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Definitions
Latent Variable
Latent Variable
Economics
Factor Analysis
Proxy Variable
Behavioral Economics
A comprehensive overview of latent variables in economics, exploring their definition, applications, analytical frameworks, and related concepts.
Read more about Latent Variable.
Definitions
Latin American Crisis
Latin American Crisis
1980s
Foreign Debt
International Monetary Fund
World Bank
An overview of the Latin American foreign debt crisis of the 1980s, including its context, economic implications, and resolutions.
Read more about Latin American Crisis.
Definitions
Law of Demand
Economics
Demand
Price
Consumer Theory
Equilibrium
The principle that states the level of demand for a good or service is inversely related to its price.
Read more about Law of Demand.
Definitions
Law of Diminishing Returns
Economics
Production
Law of Diminishing Returns
An overview of the law of diminishing returns and its implications in economic theory.
Read more about Law of Diminishing Returns.
Definitions
Law of Large Numbers
Statistics
Probability Theory
Economics
A statistical theorem stating that as the number of trials increases, the sample average will converge to the expected mean.
Read more about Law of Large Numbers.
Definitions
Layoffs
Labor Economics
Unemployment
Macroeconomics
Permanent terminations or temporary suspensions by a firm of the employment of all or part of its workforce.
Read more about Layoffs.
Definitions
Leading Indicator
Economics
Forecasting
Indicators
An economic time series which tends to rise or fall earlier than variables of interest.
Read more about Leading Indicator.
Definitions
Leads and Lags
Economics
International Trade
Foreign Exchange
Speculation
The ability of traders to bring forward or defer the timing of transactions.
Read more about Leads and Lags.
Definitions
Leakages from the Circular Flow of Income
Keynesian Economics
Circular Flow of Income
Leakages
Savings
Taxes
Imports
Definition and meaning of leakages from the circular flow of income within Keynesian economics.
Read more about Leakages from the Circular Flow of Income.
Definitions
Learning by Doing
Economics
Productivity
Endogenous Growth
Human Capital
The concept that productivity increases through practice and experience.
Read more about Learning by Doing.
Definitions
Learning Curve
Learning Curve
Efficiency
Economic Theory
Understanding the Learning Curve: its definition, historical context, and major analytical frameworks.
Read more about Learning Curve.
Definitions
Lease
Lease
Property
Economics
A contract granting the use of land or buildings for a specified period in exchange for rent.
Read more about Lease.
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Economics Terms Lexicon
Ultimate Dictionary of Economics and Beyond.
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