Savings Function
A function that relates saving to its various determinants, both at the individual and aggregate levels.
Say’s law
An economic theory proposing that supply creates its own demand.
Scarcity
The property of being in excess demand at a zero price, leading to a positive equilibrium price.
Scatter Diagram
A diagram depicting the relation between two characteristics of a set of observations.
Scenario
A set of assumptions on policy choices and the values of exogenous variables to determine future economic developments.
Scenario Analysis
An assessment method for risky investment projects based on varying macroeconomic and project-specific factors.
Schedule A Tax
Schedule A tax was a former section of the UK income tax, levied on the imputed rent of owner-occupied land and houses.
scrip issue
An entry defining scrip issue, also known as bonus issue.
Search - Definition and Meaning
An exploration of the search model in economics, focusing on the optimal decision-making of agents facing choices with random pay-offs and costly delays.
Search Unemployment
An examination of search unemployment, a form of unemployment characterized by workers seeking a job that meets their standards of acceptability.
Seasonal Component
A component of time series describing the periodic changes in a variable within a year due to various factors.
Second-Degree Price Discrimination
A form of price discrimination where different units of a product are sold at different prices, typically through bulk discounts and commodity-bundling.