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

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Definitions
Tokyo Round
International Trade GATT Tariffs Tokyo Round
Overview of the Tokyo Round of international trade talks held under GATT between 1973 and 1979.
Read more about Tokyo Round.
Definitions
Trade Liberalization
Trade Liberalization International Trade Economic Policy
The process of reducing or removing restrictions on international trade to promote economic efficiency.
Read more about Trade Liberalization.
Definitions
Beveridge Curve
Beveridge Curve Unemployment Job Vacancies Labor Market
A graph depicting the relationship between unemployment and the job vacancy rate, indicating labor market efficiency.
Read more about Beveridge Curve.
Definitions
Business Cycle
Economics Business Cycle Economic Fluctuations
The fluctuation of economic activity around the long-term growth path, involving periods of growth and decline.
Read more about Business Cycle.
Definitions
Capital Movements
Capital Movements Foreign Direct Investment Capital Account Economics
The movement of capital between countries, either as outflows of domestically owned capital to foreign countries or inflows of foreign-owned capital into a country.
Read more about Capital Movements.
Definitions
Consumer Non-Durables
Economics Non-Durable Goods Consumer Goods
Consumer non-durables are goods that are used up quickly and are not serviceable beyond their immediate one-time use.
Read more about Consumer Non-Durables.
Definitions
Default
Default Debt Economics Bankruptcy Insolvency
Definition and meaning of default in an economic context, highlighting the implications for individuals, firms, and countries.
Read more about Default.
Definitions
English Auction
English Auction Auction Economics Market Mechanisms
An auction where the auctioneer starts with a low price and keeps taking higher bids until there are no more bids, selling the item to the highest bidder.
Read more about English Auction.
Definitions
Glejser Test
Econometrics Statistical Tests Heteroscedasticity
A statistical test for heteroscedasticity in regression models, checking if the size of random errors increases proportionally to changes in exogenous variables.
Read more about Glejser Test.
Definitions
Optimal Taxation
Taxation Economics Public Economics Welfare Economics
An overview of optimal taxation, its theoretical underpinnings, and its applications in various economic paradigms.
Read more about Optimal Taxation.
Definitions
Pay Control
Labor Economics Wage Control Economic Policy
Control over wage rates as part of a prices and incomes policy.
Read more about Pay Control.
Definitions
Power
Power Bargaining Economics Monopoly
Strength in arranging the terms of one’s dealing with other firms or people.
Read more about Power.

Economics Terms Lexicon

Ultimate Dictionary of Economics and Beyond.