Search results
Economic terms, from “absolute advantage” to “zero-sum game”, explained to you in plain English. A concept that helps to explain international trade.
This glossary of economics is a list of definitions containing terms and concepts used in economics, its sub-disciplines, and related fields. Also called resource cost advantage.
6 dni temu · A comprehensive dictionary of 2,500 economic terms with clear, concise definitions. It covers all aspects of economics, including theory, applied, public, monetary, environmental, and more.
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.
Economic Glossary is a list of over 2,000 common economic terms definitions. With our Economics dictionary, you look up economic definitions and increase your economic vocabulary.
The ability to produce an additional unit of a good or service at a lower opportunity cost relative to other nations. For example suppose there was an economics professor and a maid. Suppose the economics professor worked her way through school by cooking at diners and...
It is the total amount of demand for (or expenditure on) goods and services produced in the economy. See also: consumption, investment, government spending, exports, imports. The total output in an economy, across all sectors and regions. A description of who does what, the consequences of their actions, and who gets what as a result.
