- Industry: Education
- Number of terms: 31274
- Number of blossaries: 0
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1. An input to be used in an activity, especially production. 2. A natural resource.
Industry:Economy
Action by a firm or group of firms to restrict entry by other firms, that is, to prevent other firms from selling their product or in their market. This is a restraint of competition and would normally be illegal under competition policy.
Industry:Economy
1. The use of an increased trade barrier in response to another country increasing its trade barrier, either as a way of undoing the adverse effects of the latter's action or of punishing it. 2. The formal procedure permitted under the GATT whereby a country may raise discriminatory tariffs above bound levels against a GATT member that has violated GATT rules and not provided compensation.
Industry:Economy
1. A reassessment of what something is worth, especially an upward reassessment. 2. Of an exchange rate, opposite of a devaluation. Thus, and appreciation.
Industry:Economy
1. In general use, this seems to be essentially the same as a budget deficit, but with attention given to the low level of revenue rather than to the high level of expenditure. 2. More precisely, this means a larger deficit (or smaller surplus) than had been budgeted for.
Industry:Economy
A specific factors model with a single specific factor in each industry and one mobile factor, named after two of the many who used this as the standard model of trade prior to the Heckscher-Ohlin Model. It extends the simple Ricardian Model by allowing the marginal product of labor to fall with output. It was revived by Jones (1971), Samuelson (1971), then merged with H-O by Mayer (1974), Mussa (1974), and Neary (1978).
Industry:Economy
1. Uncertainty associated with a transaction or an asset. 2. The probability of loss. Differs from definition 1 because "uncertainty" includes probability of gain as well.
Industry:Economy
1. The higher expected return (in the sense of mathematical expected value) that an uncertain asset must pay in order for risk averse investors to be willing to hold it. 2. The difference between the interest rate on a risky asset and that on a safe one. 3. In exchange markets the difference between the forward rate and the expected future spot rate.
Industry:Economy
1. The phasing out of measures that are not consistent with an agreement. 2. In the Uruguay Round, the agreement to remove all GATT-inconsistent trade-restricting and trade-distorting measures by the time negotiations were completed. See standstill.
Industry:Economy
