A claim that the terms of trade between primary products and manufactured goods deteriorate over time, suggesting that countries exporting primary commodities should establish manufacturing industry to counteract adverse effects.
The motive to hold money to provide for the unexpected. See also demand for money.
An economic strategy where pricing is set very low to eliminate competition or deter market entry.
An entry defining the concept of a predetermined variable in econometric models, its significance, and its use in solving the endogeneity problem.
An estimator of the value of the dependent variable given by the estimated regression equation
A detailed overview of the economic concept of preference revelation and its implications.
A company share which carries no vote, but ranks before ordinary shares for dividends.
A detailed exploration of preferences in the context of economics, including different schools of thought and related terms.
The price paid for an insurance policy, which may be monthly, annual, or a lump-sum payment.
A UK government security with a unique structure involving a lottery-based reward system.
A formal description and analysis of prescriptive statements, their implications in economics, and comparison with other economic statements.
Definition and explanation of present discounted value (PDV), a core concept in economics used to determine the current value of future payments or cash flows.
