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
📚 Comprehensive Content: Our lexicon covers a wide range of economic terms and concepts, thoroughly explained to help users understand even the most complex topics.
🔗 Authoritative References: Each entry includes references to authoritative books, official publications, and government sites, ensuring the information is reliable and accurate.
🧠 Knowledge Test Quizzes: Enhance your understanding with quizzes designed for each dictionary entry. Test your knowledge and track your progress seamlessly.
🌍 Global Relevance: While our focus is on providing detailed economic definitions, the referenced materials ensure global relevance and context.
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- Interactive Learning: Our quizzes offer an engaging way to reinforce your learning and test your understanding of each term.
- Educational Resource: Ideal for students, educators, and professionals seeking to deepen their knowledge of economics.
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1--- 2meta: 3 date: false 4 reading_time: false 5title: "International Company" 6date: 2023-10-05 7description: "Definition and meaning of an International Company within the context of Economics." 8tags: ["international company", "multinational", "global business"] 9--- 10 11## Background 12 13An international company refers to an entity that engages in business operations across multiple countries. These companies typically maintain business operations in more than one nation, aiming to offer products and services to a global market.
1--- 2meta: 3 date: false 4 reading_time: false 5title: "International Debt Crisis" 6date: 2023-10-10 7description: "An in-depth examination of international debt crises and their implications for the global economy." 8tags: ["international debt crisis", "debt crisis", "economic crisis", "global economy"] 9--- 10 11## Background 12 13An international debt crisis occurs when one or more countries find themselves unable to repay their governmental and/or external debts, leading to significant economic and political consequences on a global scale.
1--- 2meta: 3 date: false 4 reading_time: false 5title: "Knock-on Effect" 6date: 2023-10-05 7description: "The idea that one action or event has secondary or indirect consequences in economics." 8tags: ["Economics", "Systematic Effects", "Equilibrium"] 9--- 10 11## Background 12 13The knock-on effect refers to the concept whereby an initial action results in a series of events or reactions, producing secondary or indirect consequences. In the context of economics, it underscores the interconnectedness of economic agents and how a change in one aspect of the economy can trigger wider repercussions.
--- meta: date: false reading_time: false title: "Level of Significance" date: 2023-10-12 description: "A detailed exploration of the level of significance in economics context" tags: ["economics", "statistics", "hypothesis testing", "significance level"] --- ## Background The level of significance, often symbolized by alpha (α), is a crucial concept in statistics and economics. It determines the threshold at which we reject the null hypothesis in favor of the alternative hypothesis in hypothesis testing.
1--- 2meta: 3 date: false 4 reading_time: false 5title: "Moment-Generating Function" 6date: 2023-10-05 7description: "Definition and import of moment-generating function in economics" 8tags: ["statistics", "econometrics", "mathematical economics"] 9--- 10 11## Background 12 13In probability theory and statistics, the moment-generating function (MGF) is a useful tool utilized to derive moments, such as mean and variance, of a random variable. It is analogous to the characteristic function and serves as an alternative way to describe the distribution of a random variable.
1--- 2meta: 3 date: false 4 reading_time: false 5title: "Maastricht Treaty" 6date: 2023-10-05 7description: "A treaty concluded in 1993 between members of the European Community that significantly shaped the formation of the European Union and set out the program for the European Monetary Union (EMU) and the creation of the European Central Bank." 8tags: ["Maastricht Treaty", "European Union", "European Monetary Union", "European Central Bank", "convergence criteria", "Social Chapter"] 9--- 10 11## Background 12 13The Maastricht Treaty, officially known as the Treaty on European Union, was a pivotal agreement signed in December 1991 and officially enacted on November 1, 1993.
1--- 2meta: 3 date: false 4 reading_time: false 5title: "Mark-up - Definition and Meaning" 6date: 2023-10-05 7description: "The excess of the selling price of a product over the cost of making or buying it." 8tags: ["economics", "pricing", "profit margin"] 9--- 10 11## Background 12 13Mark-up refers to the difference between the selling price of a product and the cost of producing or procuring it. It represents not only the profit margin the company aims to achieve but also must account for covering overhead and operational costs.
--- meta: date: false reading_time: false title: "Market-Maker" date: 2023-10-05 description: "Definition and meaning of a market-maker in the context of goods or securities markets." tags: ["economics", "market-maker", "liquidity", "trading"] --- ## Background A market-maker is a crucial entity within financial markets, facilitating liquidity and ensuring smoother trading operations by buying and selling securities or goods from their inventory. They essentially act as intermediaries, bridging the gap between buyers and sellers.
1--- 2meta: 3 date: false 4 reading_time: false 5title: "Markov Chain" 6date: 2023-10-05 7description: "A stochastic process described by a finite number of states with transition probabilities depending only on the current state." 8tags: ["stochastic processes", "probability", "economics", "statistics", "Markov chain"] 9--- 10 11## Background 12 13A Markov chain is a type of stochastic process that deals with sequences of events or states. In a Markov chain, the probability of transitioning to a particular state depends only on the current state and not on preceding states.
1--- 2meta: 3 date: false 4 reading_time: false 5title: "Marshall Plan" 6date: 2023-10-05 7description: "A large programme of US aid to assist recovery of the European economies from the effects of the Second World War." 8tags: ["Marshall Plan", "US Aid", "European Recovery", "Post-War Economics", "World War II", "George C. Marshall"] 9--- 10 11## Background 12 13The Marshall Plan, officially known as the European Recovery Program (ERP), was a comprehensive program of economic aid initiated by the United States to assist European nations in rebuilding their economies following the devastation of World War II.
1--- 2meta: 3 date: false 4 reading_time: false 5title: "Marshallian Demand" 6date: 2023-10-05 7description: "An explanation of Marshallian demand in economics, focusing on definitions, historical context, and major analytical frameworks." 8tags: ["Marshallian Demand", "Utility", "Demand Functions", "Economics"] 9--- 10 11## Background 12 13Marshallian demand refers to the demand for goods driven by the utility maximization of individuals subject to their budget constraints. This concept is named after the influential economist Alfred Marshall, who was instrumental in evolving the theory of demand in the late 19th and early 20th centuries.
1--- 2meta: 3 date: false 4 reading_time: false 5title: "Missing Market" 6date: 2023-10-10 7description: "The absence of a market for trading a good." 8tags: ["Economics", "Market Failure", "Externalities", "Pareto Efficiency"] 9--- 10 11## Background 12 13The concept of a missing market arises when there is an absence of a marketplace or system where a certain good or service can be traded. This gap can result from various factors such as legal restrictions, lack of demand, or inherent nature of the good or service.
