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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Definitions
Prices and Incomes Policy
Economics Policy Government Intervention Prices Incomes
Overview and analysis of government attempts to control prices and incomes directly.
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Definitions
Pricing
Economics Pricing Strategies Market Dynamics
Pricing refers to the method organizations use to set the prices for their products or services. Detailed frameworks include average cost pricing, cost-plus pricing, full cost pricing, limit pricing, marginal cost pricing, peak-load pricing, and transfer pricing.
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Definitions
Primary Commodity
Economics Commodity Markets Primary Goods
Exploration of the definition, historical context, and economic frameworks of primary commodities
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Definitions
Primary Sector
Economics Primary Sector Natural Resources
The sector of an economy making direct use of natural resources including agriculture, forestry, fishing, mining, and extraction of oil and gas.
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Definitions
Prime Rate
Prime Rate Interest Rates Banking
A reference interest rate used by banks to determine the lending rates for their most creditworthy borrowers.
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Definitions
Principal
Economics Principal-Agent Problem Agency Theory
An explanation of the term 'principal' in economic and business contexts, including the principal-agent relationship.
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Definitions
Principal Components Analysis
Economics Statistics Dimensionality Reduction Data Analysis
An analytical technique for dimensionality reduction in multivariable datasets through identifying principal components.
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Definitions
Principal–Agent Problem
Principal–Agent Problem Economics Incentives Contract Theory Mechanism Design
The dilemma of motivating an agent to act on behalf of a principal when both parties follow their own self-interests.
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Definitions
Prior
Bayesian Econometrics Probability Distribution Bayesian Inference
The initial value or probability distribution attached to a parameter in Bayesian econometrics.
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Definitions
Prisoners’ Dilemma
Game Theory Economics Prisoners' Dilemma Strategic Decision Making
A two-player game illustrating the conflict between private and social incentives, and the importance of binding commitments.
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Definitions
Private Benefit
Economics Private Benefit Market Efficiency
The benefit arising to a single individual from an economic activity.
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Definitions
Private Company - Definition and Meaning
Private Company Corporations Business Structure
An explanation of the concept of a private company, focusing on its nature, structure, and restrictions as defined primarily in the UK context.
Read more about Private Company - Definition and Meaning.

Economics Terms Lexicon

Ultimate Dictionary of Economics and Beyond.