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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🌍 Global Relevance: While our focus is on providing detailed economic definitions, the referenced materials ensure global relevance and context.

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Futures Contract
A contract to buy or sell a good, share, or currency on a future date, at a price decided when the contract is entered into.
Futures Market
A market organization where futures contracts for commodities, shares, or currencies are traded, committing parties to buy or sell at a predetermined future date and price.
G8 - Definition and Meaning
An in-depth exploration of G8 (Group of Eight) in economics, including its historical context, major frameworks, and comparative analysis.
Gains from Trade
The improvement in welfare resulting from countries trading with one another as opposed to a position of autarchy.
Gambling
Definition and in-depth analysis of the term 'gambling' in economics
Game of Chicken in Economics
An analysis of the Game of Chicken, a two-player game illustrating potential conflicts and outcomes.
Game Theory
The analysis of strategic situations where one agent's actions affect another's pay-off, providing a formal model for strategic interaction.
Gamma Distribution
A continuous distribution with a density function often used in statistics and applied sciences.
Gauss–Markov Theorem
A comprehensive overview of the Gauss–Markov Theorem, emphasizing its statistical and econometric significance.
Gazumping
Reneging by the seller of a property on an agreement to sell due to a higher offer by an alternative buyer.
Gazundering
The practice where a purchaser lowers their initial offer on a property just before the sale completes.