Home > Blossary: Economics

Category: Business

14 Terms

Created by: dnatalia

Number of Blossarys: 60

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Broadly speaking, a period of slow or negative economic growth, usually accompanied by rising unemployment. Economists have two more precise definitions of a recession. The first, which can be hard ...

Domain: Economy; Category: Economics Collected Term

Represents how the quantity of a product changes, as income for an individual or group changes. Formula: Ied = % change in qty demanded / % change in income. Income elasticity is positive for normal ...

Domain: Economy; Category: Economics

An opportunity cost that does not involve a monetary payment. Ex: opportunity cost of the entrepreneur's time / opportunity cost of the entrepreneur's funds that could have been invested elsewhere.

Domain: Economy; Category: Economics

1. A fall in the value of a country's currency on the exchange market, relative either to a particular other currency or to a weighted average of other currencies. The currency is said to depreciate. ...

Domain: Economy; Category: International economics Collected Term

1. In the balance of payments, or in any category of international transactions within it, the deficit is the sum of debits minus the sum of credits, or the negative of the surplus. 2. In the ...

Domain: Economy; Category: International economics Collected Term

“Neither a borrower nor a lender be,” wrote Shakespeare in “Hamlet”. Actually, the availability of debt, and the willingness to take it on, is a crucial ingredient of economic growth, because it ...

Domain: Economy; Category: Economics Collected Term

Court ordered or mutual agreement, between a financially troubled firm and its creditors, to reorganize its liabilities as a more feasible alternative to foreclosure or liquidation. Debt ...

Domain: Accounting; Category: General accounting Collected Term

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