Economics Terms Lexicon - Authoritative Dictionary and Knowledge Tests

About Economics Terms Lexicon

Welcome to EconomicsTermsLexicon.com! Our site offers a comprehensive and authoritative dictionary of economic terms, providing detailed definitions and explanations. Each dictionary entry references books, official publications, and government websites to ensure accuracy and reliability.

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đź“š Comprehensive Content: Our lexicon covers a wide range of economic terms and concepts, thoroughly explained to help users understand even the most complex topics.

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National Wealth
Total value of assets belonging to the citizens of a nation, including personal wealth, land, and natural resources.
No-Strike Agreement
An agreement between a firm and the union(s) representing its employees that in the event of disagreements which cannot be resolved by negotiation both sides will accept the results of arbitration rather than resorting to strike action.
Over-subscription
The situation when the number of shares applied for in a new issue exceeds the number on offer.
Population Trap
A scenario where rapid population growth hinders any improvement in living standards due to the necessity of all available savings to maintain the current capital–labour ratio.
Quota: Definition and Meaning
An entry discussing the economic term 'quota,' its various types, implications, and effects on markets and competition.
Reservation Wage
The minimum wage a worker is willing to accept while engaging in job search activities.
Robustness of Policies
The property of economic policies that their merits are relatively insensitive to the exact specification of the underlying model of the economy
Solow Growth Model
A comprehensive look at the Solow growth model, a fundamental concept in economics explaining economic growth through capital accumulation.
Specialization - Definition and Meaning
Understanding specialization in economics, where entities focus on producing specific goods and services while relying on others for what they do not produce.
Tax-Based Incomes Policy
An economic policy that utilizes the tax system to control inflation by influencing wages and prices.
Taylor Rule - Definition and Meaning
A monetary policy rule that postulates how a central bank determines interest rates based on deviations in inflation and output gap from their target values.