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This glossary contains non-technical descriptions of all the terms in Economics for Everyone highlighted in SMALL CAPITALS. Italicized terms within the definitions are themselves defined elsewhere in the glossary, for cross-reference. Absolute Poverty: Poverty defined with respect to an absolute material standard of living.
By Jim Stanford. Canadian Centre for Policy Alternatives, 2015 Non-commercial use and reproduction, with appropriate citation, is authorized. This glossary contains non-technical descriptions of all the terms in Economics for Everyone that are highlighted in SMALL CAPITALS.
Free market. This occurs when resources are allocated by market forces of supply and demand without government intervention. Game theory . Game theory is an approach to oligopoly in which each firm’s strategy depends on its expectations of how the others in the market will behave. Income elasticity of demand .
This document provides definitions for economic terms used in core economics. It defines over 100 terms related to concepts like markets, trade, macroeconomics, inflation, and more.
economic growth A measure of how much an economy produces and how much the income per head increases over a period of time. economy The nation, seen or considered in terms of its business activity. market economy A system which relies on the market mechanism, i.e. interaction between supply and demand, to determine the allocation of resources.
The glossary lists alphabetically all of the key terms from Economics, Seventh Edition, which you can use to revise and test your understanding of important concepts. This is the Online Learning Centre for Economics, 7e, by Begg, Dornbusch and Fischer, published by McGraw-Hill.
1 dzień temu · Covering all aspects of economics including economic theory and policy, applied microeconomics and macroeconomics, labour economics, public economics and public finance, monetary economics, and environmental economics, this is the essential reference work in this area.
