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.

Features

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.

๐Ÿ”— Authoritative References: Each entry includes references to authoritative books, official publications, and government sites, ensuring the information is reliable and accurate.

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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Social Choice
An examination of the economic concept of social choices, which are decisions made collectively by society.
Social Custom
An accepted, established, or expected pattern of behaviour in a society.
Social Interaction - Definition and Meaning
Examining the economic term 'social interaction' and its implications on preferences, constraints, and individual behaviors within reference groups.
Social Internal Rate of Return
Understanding the social internal rate of return, a discount rate that balances the net present social benefits and costs of a private activity, including externalities.
Social Market Economy
A term describing an economic system that blends market-based private ownership with significant government intervention in the form of public services and social security.
Social Optimum
The allocation that maximizes social welfare, chosen by a benevolent social planner within the constraints of resource endowment.
Social Planner
A benevolent decision-maker who chooses economic policy either to maximize a social welfare function or to attain a Pareto efficient allocation.
Social Purpose Company
A form of for-profit company that can pursue social or environmental objectives alongside profit maximization.
Social Returns to Education
Externalities generated by the education of individuals that benefit society beyond individual wages.
Social Security Act
Definition and implications of the 1935 Social Security Act, which established a federal system of social security in the United States.
Social Security Benefits
State payments aimed at ensuring minimum living standards for residents, commonly provided to those over retirement age, the disabled, and others unable to support themselves.