Economics
Scarcity, markets, incentives, production, policy and economic systems.
Areas within Economics
Macroeconomics
Whole-economy activity, inflation, growth and policy.
8 wordsMicroeconomics
Choices, prices, firms, consumers and individual markets.
8 wordsBehavioural economics
How psychology and context affect economic decisions.
0 wordsEconometrics
Statistical methods for analysing economic data.
0 wordsInternational economics
Trade, currencies and economic relationships between countries.
2 wordsPublic economics
Taxation, public spending, public goods and government intervention.
1 wordsGeneral economics
Specialist vocabulary classified under Economics.
80 wordsMicroeconomics
Consumers, firms, prices, incentives and market structure.
173 wordsMacroeconomics
Growth, inflation, unemployment, national output and macroeconomic policy.
331 wordsLabour economics
Employment, wages, labour supply, productivity and labour markets.
120 wordsPublic economics
Taxation, public spending, externalities and government intervention.
105 wordsInternational economics
Trade, exchange rates, global markets and cross-border economic relationships.
85 wordsDevelopment economics
Economic development, poverty, inequality and structural change.
134 wordsBehavioural economics
Psychological influences on economic decisions and behaviour.
85 wordsEconometrics
Statistical methods used to estimate and test economic relationships.
80 words120 featured terms
The database can contain more terms than shown here; this page prioritises the strongest mappings.
(economics) that part of the balance of payments recording a nation's outflow and inflow of financial securities
Consumptionnoun(economics) the utilization of economic goods to satisfy needs or in manufacturing; "the consumption of energy has increased steadily"
Economic consumptionnoun(economics) the utilization of economic goods to satisfy needs or in manufacturing; "the consumption of energy has increased steadily"
Economic sciencenounthe branch of social science that deals with the production and distribution and consumption of goods and services and their management
Economic theorynoun(economics) a theory of commercial activities (such as the production and consumption of goods)
Economicsnounthe branch of social science that deals with the production and distribution and consumption of goods and services and their management
Game theorynoun(economics) a theory of competition stated in terms of gains and losses among opposing players
Gresham's Lawnoun(economics) the principle that when two kinds of money having the same denominational value are in circulation the intrinsically more valuable m…
Macroeconomicsnounthe branch of economics that studies the overall working of a national economy
marginal utilitynoun(economics) the amount that utility increases with an increase of one unit of an economic good or service
Microeconomicsnounthe branch of economics that studies the economy of consumers or households or individual firms
Monopolynoun(economics) a market in which there are many buyers but only one seller; "a monopoly on silver"; "when you have a monopoly you can ask any price…
Monopsonynoun(economics) a market in which goods or services are offered by several sellers but there is only one buyer
Moral hazardnoun(economics) the lack of any incentive to guard against a risk when you are protected against it (as by insurance); "insurance companies are expo…
oligopolynoun(economics) a market in which control over the supply of a commodity is in the hands of a small number of producers and each one can influence p…
Political economynounthe branch of social science that deals with the production and distribution and consumption of goods and services and their management
Productionnoun(economics) manufacturing or mining or growing something (usually in large quantities) for sale; "he introduced more efficient methods of produc…
Productivitynoun(economics) the ratio of the quantity and quality of units produced to the labor per unit of time
Rent seekingnoun(economics) the theory that a person or firm seeks to make money by manipulating the economic environment rather than by making a profit through…
Rent-seekingnoun(economics) the theory that a person or firm seeks to make money by manipulating the economic environment rather than by making a profit through…
Spillovernoun(economics) any indirect effect of public expenditure
Theory of gamesnoun(economics) a theory of competition stated in terms of gains and losses among opposing players
Usancenoun(economics) the utilization of economic goods to satisfy needs or in manufacturing; "the consumption of energy has increased steadily"
Usenoun(economics) the utilization of economic goods to satisfy needs or in manufacturing; "the consumption of energy has increased steadily"
Use of goods and servicesnoun(economics) the utilization of economic goods to satisfy needs or in manufacturing; "the consumption of energy has increased steadily"
Utilitynoun(economics) a measure that is to be maximized in any situation involving choice
Accountnounan itemized statement of money owed for goods shipped or services rendered; "he paid his bill and left"; "send me an account of what I owe"
Advantagenounbenefit resulting from some event or action; "it turned out to my advantage"; "reaping the rewards of generosity"
Aggregatenounmaterial such as sand or gravel used with cement and water to make concrete, mortar, or plaster
aggregate demandnounIn macroeconomics, the total demand for final goods and services in the economy at a given time and price level.; "The decline in Japan has been…
Aidnoungift of money or other material help to support a person or cause; "economic assistance to depressed areas"
Alienadjectivenot contained in or deriving from the essential nature of something; "an economic theory alien to the spirit of capitalism"; "the mysticism so f…
Architecturenoun(computer science) the structure and organization of a computer's hardware or system software; "the architecture of a computer's system software"
Assistancenoungift of money or other material help to support a person or cause; "economic assistance to depressed areas"
Aversionnounthe act of turning yourself (or your gaze) away; "averting her gaze meant that she was angry"
Avertingnounthe act of turning yourself (or your gaze) away; "averting her gaze meant that she was angry"
Balancenounharmonious arrangement or relation of parts or elements within a whole (as in a design); "in all perfectly beautiful objects there is found the…
Balance of international paymentsnouna system of recording all of a country's economic transactions with the rest of the world over a period of one year; "a favorable balance of pay…
Balance of paymentsnouna system of recording all of a country's economic transactions with the rest of the world over a period of one year; "a favorable balance of pay…
Bargainingnounthe negotiation of the terms of a transaction or agreement
Behavioraladjectiveof or relating to behavior; "behavioral sciences"
Behaviouraladjectiveof or relating to behavior; "behavioral sciences"
Biasverbcause to be biased
Billnounan itemized statement of money owed for goods shipped or services rendered; "he paid his bill and left"; "send me an account of what I owe"
Boardnounelectrical device consisting of a flat insulated surface that contains switches and dials and meters for controlling other electrical devices; "…
Boundedadjectivehaving the limits or boundaries established; "a delimited frontier through the disputed region"
Brotherhoodnounan organization of employees formed to bargain with the employer; "you have to join the union in order to get a job"
Businessnounthe principal activity in your life that you do to earn money; "he's not in my line of business"
Business cyclenounrecurring fluctuations in economic activity consisting of recession and recovery and growth and decline
Calculatornounan expert at calculation (or at operating calculating machines)
Capitalnounwealth in the form of money or property owned by a person or business and human resources of economic value
Causaladjectiveinvolving or constituting a cause; causing; "a causal relationship between scarcity and higher prices"
Challengernounthe contestant you hope to defeat; "he had respect for his rivals"; "he wanted to know what the competition was doing"
Chancenounthe possibility of future success; "his prospects as a writer are excellent"
chemical equilibriumnouna chemical reaction and its reverse proceed at equal rates
Choicenounthe act of choosing or selecting; "your choice of colors was unfortunate"; "you can take your pick"
Coefficientnouna constant number that serves as a measure of some property or characteristic
Collectiveadjectiveset up on the principle of collectivism or ownership and production by the workers involved usually under the supervision of a government; "coll…
Collective bargainingnounnegotiation between an employer and trade union
Comparativenounthe comparative form of an adjective or adverb; "‘faster’ is the comparative of the adjective ‘fast’"; "‘less famous’ is the comparative degree…
Comparative degreenounthe comparative form of an adjective or adverb; "‘faster’ is the comparative of the adjective ‘fast’"; "‘less famous’ is the comparative degree…
Competitionnounthe contestant you hope to defeat; "he had respect for his rivals"; "he wanted to know what the competition was doing"
Competitornounthe contestant you hope to defeat; "he had respect for his rivals"; "he wanted to know what the competition was doing"
Computernounan expert at calculation (or at operating calculating machines)
Computer architecturenoun(computer science) the structure and organization of a computer's hardware or system software; "the architecture of a computer's system software"
Consumernouna person who uses goods or services
Contendernounthe contestant you hope to defeat; "he had respect for his rivals"; "he wanted to know what the competition was doing"
Control boardnounelectrical device consisting of a flat insulated surface that contains switches and dials and meters for controlling other electrical devices; "…
Control panelnounelectrical device consisting of a flat insulated surface that contains switches and dials and meters for controlling other electrical devices; "…
Costnounthe property of having material worth (often indicated by the amount of money something would bring if sold); "the fluctuating monetary value of…
Cryingadjectiveconspicuously and outrageously bad or reprehensible; "a crying shame"; "an egregious lie"; "flagrant violation of human rights"; "a glaring erro…
Currentnouna steady flow of a fluid (usually from natural causes); "the raft floated downstream on the current"; "he felt a stream of air"; "the hose eject…
Current accountnounthat part of the balance of payments recording a nation's exports and imports of goods and services and transfer payments
Cyclenouna periodically repeated sequence of events; "a cycle of reprisal and retaliation"
Datanouna collection of facts from which conclusions may be drawn; "statistical data"
Defrayalnounthe act of paying money
Defraymentnounthe act of paying money
Delimitedadjectivehaving the limits or boundaries established; "a delimited frontier through the disputed region"
Demandnounthe act of demanding; "the kidnapper's exorbitant demands for money"
Depressionnouna long-term economic state characterized by unemployment and low prices and low levels of trade and investment
Developmentnoun(biology) the process of an individual organism growing organically; a purely biological unfolding of events involved in an organism changing gr…
Developmentnounact of improving by expanding or enlarging or refining; "he congratulated them on their development of a plan to meet the emergency"; "they fund…
Directverbplan and direct (a complex undertaking); "he masterminded the robbery"
Disbursalnounthe act of spending or disbursing money
Disbursementnounthe act of spending or disbursing money
Domesticadjectiveof concern to or concerning the internal affairs of a nation; "domestic issues such as tax rate and highway construction"
Dutynouna government tax on imports or exports; "they signed a treaty to lower duties on trade between their countries"
Earningsnounsomething that remunerates; "wages were paid by cash"; "he wasted his pay on drink"; "they saved a quarter of all their earnings"
Econometricsnounthe application of mathematics and statistics to the study of economic and financial data
Economicadjectiveof or relating to an economy, the system of production and management of material wealth; "economic growth"; "aspects of social, political, and…
Economic aidnoungift of money or other material help to support a person or cause; "economic assistance to depressed areas"
Economic assistancenoungift of money or other material help to support a person or cause; "economic assistance to depressed areas"
Economic crisisnouna long-term economic state characterized by unemployment and low prices and low levels of trade and investment
Economic developmentnounthe sustained, concerted actions of policy makers and communities that promote the standard of living and economic health of a specific area.; "…
Economic growthnounsteady growth in the productive capacity of the economy (and so a growth of national income)
Economic systemnounthe system of production and distribution and consumption
Economicaladjectiveof or relating to an economy, the system of production and management of material wealth; "economic growth"; "aspects of social, political, and…
Economynounthe system of production and distribution and consumption
Egregiousadjectiveconspicuously and outrageously bad or reprehensible; "a crying shame"; "an egregious lie"; "flagrant violation of human rights"; "a glaring erro…
Elasticitynounthe tendency of a body to return to its original shape after it has been stretched or compressed; "the waistband had lost its snap"
Employmentnounthe occupation for which you are paid; "he is looking for employment"; "a lot of people are out of work"
Engagementnounthe act of sharing in the activities of a group; "the teacher tried to increase his students' engagement in class activities"
Engineerverbplan and direct (a complex undertaking); "he masterminded the robbery"
Equilibriumnouna chemical reaction and its reverse proceed at equal rates
Estimatenouna judgment of the qualities of something or somebody; "many factors are involved in any estimate of human life"; "in my estimation the boy is in…
Estimationnouna judgment of the qualities of something or somebody; "many factors are involved in any estimate of human life"; "in my estimation the boy is in…
Estimatornounan expert at calculation (or at operating calculating machines)
Exchangeverbhand over one and receive another, approximately equivalent; "exchange prisoners"; "exchange employees between branches of the company"
exchange ratenounthe charge for exchanging currency of one country for currency of another
Expendingnounthe act of spending money for goods or services
Expenditurenounthe act of spending money for goods or services
Exportverbsell or transfer abroad; "we export less than we import and have a negative trade balance"
Externaladjectivefrom or between other countries; "external commerce"; "international trade"; "developing nations need outside help"
Externalitynounthe quality or state of being outside or directed toward or relating to the outside or exterior; "the outwardness of the world"
Figurernounan expert at calculation (or at operating calculating machines)
Financialadjectiveinvolving financial matters; "fiscal responsibility"
Financial aidnoungift of money or other material help to support a person or cause; "economic assistance to depressed areas"
Financial assistancenoungift of money or other material help to support a person or cause; "economic assistance to depressed areas"
Firmadjectivestrong and sure; "a firm grasp"; "gave a strong pull on the rope"
Fiscaladjectiveinvolving financial matters; "fiscal responsibility"
