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

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Basel Agreement
International risk-based capital adequacy standards established for banks in 1988 by the Basel Committee on Banking Supervision.
Basel II: Definition and Meaning
An entry explaining Basel II, the second Basel Agreement, aimed at creating an international standard on capital adequacy.
Baseline: Definition and Meaning
An economic projection illustrating how the economy would develop if existing trends and policies continue unchanged.
basis point
Measurement unit for changes or differences in interest rates, equal to 1 per cent of 1 percentage point.
Batch Production
A method of production where output emerges in discrete quantities, ensuring uniform pattern and quality for specific quantities, but variable characteristics across different orders.
Battle of the Sexes
A game theory concept illustrating gains from coordination and the difficulties in achieving it
Bayes Theorem
A foundational relationship in probability theory that connects conditional probabilities with marginal probabilities.
Bayesian Econometrics
An approach to estimation and inference in econometrics using probability distributions to express uncertainty about parameters.
Bayesian Inference
An approach to hypothesis testing that assesses which of two hypotheses, the null (H0) or the alternative (H1), is more likely to be correct, considering prior knowledge.
BBB - Definition and Meaning
An explanation of the BBB rating, a medium risk classification by Standard & Poor's for securities.
Bear Market
A stock market in which prices are expected to fall.
Bearer Bond
A security where the person or organization holding the certificate of title is entitled to receive any interest and redemption payments.