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
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.
🧠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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Stay updated with the latest additions to our lexicon and expand your economic knowledge. Whether you’re preparing for exams, writing research papers, or pursuing professional development, EconomicsTermsLexicon.com is your go-to resource for all things economics.
An overview of the concept of efficiency in economics, its types, implications, and associated frameworks.
An examination process assessing organizational efficiency, implemented either internally for profitability improvement or externally by regulatory bodies.
An in-depth look at efficiency wages, where employers pay higher-than-market-clearing wages to boost worker productivity.
The observation that policies designed to achieve economic efficiency often have detrimental effects on distributional equity.
A feasible allocation of economic resources ensuring no alternative feasible allocation makes at least one agent better off without making another worse off.
An economic concept referring to markets where asset prices fully reflect all available information.
An in-depth entry on the concept of efficient estimator in the field of statistics and econometrics.
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.
A fee or tax on polluting discharges into the environment, aimed at environmental restoration or discouraging pollutant emissions.
Definition and meaning of 'elastic' in economics, illustrating what it denotes in terms of demand and supply elasticity.
The concept of elasticity in economics examines the responsiveness of one variable relative to proportional changes in another.
Elasticity of demand is the ratio between proportional change in quantity demanded and proportional change in price.