A function in which the logarithm of the dependent variable is linear in the logarithm of its argument.
A specialized probability distribution of a random variable such that its logarithm is normally distributed, typically resulting from multiplicative effects.
A curve reflecting the change over time of a variable with limits in economic phenomena
A statistical model used for predicting the probability of a binary outcome.
A statistical model used for predicting the probability of a binary outcome.
An in-depth look at the long rate, focusing on its definition, meaning, historical context, and major analytical frameworks.
Understanding the long run in economic analysis, where all variables can be changed.
Definition and explanation of long-run average cost (LRAC) in economics.
Definition and detailed explanation of long-run marginal cost in economics.
A graph representing income or wealth distribution in a population
The result of a business operation where expenditures exceed receipts, leading to a reduction in a business's capital.
The belief that the number of jobs in an economy is fixed, and the economic analysis disproving this belief.
A comprehensive overview of lump-sum tax, its implications in economics, and related concepts.
A term in economics referring to the quality of being indivisible or not able to be broken down into smaller units.
A detailed look into the definition, components, and significance of M2 as a measure of money supply in various economies.
A comprehensive definition of M3 and its implications in the context of broader money supply definitions.
The branch of econometrics that has developed tools specifically designed to analyze macroeconomic data.
The branch of economics that examines aggregate quantities in the economy, including total employment, production, consumption, and imports and exports.
Thesis developed by economist Thomas Malthus explaining how population growth tends to outpace growth in resources, driving per capita incomes down to subsistence levels.
Managed trade refers to international trade regulated by government agreements and negotiations rather than market forces.
A comprehensive exploration of management, its historical context, definitions, analytical frameworks, case studies, and further readings.
Examination of theories explaining firm conduct through managerial motivations.
The component of government expenditure that the government is legally required to execute.
Exploring the fundamentals and implications of margin requirements in financial transactions.
An analysis of margin trading in financial markets, highlighting borrowing practices, risks, and required collateral.
Understanding the concept of marginal benefit in economics - the additional benefit from an increase in an activity.
An overview of the marginal conditions for optimality, a fundamental principle in economics that describes the equality of marginal benefit and marginal cost as a characterization of an optimal choice.
The additional cost incurred from an increase in an activity.
An exploration of the marginal cost of abatement and its implications in economic theory and environmental regulation.
The policy of setting the price of a good or service equal to the marginal cost of producing it.
Understanding the concept of the marginal efficiency of investment (MEI), its historical context, major analytical frameworks, and practical applications.
A dictionary entry for the term 'marginal firm' in economics, detailing its definition, historical context, and analytical frameworks.
The increase in private benefit resulting from a marginal increase in an activity, excluding any external effects.
The increase in private cost resulting from a marginal increase in an activity, excluding any external effects.
The extra output that results from a small increase in an input, formally represented by the partial derivative of a production function with respect to the input's quantity.
An economic metric that quantifies the change in consumption capacity resulting from a change in disposable income.
An economic measure indicating the portion of additional income that will be spent on imports.
An examination of the Marginal Propensity to Save (MPS), its definitions, frameworks, historical contexts, and case studies in economics.
The additional amount of one good required to compensate a consumer for a small decrease in the quantity of another, per unit of the decrease.
An exploration of the concept of the marginal rate of transformation in economics which signifies the amount by which one output can be increased if another is reduced, holding total inputs constant.
A comprehensive analysis of the economic term 'marginal revenue', its definitions, and applications.
The addition to total revenue from a small increase in any factor input, per unit of the increase.
An economics term referring to the increase in social benefit from a marginal increase in an activity, incorporating all external effects.
The increase in social cost resulting from a marginal increase in an activity, including all external effects.
Detailed explanation of the marginal tax rate and its implications in economics.
The addition to an individual’s utility from a small increase in consumption of any good, per unit of the increase.
The amount by which an individual’s utility would be increased if given a small quantity of additional money.
The increase in an individual’s utility from an incremental increase in total wealth.
A detailed entry about markets, encompassing its definitions, types, and significance in economics.
The freedom to buy or sell in a market, potentially hindered by natural or institutional barriers.
Definition and meaning of market clearing in economics
A term describing the extent to which a market is dominated by a limited number of firms.
Definition and analysis of the term 'market entry' in the field of economics
An examination of market failure in economic contexts, its sources, and implications for government intervention.
An economic theory that describes how asymmetric information can cause market failure, often illustrated through the used-car market.
Understanding Market Forces and Their Impact on Economics
The ability of an economic agent to affect the equilibrium price in a market.
The prices at which goods are currently trading in the market.
The risk faced by traders due to price changes in financial markets, for holders of both long and short positions.
An explanation of market share and its implications in different contexts such as regulatory frameworks and economic analysis.
An in-depth look at market structure, its definition, the measuring indices, and its implications across various economic theories.
An overview and in-depth analysis of marketable securities in economics.
Comprehensive overview of Marketing, its processes, and impact on business.
A condition that ensures devaluation improves a country’s balance of trade.
Explanation of the economic concept of Marshallian Demand, its origins, definitions, and its relevance in economic analysis
An exploration of the concept of Marshallian demand in economics, expressing demand for a good as a function of prices and income.
Production on a large scale, using mechanized methods to produce standardized goods.
A derogatory term for the practice of altering statistical data to fit certain narratives or remove discrepancies.
A model of interaction between agents where joint productivity or pay-offs depend on individual characteristics on both sides, used in labor market studies.
An overview of material resources within an economic context
An exploration of the field of mathematical economics, which is at the boundary between economics and applied mathematics.
A comprehensive exploration of the term 'mean' as a measure of central tendency in economics and statistics.
Understanding the principle of mean reversion in economics and its applications.
Understanding mean-variance preferences in investment portfolio choice.
An assessment method used to determine eligibility for certain benefits based on income and assets.
A comprehensive overview of means-tested benefits, including definitions, analytical frameworks, comparative analysis, and related terms.
The difference between the true value of a quantity and the measured value, including systematic and random errors.
The median of the distribution of a random variable and its significance in statistical analysis.
A theorem in voting theory that asserts the outcome of majority voting will be the preference of the median voter.
A detailed account of the concept of a medium of exchange in economics.
A combination of two or more firms into a single new firm, involving the consolidation of assets and liabilities and division of shares among original shareholders.
Merit goods are goods or services whose consumption is deemed beneficial for society beyond the immediate individual benefits, often warranting government intervention.
An estimator of the unknown parameters of a distribution obtained by solving equations equating moments of distribution to their sample counterparts.
Comprehensive overview of microeconomics, focusing on the decision-making processes of individuals and firms, economic equilibria, and the impact of government policies on economic outcomes.
An in-depth examination of the term 'migration,' its economic implications, historical context, and related analytical frameworks.
Exploration of the term 'military–industrial complex,' its origins, impact, and significance in economic and political realms.
Definition and meaning of the minimal state in economics
An examination of misaligned exchange rates and their economic implications.
The ability of workers to change jobs, occupations, locations, or countries, and the various obstacles they face in doing so.
Understanding the Moment of Distribution in Economics
A deep-dive into the field of monetary economics, exploring its conduct, institutions, and impact on various economic variables.
The use by the government or central bank of interest rates or controls on the money supply to influence the economy.
Entry defining the term 'money' as a medium of exchange and store of value, including different forms and historical contexts.
An economic concept where nominal changes are mistaken for real changes.
An exploration of the money market, its functions, and its role in the economy.
The rate at which an increase in money supply changes national income.
The amount of money in an economy, encompassing both the country's own money and any foreign money utilized within the system.
