Ec44

LATEST ARTICLES ( 52 )

• Dictionary - Negative Consumption Externality

  DefinitionThe negative effects on unrelated third parties that originate during the consumption a good or service.ExampleAn example for a negative consumption... Read more

  Posted on 29 September 2014 BUSINESS

• Dictionary - Deadweight Loss

  DefinitionThe decrease in overall social welfare in an economy that results from a market distortion. A deadweight loss occurs whenever there is no efficient... Read more

  Posted on 28 September 2014 BUSINESS

• Dictionary - Economic Growth

  DefinitionThe increase in the amount of goods and services that are produced in an economy over a certain period of time. Economic growth can be measured in... Read more

  Posted on 26 September 2014 BUSINESS

• Dictionary - Fixed Costs

  DefinitionCosts that are constant irrespective of the quantity of output produced. Fixed costs have to be paid even if production is zero. Read more

  Posted on 25 September 2014 BUSINESS

• Dictionary - Gross Domestic Product (GDP)

  DefinitionThe monetary value of all final goods and services produced within a country over a certain period of time (most commonly a year). Read more

  Posted on 24 September 2014 BUSINESS

• Dictionary - Human Capital

  DefinitionThe skills, talent, and knowledge that the employees of a company possess, measured in terms of economic value to the employer. Read more

  Posted on 22 September 2014 BUSINESS

• Dictionary - Inflation

  DefinitionThe rate at which the overall price level in an economy increases. Inflation causes a decrease in the purchasing power of money.ExampleSuppose the... Read more

  Posted on 21 September 2014 BUSINESS

• Dictionary - J Curve

  DefinitionA graphic representation of the initial increase in a country's trade deficit after a deprecation of its currency. ExampleA deprecation of the local... Read more

  Posted on 20 September 2014 BUSINESS

• Dictionary - K-Percent Rule

  DefinitionA monetary theory (postulated by Milton Friedman) that states that in order to control inflation in the long run, central banks should grow the money... Read more

  Posted on 19 September 2014 BUSINESS

• Dictionary - Liquidity

  DefinitionThe degree to which an asset can be converted into the common medium of exchange of an economy without affecting its valuation. Read more

  Posted on 18 September 2014 BUSINESS

• Dictionary - Macroeconomics

  DefinitionThe study of the economy on an aggregate level. Macroeconomics looks at economy-wide phenomena and the economy as a whole. Read more

  Posted on 18 September 2014 BUSINESS

• Dictionary - Tax Incidence

  DefinitionThe effect a tax has on the distribution of economic welfare. Tax Incidence describes how the burden of a tax is shared among producers and consumers... Read more

  Posted on 13 September 2014 BUSINESS