniel Kahneman, was an important figure in the development of behavioral finance and economics and continues to write extensively in the field. ... Economics Nobel Laureate Daniel Kahneman, was an important figure in the development of behavioral finance and economics and continues to write extensively in the field. ... A Bellman equation (also known as a dynamic programming equation), named after its discoverer, Richard Bellman, is a necessary condition for optimality associated with the mathematical optimization method known as dynamic programming. ... Cost-benefit analysis is the process of weighing the total expected costs vs. ... A bequest motive seeks to provide an economic justification for the phenomenon of gratuitous, intergenerational transfers of wealth. ... McDonalds Big Mac purchased in Australia The Big Mac Index is an informal way of measuring the purchasing power parity (PPP) between two currencies and provides a test of the extent to which market exchange rates result in goods costing the same in different countries. ... The Big Push Model is a concept in development economics or welfare economics that emphasizes the fact that a firms decision whether to industrialize or not depends on the expectation of what other firms will do. ... Bioeconomics is a field of resource economics including the dynamics of living resources in economical modelling. ... It has been suggested that this article or section be merged into underground economy. ... The Black-Scholes model, often simply called Black-Scholes, is a model of the varying price over time of financial instruments, and in particular stocks. ... The Theory & Its Origins Bullionism is an economic theory that defines wealth by the amount of precious metals owned. ... // [edit] Introduction [edit] Definition If we were to take snapshots of an economy at different points in time, no two photos would look alike. ...

C

In agriculture, a cash crop is a crop which is grown for money. ... The economies of Canada and the United States are extremely similar because they are both developed countries, which have mixed economies and are each others largest trading partners. ... Capital has a number of related meanings in economics, finance and accounting. ... In accounting, a capital asset is an asset that is recorded as capital - that is, property that creates more property, e. ... Capital intensity is the term in economics for the amount of fixed or real capital present in relation to other factors of production, especially labor. ... For other uses, see Capitalism (disambiguation). ... A cartel is a group of formally independent producers whose goal is to increase their collective profits by means of price fixing, limiting supply, or other restrictive practices. ... The Catch-Up Effect is a theory stating that Economies that start off poor tend to grow faster than countries that start off richer. ... Ceteris paribus is a Latin phrase, literally translated as with other things [being] the same, and usually rendered in English as all other things being equal. ... A charity shop or hospice shop(UK), thrift shop or thrift store or hospice shop(U.S., Canada), resale shop when not meaning consignment shop (U.S.), or op shop (Australia/NZ, from opportunity shop) is a retail establishment operated by a charitable organization for the purpose of fundraising. ... The Chicago School of Economics is a school of thought in economics; it refers to the style of economics practiced at and disseminated from the University of Chicago after 1946. ... Classical economics is widely regarded as the first modern school of economic thought. ... In the classical general equilibrium model, the individual is assumed to be the basic unit of analysis and these individuals, both workers and employers, will make choices that reflect their unique tastes, objectives, and preferences. ... This article or section is in need of attention from an expert on the subject. ... The Cobweb model or Cobweb theory explains why prices in certain markets are subject to periodic fluctuation. ... The economic theory of collective action is concerned with the provision of public goods (and other collective consumption) through the collaboration of two or more individuals, and the impact of externalities on group behavior. ... Look up collusion in Wiktionary, the free dictionary. ... This article does not cite any references or sources. ... Chicago Board of Trade Futures market Commodity markets are markets where raw or primary products are exchanged. ... In economics, a local currency is a currency not backed by a national government, and intended to trade only in a small area. ... In economics, the theory of comparative advantage explains why it can be beneficial for two parties (countries, regions, individuals and so on) to trade if one has a lower relative cost of producing some good. ... Comparative statics is the comparison of two different equilibrium states, before and after a change in one of the variables. ... Compensating differential is a term used in labor economics to analyze the relation between the wage rate and the unpleasantness, risk, or other undesirable attributes of a particular job. ... Competition is the act of striving against others for the purpose of achieving gain, such as income, pride, amusement, or dominance. ... A complement or complementary good is defined in economics as a good that should be consumed with another good; its cross elasticity of demand is negative. ... A complement or complementary good is defined in economics as a good that should be consumed with another good; its cross elasticity of demand is negative. ... The Comprehensive Income Policy Agreement (Finnish: tulopoliittinen kokonaisratkaisu) is a tri-lateral treaty crafted by the Finnish government together with employees and employers trade unions. ... Computational economics is a form of economics which relies on mathematical methods, including mathematical economics and econometrics. ... In economics, the concentration ratio of an industry is used as an indicator of the relative size of firms in relation to the industry as a whole. ... Consumers refers to individuals or households that purchase and use goods and services generated within the economy. ... This page deals with the various forms of economic surplus, including producer, consumer, government, and social/total surplus. ... It has been suggested that this article be split into multiple articles accessible from a disambiguation page. ... “Consumerist” redirects here. ... Consumer sovereignty is a term which is used in economics to refer to the disputed notion of the rule or sovereignty of purchasers over producers in markets. ... Consumer theory is a theory of economics. ... In economics, consumption refers to the final use of goods and services to provide utility. ... In economics, a contestable market is a market in which competitive pricing can be observed, even though there may be only one firm serving the market, so that it would normally be classed as a monopoly. ... A contract curve is the set of all points in an Edgeworth box that are Pareto efficient. ... Contract theory comprises many different theories and various interpretations of the various body of rules and subrules that define Contract Law. ... For cooperative as used in biochemistry, see cooperative binding. ... In economics, business, and accounting, a cost is the value of inputs that have been used up to produce something, and hence are not available for use anymore. ... Cost-benefit analysis is an important technique for project appraisal: the process of weighing the total expected costs against the total expected benefits of one or more actions in order to choose the best or most profitable option. ... A cost curve is a graph of the costs of production as a function of total quantity produced. ... The cost of money refers to the availability of credit and the interest rate at which that credit is available, expressed as present future value. ... Cost of production is the next best alternative forgone. ... Cost overrun is defined as excess of actual cost over budget. ... Cost-push inflation or supply-shock inflation is a type of inflation caused by large increases in the cost of important goods or services where no suitable alternative is available. ... Cournot competition is an economic model used to describe industry structure. ... Cost underestimation is defined as the act of assessing the cost of a future venture lower than what actual cost turned out to be once the venture was implemented. ... In economics, the cross elasticity of demand or cross price elasticity of demand measures the responsiveness of the quantity demanded of a good to a change in the price of another good. ... Cultural ecology is ecology including humans. ...

D

In economics, a deadweight loss (also known as excess burden) is a permanent loss of well being to society that can occur when equilibrium for a good or service is not Pareto optimal, (that at least one individual could be made better off without others being made worse off). ... Decentralization is the process of dispersing decision-making closer to the point of service or action. ... This article does not cite any references or sources. ... “Deflation” redirects here. ... Demand-pull inflation arises when aggregate demand in an economy outpaces aggregate supply. ... WORLD OF WARCRAFT IS THE BEST GAME EVER INVENTED AND PLAY IT. IF YOU DONT PLAY WORLD OF WARCRAFT, YOU ARE A nOOb. ... Devaluation is a reduction in the value of a currency with respect to other monetary units. ... This article does not cite any references or sources. ... As a solution to the Bertrand paradox (economics) it has been suggested that each firm produces a somewhat differentiated product and consequently faces a demand curve that is downward-sloping for all price levels that the firm may charge. ... pollution credits, sometimes called pollution permits or pollution certificates are pollution rights as used in emissions trading. ... Disinflation is a decrease in the rate of inflation. ... In economics, dispersed knowledge is information that is dispersed throughout the marketplace, and is not in the hands of any single agent. ... Dividend imputation in the Australian tax system allows companies to attach franking credits to dividends paid. ... Wikibooks has more about this subject: Marketing Distribution is one of the 4 aspects of marketing. ... In mathematics and computer science, dynamic programming is a method of solving problems exhibiting the properties of overlapping subproblems and optimal substructure (described below) that takes much less time than naive methods. ... Dynamic stochastic general equilibrium modeling (abbreviated DSGE or sometimes DGE) is a branch of applied general equilibrium theory that is increasingly influential in contemporary macroeconomics. ...

E

The term Economies of agglomeration is used in urban economics to describe the benefits that firms obtain when locating near each other. ... The increase in output from Q to Q2 causes a decrease in the average cost of each unit from C to C1. ... This article or section does not cite any references or sources. ... Economic base analysis was developed by Robert Murray Haig in his work on the Regional Plan of New York in 1928. ... The economic calculation problem is a criticism of socialist economics. ... This article needs to be wikified. ... Price of market balance In economics, economic equilibrium is simply a state of the world where economic forces are balanced and in the abscence of external shocks the (equilibrium) values of economic variables will not change. ... Economic geography is the study of the location, distribution and spatial organisation of economic activities across the Earth. ... World GDP/capita changed very little for most of human history before the industrial revolution. ... Economic history is the study of economic change, and of economic phenomena in the past. ... The economic impact of immigration to Canada is a much-debated topic in Canada. ... An economic indicator (or business indicator) is a statistic about the economy. ... A diagram of the IS/LM model In economics, a model is a theoretical construct that represents economic processes by a set of variables and a set of logical and quantitative relationships between them. ... Not to be confused with Political economy. ... In accounting Economic Profit, or EP, is a single-period metric to determine the value created by a company in one year. ... The basic economic problem is a term used in economic theory. ... This article does not cite any references or sources. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Economic subjectivism is the theory that value is a feature of the appraiser and not of the thing being valued. ... An economic system is a particular set of social institutions which deals with the production, distribution and consumption of goods and services in a particular society. ... ‹ The template below is being considered for deletion. ... Econometrics is concerned with the tasks of developing and applying quantitative or statistical methods to the study and elucidation of economic principles. ... Ecological economics is a transdisciplinary field of academic research that addresses the dynamic and spatial interdependence between human economies and natural ecosystems. ... In economics, an Edgeworth box, named after Francis Ysidro Edgeworth, is a way of representing various distributions of resources. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... In labor economics, the efficiency wage hypothesis argues that wages, at least in some markets, are determined by more than simply supply and demand. ... Efficient markets theory is a field of economics which seeks to explain the workings of capital markets such as the stock market. ... In economics, elasticity is the ratio of the proportional change in one variable with respect to proportional change in another variable. ... An electricity market is a system for effecting the purchase and sale of electricity using supply and demand to set the price. ... This article is about work. ... In an economic model, an endogenous change is one that comes from inside the model and is explained by the model itself. ... In economics, endogenous growth theory or new growth theory was developed in the 1980s as a response to criticism of the neo-classical growth model. ... A new start for the article is proposed under Energy economics/new. ... For the sequel to the computer game Entrepreneur, which has no article of its own, see The Corporate Machine. ... Entrepreneurship is the practice of starting new organizations, particularly new businesses generally in response to identified opportunities. ... Entrepreneurial Economics If entrepreneurship remains as important to the economy as ever, then the continuing failure of mainstream economics to adequately account for entrepreneurship indicates that fundamental principles require re-evaluation. ... Environmental economics is a subfield of economics concerned with environmental issues (other usages of the term are not uncommon). ... The field of environmental finance, part of both environmental economics and the conservation movement, exploits various financial instruments (most notably land trusts) to protect biodiversity. ... Equilibrium price is the price at which the quantity demanded of a good or service is equal to the quantity supplied. ... Equilibrium selection is a concept from game theory which seeks to address reasons for players of a game to select a certain equilibrium over another. ... For other uses, see Euro (disambiguation). ... An Event study uses transactions data from financial markets to predict the financial gains and losses associated with newly disseminated information. ... Evolutionary economics is a relatively new economic methodology that is modeled on biology. ... Exceptionalism is the perception that a country, society, institution, movement, or time period is exceptional (ie. ... The expected utility hypothesis is the hypothesis in economics that the utility of an agent facing uncertainty is calculated by considering utility in each possible state and constructing a weighted average. ... The Experience Economy, according to B. Joseph Pine II and James H. Gilmore in their 1999 book of the same name, is an advanced service economy which has begun to sell mass customization services that are similar to theatre, using underlying goods and services as props. ... Experimental economics is the use of experimental methods to evaluate theoretical predictions of economic behaviour. ... In economics, an externality is an impact (positive or negative) on anyone not party to a given economic transaction. ...

F

In economics, factors of production are resources used in the production of goods and services, including land, labor, and capital. ... Factor price equalization is an economic theory, which states that the relative prices for two identical factors of production in the same market will eventually equal each other because of competition. ... For other uses, see Fair trade (disambiguation). ... Feminist economics broadly refers to a developing branch of economics that applies feminist insights and critiques to mainstream economics. ... Finance studies and addresses the ways in which individuals, businesses, and organizations raise, allocate, and use monetary resources over time, taking into account the risks entailed in their projects. ... Financial astrology (also known as business astrology, economic astrology, and/or astro-economics) is the practice of relating/correlating the movements of celestial bodies to events in financial markets. ... In brief, financial capital is money used by entreprenuers and businesses to buy what they need to make their products (or provide their services). ... Financial economics is the branch of economics concerned with resource allocation over time. ... Financial instruments package financial capital in readily tradeable forms - they do not exist outside the context of the financial markets. ... Fiscal neutrality is a term referring to the impact of taxation on the economy. ... Fiscal policy is the economic term that defines the set of principles and decisions of a government in setting the level of public expenditure and how that expenditure is funded. ... NOTE: this is not Fishers equation in differential equations The Fisher equation in financial mathematics and economics estimates the relationship between nominal and real interest rates under inflation. ... The Fisher separation theorem in economics asserts that the objective of a firm will be the maximization of its present value, regardless of the preferences of its owners. ... Look up forecast in Wiktionary, the free dictionary. ... Fractional-reserve banking refers to the common banking practice of issuing more credit than the bank holds as reserves. ... The free good is a term used in economics to describe a good that is not scarce. ... In economics and political science, free riders are actors who consume more than their fair share of a resource, or shoulder less than a fair share of the costs of its production. ... Free trade is an economic concept referring to the selling of products between countries without tariffs or other trade barriers. ... The Friedman rule is the term given for Milton Friedmans policy regarding cash-in-advance models of monetary systems. ... Full-reserve banking is a theoretically conceivable banking practice in which all deposits, banknotes, and notes in a financial system would be backed up by assets with a store of value. ...

G

Game theory is often described as a branch of applied mathematics and economics that studies situations where multiple players make decisions in an attempt to maximize their returns. ... General Equilibrium (linear) supply and demand curves. ... It isnt merely your imagination grass is greener on the other side. ... For most products, price elasticity of demand is negative. ... Graphical representation of the Gini coefficient The Gini coefficient is a measure of inequality of income distribution or inequality of wealth distribution. ... New totalitarianism is a term coined by ethicist John McMurtry to describe the political economy implied by so-called market theology; in other words, the ethics resolved wholly by the global markets with existing state power balances. ... A KFC franchise in Kuwait. ... In economics and game theory, global games are games of incomplete information where players receive possibly-correlated signals of the underlying state of the world. ... The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold. ... A good in economics is any physical object (natural or man-made) or service that, upon consumption, increases utility, and therefore can be sold at a price in a market. ... Although Goodharts law has been expressed in a variety of formulations, the essence of the law is that once a social or economic indicator or other surrogate measure is made a target for the purpose of conducting social or economic policy, then it will lose the information content that... In economics, a government-granted monopoly (also called a de jure monopoly) is a form of coercive monopoly in a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation... Green economics is an approach to economics in which the economy is considered to be a component of, and dependent upon, the natural world within which it resides and of which is it considered a part. ... A green tax shift is a fiscal policy which lowers the taxes on income including wages and profit, and raises taxes on consumption, particularly the unsustainable consumption of non-renewable resources. ... Greshams law is commonly stated as: When there is a legal tender currency, bad money drives good money out of circulation. or more accurately Money overvalued by the State will drive money undervalued by the State out of circulation. ... This article is about GDP in the context of economics. ... Measures of national income and output are used in economics to estimate the value of goods and services produced in an economy. ... The Gross value added is GDP - taxes on products + subsidies on products = GVA GVA + taxes on products - subsidies on products = GDP See also Measures of national income and output External links GVA - Gross Value Added ... Growth accounting is a set of theories used in economics to explain economic growth. ... Jane Butzner Jacobs (born May 4, 1916) is a writer, activist, and city aficionado. ...

H

There are very few or no other articles that link to this one. ... The Harris-Todaro Model is an economic model used in development economics or welfare economics to explain some of the issues in rural-urban migration. ... In economics, hedonic regression, or more generally hedonic demand theory, is a method of estimating demand or prices. ... In economics, the Herfindahl index, also known as Herfindahl-Hirschman Index or HHI, is a measure of the size of firms in relationship to the industry and an indicator of the amount of competition among them. ... The Historical school of economics was a mainly German school of economic thought which held that a study of history was the key source of knowledge about human actions and economic matters, since economics would be culture-specific and not generalizable over space and time. ... It has been suggested that History of economics be merged into this article or section. ... Family and consumer sciences, or home economics, is an academic discipline concerning consumer science, nutrition, cooking, parenting, interior decoration, textiles, gardening, and other subjects related to home management. ... Homo economicus, or Economic man, is the concept in some economic theories of man (that is, a human) as a rational and self-interested actor who desires wealth, avoids unnecessary labor, and has the ability to make judgments towards those ends. ... Goods or services that are highly substitutable. ... Hotellings law is an observation in economics that in many markets it is rational for producers to make their products as similar as possible. ... Human capital is a way of defining and categorizing the skills and abilities as used in employment and as they otherwise contribute to the economy. ... Human development theory is an economic theory that merges older ideas from ecological economics, sustainable development, welfare economics, and feminist economics. ... Certain figures in this article use scientific notation for readability. ...

I

In economic theory, imperfect competition, is the competitive situation in any market where the conditions necessary for perfect competition are not satisfied. ... An implicit contract refers to a transaction or relationship that is conducted without formal contract. ... Import substitution industrialization (also called ISI) is a trade and economic policy based on the premise that a developing country should attempt to substitute products which it imports, mostly finished goods, with locally produced substitutes. ... In economics, the theory of imputation, first expounded by Friedrich von Wieser, maintains that factor prices are determined by output prices. ... For the record label, see Incentive Records. ... Income, generally defined, is the money that is received as a result of the normal business activities of an individual or a business. ... Consumer theory relates preferences, indifference curves and budget constraints to consumer demand curves. ... In economics, the income elasticity of demand measures the responsiveness of the quantity demanded of a good to the income of the people demanding the good. ... Income inequality metrics or income distribution metrics are techniques used by economists to measure the distribution of income among the participants in a particular economy, such as that of a specific country or of the world in general. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Fiscal policy Spending   Deficit   Debt Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Banking   Regulation        An income tax is a tax levied on the financial income... In economics, income velocity of money is the number of times an individual unit of currency turns over (i. ... An indifference curve is a graph showing different bundles of goods, each measured as to quantity, to which a consumer is That is, at each point on the curve, the consumer has no preference for one bundle over another, as they render the same level of satisfaction (utility) for the... Individual capital comprises inalienable or personal traits of persons, tied to their bodies and available only through their own free will, such as skill, creativity, enterprise, courage, capacity for moral example, non-communicable wisdom, invention or empathy, non-transferable personal trust and leadership. ... Induced demand is the phenomenon that after supply increases, more of a good is consumed. ... Industrial organization is the field of economics that studies the behavior of firms, the structure of markets and of their interactions. ... An industrial policy is any government regulation or law that encourages the ongoing operation of, or investment in, a particular industry. ... A Watt steam engine, the steam engine that propelled the Industrial Revolution in Britain and the world. ... A factory in Ilmenau (Germany) around 1860 Industrialisation (also spelled Industrialization) or an Industrial Revolution is a process of social and economic change whereby a human group is transformed from a pre-industrial society (an economy where the amount of capital accumulated per capita is low) to an industrial one... In consumer theory, an inferior good is one for which demand decreases when income rises, unlike the more common normal goods, for which the opposite is observed. ... This page is on the topic of price inflation in economics. ... Information economics is a branch of microeconomic theory (classified under JEL code D8) that studies how information affects economic decisions. ... Infrastructural capital refers to any physical means of production or means of protection beyond that which can be gathered or found directly in nature, i. ... Input-output economics was developed by Wassily Leontief. ... Instructional capital is a term used in educational administration, to reflect capital resulting from investment in producing learning materials. ... For other senses of this word, see interest (disambiguation). ... The Interest Rate Parity is the basic identity that relates interest rates and exchange rates. ... Intermediate technology is infrastructural capital that is at least an order of magnitude more expensive than that prevalent in a developing nation but also at least an order of magnitude less expensive than that prevalent in a developed nation offering aid. ... International trade is the exchange of goods and services across international boundaries or territories. ... The United Nations launched the International Year of Microcredit on November 18, with the purposes of reducing poverty and hunger and improving health and education. ... Intertemporal equilibrium is the assertion that the economy at any one time is in disequilibrium, and that it is only when looking at it over the long term that it is in equilibrium. ... Intertemporal choice is the study of the relative value people assign to two or more payoffs at different points in time. ... Invest redirects here. ... An investment policy is any government regulation or law that encourages or discourages foreign investment in the local economy, e. ... Please wikify (format) this article or section as suggested in the Guide to layout and the Manual of Style. ... For other use of Invisible Hand, please see Invisible hand (disambiguation) The invisible hand is a metaphor coined by the economist Adam Smith to illustrate how those who seek wealth by following their individual self-interest, stimulate the economy as a secondary effect and thus assist society as a whole. ... Islamic economics is economics in accordance with Islamic law. ... An isoquant map where Q3 > Q2 > Q1. ... The IS curve moves to the right, causing higher interest rates and expansion in the real economy (real GDP). ... An Eighth Hour, part of the local currency system of Ithaca, NY. Ithaca Hours is a local currency in Ithaca, New York. ...

J

Job hunting is the act of looking for employment, possibly due to unemployment. ... Pricing for joint products is a little more complex that pricing for a single product. ... The just price is a theory of ethics in economics which attempted to set standards of fairness in financial transactions. ...

K

Kaldor-Hicks efficiency is a type of economic efficiency that occurs only if the economic value of social resources is maximized. ... This article includes a list of works cited or a list of external links, but its sources remain unclear because it lacks in-text citations. ... Knowledge-Based Economy (KBE) deals with a globalized economic environment that has these properties, at the least: emphasis on human talent and the influence of education, entrepreneurial focus, recognition of the importance of life-long learning, advanced techniques in regard to operational aspects, and a fiscal and regulatory framework that... The Keynesian Formula, developed by the British economist John Maynard Keynes. ...

L

Labour economics seeks to understand the functioning of the market for labour. ... In classical economics and all micro-economics labour is one of three factors of production, the others being land and capital. ... Labour economics seeks to understand the functioning of the market for labour. ... The labor theory of value (LTV) is a theory in classical economics concerning the value of an exchangeable good or service. ... This article does not cite any references or sources. ... Laissez-faire is short for laissez faire, laissez passer, a French phrase meaning to let things alone, let them pass. First used by the eighteenth century Physiocrats as an injunction against government interference with trade, it is now used as a synonym for strict free market economics. ... Land in economics comprises all naturally occurring resources whose supply is inherently fixed (i. ... Land value taxation (LVT), or site value taxation, is the policy of raising state revenues by charging each landholder a portion of the value of a site or parcel of land that would exist even if that site had no improvements. ... Law and economics, or economic analysis of law is an approach to legal theory that applies methods of economics to law. ... In economics, the legal origins theory states that many aspects of a countrys economic state of development are the result of their legal system, most of all where a particular country received its law from. ... A Limit Price is the price set by a monopolist to discourage economic entry into a market. ... This is a list of notable recessions, depressions and downturns. ... The following list of scholarly journals in economics is not comprehensive, as there are hundreds currently published. ... Living wage refers to the minimum hourly wage necessary for a person to achieve a basic standard of living. ... In economics, a local currency, in its common usage, is a currency not backed by a national government (and not legal tender), and intended to trade only in a small area. ... Local purchasing is a preference to buy locally produced goods and services. ... Community-based economics or just community economics encourages local substitution and a rejection of outside energy subsidy and coercion. ... The Lorenz curve is a graphical representation of the cumulative distribution function of a probability distribution; it is a graph showing the proportion of the distribution assumed by the bottom y% of the values. ... A low-carbon economy is an economy in which carbon dioxide emissions from the use of carbon based fuels (coal, oil and gas) are significantly reduced. ... The Lucas Critique, named for Robert Lucass work on macroeconomic policymaking, says that its naive to try to predict the effect of a policy experiment based purely on correlations in historical data, especially high-level aggregated historical data. ...

M

Circulation in macroeconomics Macroeconomics is a branch of Economics that deals with the performance, structure, and behavior of the economy as a whole. ... Managerial economics (also called business economics), is a branch of economics that applies microeconomic analysis to specific business decisions. ... In economics and finance, marginal cost is the change in total cost that arises when the quantity produced changes by one unit. ... The marginal theory of value asserts that the economic value of an object or service is set by the consumers marginal utility. ... In economics, the marginal rate of substitution (MRS for short) is the rate at which consumers are willing to give up units of one good in exchange for more units of another good. ... In microeconomics, Marginal Revenue (MR) is the extra revenue that an additional unit of product will bring a firm. ... In economics, marginal utility is the additional utility (satisfaction or benefit) that a consumer derives from an additional unit of a commodity or service. ... Marginalism is the use of marginal concepts within economics. ... In economics, a muppet is a theoretical model in which buyers and sellers interact to optimize certain variables such as utility or profit. ... A market anomaly (or inefficiency) is a price distortion on a financial market. ... In economics, market concentration is a function of the number of firms and their respective shares of the total production (alternatively, total capacity or total reserves) in a market. ... A market economy (also called a free market economy or a free enterprise economy) is an economic system in which the production and distribution of goods and services take place through the mechanism of free markets guided by a free price system. ... Market failure is a term used by economists to describe the condition where the allocation of goods and services by a market is not efficient. ... In microeconomics, the main criteria by which one can distinguish between different market forms are: the number and size of producers and consumers in the market, the type of goods and services being traded, and the degree to which information can flow freely. ... In economics, market power is the ability of a firm to alter the market price of a good or service. ... Market share, in strategic management and marketing, is the percentage or proportion of the total available market or market segment that is being serviced by a company. ... A market system is any systematic process enabling many market players to bid and ask: helping bidders and sellers interact and make deals. ... In economics, a market is transparent if much is known by many about what products and/or services are available at what price and where. ... Marxian economics refers to a body of economic thought stemming from the work of Karl Marx. ... Mathematical economics is the sub-field of economics that explores the mathematical aspects of economic systems. ... Means of production (abbreviated MoP; German: Produktionsmittel), also called means of labour are the materials, tools and other instruments used by workers to make products. ... Measures of national income and output are used in economics to estimate the value of goods and services produced in an economy. ... The well-being or quality of life of a population is an important concern in economics and political science. ... In economics a mechanism is a set of rules designed to bring about a certain outcome through the interaction of a number of agents each of whom maximizes his or her own utility. ... A medium of exchange is an intermediary used in trade to avoid the inconveniences of a pure barter system. ... A concept first named by Richard Thaler (1980), mental accounting attempts to describe the process whereby people code, categorise and evaluate economic outcomes. ... In economics, menu costs are the costs to firms of updating menus, price lists, brochures, and other materials when prices change in an economy. ... Mercantile redirects here. ... Merger simulation is a commonly used technique when analyzing potential welfare costs and benefits of mergers between firms. ... Methodenstreit is a German term referring to an intellectual controversy or debate over epistemology, research methodology, or the way in which academic inquiry is framed or pursued. ... Methodological individualism is a philosophical orientation toward explaining broad society-wide developments as the accumulation of decisions by individuals. ... Microeconomics (or price theory) is a branch of economics that studies how individuals, households, and firms make decisions to allocate limited resources,[1] typically in markets where goods or services are being bought and sold. ... The minimum wage is the minimum rate a worker can legally be paid (usually per hour) as opposed to wages that are determined by the forces of supply and demand in a free market. ... A missing market is a situation in microeconomics where a competative market allowing the exchange of a commodity would be Pareto-efficient, but no such market exists. ... A diagram of the IS/LM model In economics, a model is a theoretical construct that represents economic processes by a set of variables and a set of logical and quantitative relationships between them. ... A model in macroeconomics is designed to simulate the operation of a national or international economy in terms of factors including the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices. ... Capital Market Line Modern portfolio theory (MPT) proposes how rational investors will use diversification to optimize their portfolios, and how a risky asset should be priced. ... The Modigliani-Miller theorem (of Franco Modigliani, Merton Miller) forms the basis for modern thinking on capital structure. ... Monetarism is a set of views concerning the determination of national income and monetary economics. ... It has been suggested that monetary theory be merged into this article or section. ... Monetary Reform is accounting reform that reaches more deeply into banking central bank, money supply and monetary policy. ... For other uses, see Money (disambiguation). ... In macroeconomics, money supply (monetary aggregates, money stock) is the quantity of currency and money in bank accounts in the hands of the non-bank public available within the economy to purchase goods, services, and securities. ... This article is about the economics of markets dominated by a single seller. ... In economics, a firm is said to reap monopoly profits when a lack of viable market competition allows it to set its prices above the equilibrium price for a good or service without losing profits to competitors. ... In economics, a monopsony (from Ancient Greek μόνος (monos) single + ὀψωνία (opsōnia) purchase) is a market form with only one buyer, called monopsonist, facing many sellers. ... This section is studied by Argagui monopoli In law and economics, moral hazard is the name given to the risk that one party to a contract can change their behaviour to the detriment of the other party once the contract has been concluded. ... Ethical consumerism is the practice of boycotting products which a consumer believes to be associated with unnecessary exploitation or other unethical behaviour. ... In economics, the multiplier effect refers to the idea that an initial spending rise can lead to even greater increase in national income. ...

N

The term NAIRU is an acronym for Non-Accelerating Inflation Rate of Unemployment. ... In game theory, the Nash equilibrium (named after John Forbes Nash, who proposed it) is a kind of solution concept of a game involving two or more players, where no player has anything to gain by changing only his or her own strategy unilaterally. ... Measures of national income and output are used in economics to estimate the value of goods and services produced in an economy. ... National Income and Product Accounts (NIPA) use double entry accounting to report the monetary value and sources of output produced in a country and the distribution of incomes that production generates. ... Natural capital, as described in the book Natural Capitalism, is a metaphor for the mineral, plant, and animal formations of the Earths biosphere when viewed as a means of production of oxygen, water filter, erosion preventer, or provider of other ecosystem services. ... Natural capitalism is a set of trends and economic reforms to reward energy and material efficiency - and remove professional standards and accounting conventions that prevent such efficiencies. ... Natural gross domestic product (natural GDP) is defined as the optimal production capacity of a territorys economy given natural and institutional constraints. ... In economics, the term natural monopoly is used to refer to two different things. ... Natures services is an umbrella term for the ways in which nature benefits humans, particularly those benefits that can be measured in economic terms. ... Neoclassical economics refers to a general approach (a metatheory) to economics based on supply and demand which depends on individuals (or any economic agent) operating rationally, each seeking to maximize their individual utility or profit by making choices based on available information. ... In economics, the Neoclassical Revolution was the emergence of marginal theory of value as the central explanation for explaining the origin of value. ... Neo-classical growth model is a term used to sum up the contributions by various authors in the framework of neoclassical economics. ... John Maynard Keynes provided the framework for synthesizing a host of economic ideas present between 1900 and 1940, and that synthesis bears his name. ... For the school of international relations, see Neoliberalism (international relations). ... A network effect is a characteristic that causes a good or service to have a value to a potential customer which depends on the number of other customers who own the good or are users of the service. ... The network effect causes a good or service to have a value to a potential customer dependent on the number of customers already owning that good or using that service. ... Neuroeconomics combines neuroscience, economics, and psychology to study how we make choices. ... New Classical Economics emerged as a school in Macroeconomics during the 1970s. ... New Keynesian economics developed partly in response to new classical economics. ... The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel (in Swedish Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is a prize awarded each year for outstanding intellectual contributions in the field of economics. ... Zero-sum describes a situation in which a participants gain (or loss) is exactly balanced by the losses (or gains) of the other participant(s). ... In economics, normal goods are any goods for which demand increases when income increases. ...

O

Graph of US quarterly data (not annualized) from 1947 through 2002 produces the equation: %Change GNP = .856 - 1. ... This article does not cite any references or sources. ... An oligopsony is a market form in which the number of buyers are small while the number of sellers in theory could be large. ... Operations Research or Operational Research (OR) is an interdisciplinary branch of mathematics which uses methods like mathematical modeling, statistics, and algorithms to arrive at optimal or good decisions in complex problems which are concerned with optimizing the maxima (profit, faster assembly line, greater crop yield, higher bandwidth, etc) or minima... In economics, opportunity cost, or economic cost, is the cost of something in terms of an opportunity forgone (and the benefits which could be received from that opportunity), or the most valuable forgone alternative (or highest-valued option forgone), i. ... It has been suggested that Operating cost be merged into this article or section. ...

P

The parable of the broken window was created by Frédéric Bastiat in his 1850 essay That Which is Seen and That Which is Not Seen to illuminate the notion of hidden costs ( opportunity costs). ... Pareto efficiency, or Pareto optimality, is an important notion in neoclassical economics with broad applications in game theory, engineering and the social sciences. ... Participatory economics, often abbreviated parecon, is a proposed economic system that uses participatory decision making as an economic mechanism to guide the allocation of resources and consumption in a given society. ... The Peltzman Effect is the hypothesized tendency of people to react to a safety regulation by increasing other risky behavior, offsetting some or all of the benefit of the regulation. ... Perfect competition is an economic model that describes a hypothetical market form in which no producer or consumer has the market power to influence prices. ... Petrocurrency is the currency of a country with oil to export, for instance, Saudi Arabian riyals. ... Phillips curve The Phillips curve is a historical inverse relation and tradeoff between the rate of unemployment and the rate of inflation in an economy. ... The Policy Ineffectiveness Proposition (PIP) is a new classical theory proposed in 1976 by Thomas J. Sargent and Neil Wallace based upon the theory of rational expectations. ... The Politics series Politics Portal This box:      Political economy was the original term for the study of production, the acts of buying and selling, and their relationships to laws, customs and government. ... A boy from an East Cipinang trash dump slum in Jakarta, Indonesia shows what he found. ... The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. ... Preference (or taste) is a concept, used in the social sciences, particularly economics. ... Price discrimination exists when sales of identical goods or services are transacted at different prices from the same provider. ... In economics and business studies, the price elasticity of demand (PED) is an elasticity that measures the nature and degree of the relationship between changes in quantity demanded of a good and changes in its price. ... Price points are prices for which demand is relatively high. ... The price specie flow mechanism is a logical mechanism created by David Hume which dispeled the Mercantilist (1500-1776) notion that a nation can have a continuously favorable balance of trade. ... In economics, the principal-agent problem treats the difficulties that arise under conditions of incomplete and asymmetric information when a principal hires an agent. ... Principles of Economics (Grundsätze der Volkswirtschaftslehre) is a book by economist Carl Menger which is credited with the founding of the Austrian School of economics. ... Will the two prisoners cooperate to minimize total loss of liberty or will one of them, trusting the other to cooperate, betray him so as to go free? In game theory, the prisoners dilemma (sometimes abbreviated PD) is a type of non-zero-sum game in which two players... Product bundling is a marketing strategy that involves offering several products for sale as one combined product. ... This article or section does not cite any references or sources. ... In microeconomics, a production function expresses the relationship between an organizations inputs and its outputs. ... In economics, the production possibility frontier (the PPF, also called the production possibilities curve (PPC) or the “transformation curve”) is a graph that depicts the trade-off between any two items produced. ... In microeconomics, Production is simply the conversion of inputs into outputs. ... Productivism is the (purported) ideology that measurable economic productivity and growth is the purpose of human organization and perhaps the purpose of life itself. ... In economics, profit maximization is the process by which a firm determines the price and output level that returns the greatest profit. ... A property right is the exclusive authority to determine how a resource is used, whether that resource is owned by government or by individuals[1]. All economic goods have a property rights attribute. ... Prospect theory was developed by Daniel Kahneman and Amos Tversky in 1979 as a psychologically realistic alternative to expected utility theory. ... Public choice theory is a branch of economics that studies the decision-making behavior of voters, politicians and government officials from the perspective of economic theory, namely game theory and decision theory. ... A public bad, in green economics, is a good that produces socially undesirable results. ... This page is a candidate to be copied to Wiktionary. ... In economics, a public good is a good that is non-rivalrous and non-excludable. ... Gross domestic product (by purchasing power parity) in 2006 The purchasing power parity (PPP) theory was developed by Gustav Cassel in 1920. ...

Q

  • Quasi-market

A quasi-market is a public sector institutional structure that is designed to reap the efficiency gains of free markets without losing the equity benefits of traditional systems of public administration and financing. ...

R

Target rate of return pricing is a pricing method used almost exclusively by market leaders or monopolists. ... Rational choice theory assumes human behavior is guided by instrumental reason. ... Rational expectations is a theory in economics originally proposed by John F. Muth (1961) and later developed by Robert E. Lucas Jr. ... Rational pricing is the assumption in financial economics that asset prices (and hence asset pricing models) will reflect the arbitrage-free price of the asset as any deviation from this price will be arbitraged away. This assumption is useful in pricing fixed income securities, particularly bonds, and is fundamental to... Ronald Reagan, the US president from which Reaganomics derives its name Reaganomics (a blend of Reagan and economics, coined by radio broadcaster Paul Harvey) is a term that has been used to both describe and decry free market advocacy economic policies of U.S. President Ronald Reagan, who served from... // Business Cycles If we were to take snapshots of an economy at different points in time, no two photos would look alike. ... Real estate economics is the application of economic techniques to real estate markets. ... A real estate investor is someone who actively or passively invests in real estate. ... Nominal value is the value of anything expressed in money of the day, versus real value which removes the effect of inflation. ... In macroeconomics, the definition of recession is a decline in any countrys Gross Domestic Product (GDP), or negative real economic growth, for two or more successive quarters of a year. ... Renovation at the Parthenon Refurbishment (restoration) is the process of major maintenance or minor repair of an item, either aesthetically or mechanically. ... In statistics, regression analysis examines the relation of a dependent variable (response variable) to specified independent variables (explanatory variables). ... // History The notion of a representative agent is a hypothetical construct in economics. ... A reserve currency (or anchor currency) is a currency which is held in significant quantities by many governments and institutions as part of their foreign exchange reserves. ... The field of resource economics includes the study of environmental economics, agricultural production and marketing, bioeconomics, community economic development, resource utilization, and environmental policy. ... Ricardian equivalence, or the Barro-Ricardo equivalence proposition, is a controversial economic theory which suggests that government budget deficits do not affect the total level of demand in an economy. ... A risk premium is the minimum difference between the expected value of an uncertain bet that a person is willing to take and the certain value that he is indifferent to. ... A risk-free bond is one that pays out principle plus interest in a given length of time with absolute certainty. ... The risk-free interest rate is the interest rate that it is assumed can be obtained by investing in financial instruments with no risk. ... Road pricing is a term that refers to the charging for the use of streets and roads. ... A Robin Hood effect is an economic occurance where income is redistributed so that economic inequality is reduced. ...

S

Safe trade is a concept advocated by Greenpeace, some indigenous peoples (particularly those who feel threatened by the imposition of a monoculture) and by some elements of the anti-globalization movement. ... A sales tax is a consumption tax charged at the point of purchase for certain goods and services. ... In common usage, saving generally means putting money aside, for example, by putting money in the bank or investing in a pension plan. ... In economics, scarcity is defined as a condition of limited resources, where society does not have sufficient resources to produce enough to fulfill subjective wants. ... In economics, search theory (or just search) is the study of an individuals optimal strategy when facing a series of potential opportunities of random quality and a cost of delaying choice. ... Seven-generation sustainability is the tenet that all decisions should be made with consideration for the effect they will have on the next seven generations to follow us. ... In economics, self-revelation is a property of a mechanism where each agent maximizes his or her utility (or expected utility) by revealing his or her true type. ... In economics, shock therapy refers to the sudden release of price and currency controls, withdrawal of state subsidies, and immediate trade liberalization within a country. ... In economics, more precisely in contract theory, signaling is the idea that one party (termed the agent) conveys some meaningful information about itself to another party (the principal). ... It has been suggested that Prebish-Singer be merged into this article or section. ... Slave redirects here. ... Social capital is a core concept in business, economics, organizational behaviour, political science, and sociology, defined as the advantage created by a persons location in a structure of relationships. ... Social cost, in economics, is the total of all the costs associated with an economic activity. ... Social Credit (often called Socred for short) is an economic ideology and a social movement which started in the early 1920s. ... ... A social welfare function, in welfare economics, is a function which gives a measure of the material welfare of society, given a number of economic variables as inputs. ... Socialism refers to a broad array of doctrines or political movements that envisage a socio-economic system in which property and the distribution of wealth are subjfuck grapesect to control by the community[1] for the purposes of increasing social and economic equality and cooperation. ... Socialist economics is a broad, and sometimes controversial, term. ... Socioeconomics or Socio-economics is the study of the relationship between economic activity and social life. ... In economics, the Solow growth model is a dynamic model of economic growth. ... Specialization is the separation of tasks within a system. ... It has been suggested that this article or section be merged into human resources. ... This article uses excessive clichés and jargon. ... A standard of deferred payment is the accepted way (in a given market) to settle a debt. ... The standard of living refers to the quality and quantity of goods and services available to people and the way these services and goods are distributed within a population. ... In economics and game theory, the decisions of two or more players are called strategic complements if they mutually reinforce one another, and they are called strategic substitutes if they mutually offset one another. ... To act as a store of value, a commodity, a form of money or financial capital must be able to be reliably saved, stored, and retrieved - and be predictably useful when it is so retrieved. ... Subgame perfect equilibrium is an economics term used in game theory to describe an equilibrium such that players strategies constitute a Nash equilibrium in every subgame of the original game. ... In economics, a subsidy is generally a monetary grant given by a government to lower the price faced by producers or consumers of a good, generally because it is considered to be in the public interest. ... Like most farmers in Sub-Saharan Africa, this Cameroonian man cultivates at the subsistence level. ... In economics, one kind of good (or service) is said to be a substitute good for another kind insofar as the two kinds of goods can be consumed or used in place of one another in at least some of their possible uses. ... Consumer theory relates preferences, indifference curves and budget constraints to consumer demand curves. ... It has been suggested that Bygones principle be merged into this article or section. ... Sunspot equilibrium is a concept in economics invented by David Cass and Karl Shell. ... In economics, sunspots (sometimes a sunspot) usually refers to an extrinsic random variable, that is, a random variable that does not directly effect economic fundamentals (endowments, preferences, and technology). ... In mathematics, a function is supermodular iff Where denotes the component-wise maximum and the component-wise minimum of and . ... The supply and demand model describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand). ... Supply-side economics is a school of macroeconomic thought that argues that economic growth can be most effectively managed using incentives for people to produce (supply) goods and services, such as adjusting income tax and capital gains tax rates. ... Surplus value, according to Marxism, is unpaid labour that is extracted from the worker by the capitalist, and serves as the basis for capitalist accumulation. ... anyone doing this homework. ... Sweatshop is a pejorative term used to describe a manufacturing facility where working conditions fall short of contemporary human-rights standards. ...

T

This article does not cite any references or sources. ... “Taxes” redirects here. ... The tax, tariff and trade laws of a political region, state or trade bloc determine which forms of consumption and production tend to be encouraged or discouraged. ... The Taylor rule is a modern monetary rule proposed by economist John B. Taylor that would stipulate exactly how much the Federal Reserve should change the interest rates in response to real divergences of real GDP from potential GDP and divergences of actual rates of inflation from a target rate... Technostructure is a term coined by the economist John Kenneth Galbraith in The New Industrial State (1967) to describe the group of technicians within an enterprise (or an administrative body) with considerable influence and control on its economy. ... The Theory of Moral Sentiments written by Adam Smith in 1759, was one of the most important works in the theory of capitalism. ... The Ithaca Hour is an example of time-based currency. ... Time preference is the economists assumption that a consumer will place a premium on enjoyment nearer in time over more remote enjoyment. ... Total cost of ownership (TCO) is a financial estimate designed to help consumers and enterprise managers assess direct and indirect costs commonly related to software or hardware. ... It has been suggested that Commerce be merged into this article or section. ... A trade bloc is a large free trade area or free trade area formed by one or more tax, tariff and trade agreements. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Fiscal policy Spending   Deficit   Debt Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Banking   Regulation        A trade pact is a wide ranging tax, tariff and trade... Jane Butzner Jacobs (born May 4, 1916) is a writer, activist, and city aficionado. ... Trade facilitation looks at how procedures and controls governing the movement of goods across national borders can be improved to reduce associated cost burdens and maximise efficiency while safeguarding legitimate regulatory objectives. ... In economics and related disciplines, a transaction cost is a cost incurred in making an economic exchange. ... In political science and economics, a transfer payment is a payment of money from a government or any other organization to an individual, a group or another order of government for which no good or service is directly required in return. ... Transfer pricing refers to the pricing of goods and services within a multi-divisional organization, particularly in regard to cross-border transactions. ... In Karl Marxs economics the transformation problem is the problem of finding a general rule to transform the values of commodities (based on labour according to his labour theory of value) into the competitive prices of the marketplace. ... Transport economics is a cross-disciplinary study linking civil engineering and economics. ... The Tragedy of the Commons is a type of social trap, often economic, that involves a conflict over resources between individual interests and the common good. ... The tragedy of the anticommons occurs when rational individuals (acting separately) collectively waste a given resource by under-utilizing it. ... The triple bottom line, measuring organizational (and societal) success; economic, environmental and social. ... Trust is the belief in the good character of one party, presumed to seek to fulfill policies, ethical codes, law and their previous promises. ... Tying is the practice of making the sale of one good (the tying good) to the de facto or de jure customer conditional on the purchase of a second distinctive good (the tied good). ... A two-part tariff is a pricing technique in which the price of a product or service is composed of two parts. ...

U

In economics, utility is a measure of the relative happiness or satisfaction (gratification) gained. ... In microeconomics, the utility maximization problem is the problem consumers face: how should I spend my money in order to maximize my utility? Suppose their consumption set has L commodities. ... This article discusses utilitarian ethical theory. ... The UN Human Development Index (HDI) measures poverty, literacy, education, life expectancy, and other factors. ... Uneconomic growth, in welfare economics, human development theory and some forms of ecological economics, is economic growth which reflects or creates a decline in human well-being. ... This article does not cite any references or sources. ... A unit of account is a standard numerical unit of measurement for the market value of goods, services, and other transactions. ... The U.S. public debt, commonly called the national debt or the gross federal debt, is the amount of money owed by the United States federal government. ...

V

In general, the economic value of something is how much a product or service is worth to someone relative to other things (often measured in money). ... In economics, value of Earth is the ultimate in ecosystem valuation, and important to value of life calculations. ... FUCKING BULLSHIT!! The value of life is an economic or moral value assigned to life in general, or to specific living organisms. ... Value added tax (VAT) is a sales tax levied on the sale of goods and services. ... A commodity is a Veblen good if peoples preference for buying it increases as a direct function of its price. ... In many parts of economics there is an assumption that a complex system of determinants will tend to lead to a state of equilibrium. ...

W

A wage is the amount of money paid for some specified quantity of labour. ... A wage is the amount of money paid for some specified quantity of labour. ... For the business meaning, see Wealth (economics). ... Wealth effect is the name in economics for spending rising with wealth. ... Adam Smith An Inquiry into the Nature and Causes of the Wealth of Nations is the magnum opus of the Scottish economist Adam Smith, published on March 9, 1776 during the Scottish Enlightenment. ... Welfare economics is a branch of economics that uses microeconomic techniques to simultaneously determine the allocational efficiency of a macroeconomy and the income distribution associated with it. ...

X

  • X-efficiency

In economics, x-efficiency is the effectiveness with which a given set of inputs are used to produce outputs. ...

Y

The yield of a financial instrument, usually a debt instrument, is the rate of return the holder earns on that instrument. ...

Z

Zero-sum describes a situation in which a participants gain (or loss) is exactly balanced by the losses (or gains) of the other participant(s). ... Geographical pricing, in marketing, is the practice of modifying a basic list price based on the geographical location of the buyer. ...

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