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.

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

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

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Efficiency
An overview of the concept of efficiency in economics, its types, implications, and associated frameworks.
Efficiency Audit
An examination process assessing organizational efficiency, implemented either internally for profitability improvement or externally by regulatory bodies.
Efficiency Wages
An in-depth look at efficiency wages, where employers pay higher-than-market-clearing wages to boost worker productivity.
Efficiency–Equity Trade-off
The observation that policies designed to achieve economic efficiency often have detrimental effects on distributional equity.
Efficient Allocation
A feasible allocation of economic resources ensuring no alternative feasible allocation makes at least one agent better off without making another worse off.
Efficient Asset Markets
An economic concept referring to markets where asset prices fully reflect all available information.
Efficient Estimator
An in-depth entry on the concept of efficient estimator in the field of statistics and econometrics.
Efficient Markets Hypothesis
The theory that where assets are traded in organized markets, prices take account of all available information, making it impossible to predict future price movements.
Effluent Charge
A fee or tax on polluting discharges into the environment, aimed at environmental restoration or discouraging pollutant emissions.
Elastic: Definition and Meaning
Definition and meaning of 'elastic' in economics, illustrating what it denotes in terms of demand and supply elasticity.
Elasticity
The concept of elasticity in economics examines the responsiveness of one variable relative to proportional changes in another.
Elasticity of Demand
Elasticity of demand is the ratio between proportional change in quantity demanded and proportional change in price.