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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๐Ÿ“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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๐Ÿง  Knowledge Test Quizzes: Enhance your understanding with quizzes designed for each dictionary entry. Test your knowledge and track your progress seamlessly.

๐ŸŒ Global Relevance: While our focus is on providing detailed economic definitions, the referenced materials ensure global relevance and context.

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Output Method
The method of calculating domestic product using information on the net outputs of various sectors of the economy.
Output per Hour Worked
A measure of output per unit of labour input, used in comparing productivity.
Outside Money
An asset in the economy that is not a liability for anyone else, commonly applied to gold coinage rather than bank balances.
Outsourcing
The practice of buying goods and services from outside suppliers rather than producing them within a firm.
Outworker
A worker employed by an enterprise for a task or delivery of goods and services under contract, but working externally
Over-Capacity Working
Production levels in a firm or an industry that exceed its conventionally calculated capacity.
Over-valued Currency
Over-valued currency - a currency whose exchange rate is too high for a sustainable equilibrium in the balance of payments
Overdraft
A negative balance in a bank account, often allowed by prior arrangement but incurs interest and extra service charges.
Overhead Costs
A look into the definition and meaning of overhead costs within economic frameworks.
Overlapping Generations Economy
An analysis of the overlapping generations economy, a discrete-time dynamic economic model where individual agents have finite lives but exist across multiple periods.
Overmanning
Definition and exploration of the term 'overmanning' in an economic context