- Industry: Education
- Number of terms: 31274
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A method used for displaying or manipulating economic models.
Industry:Economy
A change in a production function that alters the relationship between inputs and outputs. Normally it is understood to be an improvement in technology, or technological progress, and it is of interest in international economics for its implications for trade and economic welfare.
Industry:Economy
A difference in production functions, usually for the same industry compared between two countries, such that one country has higher output for any given input than the other.
Industry:Economy
A technological change that increases output for any given input.
Industry:Economy
1. The complete set of knowledge about how to produce in an economy at a point in time, including techniques of production that are available but not economically viable. 2. The set of production functions available to an economy. 3. Referring to industries that are experiencing, or recently have experienced, technological progress.
Industry:Economy
An amount held at a bank or other financial institution subject to a minimum time period, or term, before it can be withdrawn without penalty. Also called a time deposit.
Industry:Economy
A market restriction in the labor market, most often limits on wages and on the ability of firms to terminate workers.
Industry:Economy
A good the demand for which rises with income if relative prices do not change. Contrasts with inferior good.
Industry:Economy
A specification of the probabilities for each possible value of a random variable.
Industry:Economy
A financial contract that permits (but does not require) the buyer of the option to sell a commodity or financial instrument (perhaps a currency) to the seller of the option at a specified time and price.
Industry:Economy
