Economics

Depressed Area
An economic term referring to a region with persistently higher unemployment and lower per capita incomes.
Derived Demand
The demand for an input to a productive process, dependent on the output produced.
Deterrents to Entry
Factors that inhibit or discourage new competitors from entering an industry
detrending
Detrending: Definition, Methods, and Analytical Frameworks in Economics
Developing Countries
An in-depth overview of the economic term 'developing countries,' often referred to as less developed countries (LDCs).
Diffusion of Innovations
The spreading of innovations round the economy, and between countries.
Dilution
An economical process affecting share value and ownership percentages through the issue of additional common stock by a company.
Diminishing Marginal Product
An explanation of the economic principle of diminishing marginal product, where the addition of successive extra units of an input yields smaller increases in output.
Diminishing Marginal Utility
An economic principle describing the decrease in added satisfaction or utility as additional units of a good or service are consumed.
Diminishing Returns to Scale
When the marginal product of a factor falls as more of that factor is used, holding the quantity of other factors constant.
Direct Investment Abroad
An overview and analysis of direct investment abroad, referring to foreign direct investment.
Direct Labour
The use of a local authority's own employees for certain types of work.
Direct Tax
A comprehensive entry on the concept of Direct Tax in economics, its definition, context, and comparative analysis.
Director
An overview of the term 'director' in the context of economics and business
dirigisme
The willingness of the state to intervene in the economy, either systematically or in an ad hoc manner.
Discount
A detailed exploration of the term 'discount' and its various economic applications.
Discount Window
An overview of the discount window as a key entity in monetary policy and central banking operations
Discounting the Future
Placing a lower value on future receipts than on the present receipt of an equal sum
Discrete Choice Models
Examining the regression models concerned with categorical dependent variables in economics.
Discrete Distribution
An overview and analysis of discrete distributions in the context of discrete random variables
Discrete Random Variable
Understanding the definition and implications of a discrete random variable in economics.
Discrete Variable
A detailed description and analysis of the economic term 'discrete variable'.
Discriminating Monopoly
A situation where a monopolist sells different units of output at different prices, employing various degrees of price discrimination to maximize profit.
Discrimination in Economics
An in-depth analysis of discrimination in employment relationships, its historical context, definitions, and economic implications.
Discriminatory Analysis
Term used for allocating an individual to the correct population group using existing samples and statistical methods.
Disequilibrium
A situation in which planned economic actions cannot be carried out due to inconsistencies between ex ante plans.
Disincentives in Economics
Economic arrangements which weaken the inducement to undertake a particular action.
Disposable Income
Overview of disposable income, highlighting its definition, historical context, and various analytical perspectives.
Dissaving
Exploring the concept of dissaving, where net assets are decreased by spending in excess of income.
Distribution
An exploration of the term 'distribution' in economics, detailing its meaning, historical context, and analytical frameworks.
Distributional Equity
An exploration into the concept of distributional equity within economics.
Disutility
A loss in utility derived from the consumption of a 'bad', often interchanged with the disutility from labor.
Divergence Indicator
A measure of how far the exchange rates of currencies of members of the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS) diverged from their agreed central parities with the European Currency Unit (ECU).
Diversification
A comprehensive examination of diversification in economics, including its definitions, frameworks, case studies, and related terms.
Dollar Standard
An exchange rate management system where other countries peg their currencies to the US dollar and hold reserves primarily in US dollars.
Domestic Credit Expansion
The increase in the money supply within an economy, not due to a balance-of-payments surplus but owing to lending by the banking system to the state or private sector.
Dominant Strategy
A strategy in game theory that results in the highest payoff for a player, regardless of the strategy adopted by others.
Double Counting
An error in economic measurements that occurs when gross amounts are summed instead of net amounts, leading to inflated totals.
Double-Dip Recession
Understanding the concept of a double-dip recession, its historical occurrence, and economic implications.
Double-Dividend Hypothesis
Exploring the double-dividend hypothesis, which argues that environmental taxes can simultaneously reduce negative externalities and provide fiscal benefits.
Dow Jones
A leading index of US stock market prices, including the 30 most widely traded US industrial shares.
Down Payment
A part of the price of goods sold on hire purchase or instalment credit that has to be paid immediately.
Downstream
Definition and implications of the term in an economic context focusing on the sequential stages of production and distribution.
Drobisch Price Index
An economic term referring to a specific type of price index formed by averaging the Laspeyres and Paasche indices.
Dummy Variable
Definition and meaning of dummy variable in economics, including its significance and application in various economic analyses.
Duopsony
A market situation with only two buyers, analogous to a duopoly involving only two sellers.
Duties - Definition and Meaning
An exploration of various types of duties including anti-dumping duty, countervailing duty, customs duty, death duties, estate duty, excise duty, and stamp duty.
Dynamic Inconsistency
A situation in which the optimal plan of a decision-maker made at one point in time is no longer optimal later in time.
Dynamics
The study of the time path of an economy, determined by a combination of exogenous and endogenous factors.
Earning Capacity
An in-depth look at earning capacity, its determinants and implications in economics
Earnings
The financial remuneration received by the employed labor force, inclusive of basic pay, bonuses, and overtime.
Earnings Function
The relationship between earnings in the labor market and the human-capital stock accumulated by an individual.
Easy Fiscal Policy
A detailed exploration of the concept of easy fiscal policy in economic theory and practice.
Ecological Fallacy
A critical error in interpreting statistical data where associations observed at the aggregate or group level are incorrectly assumed to occur at the individual level.
Economic Activity
An exploration of the production and consumption of goods and services in both market and non-market forms.
Economic Activity Classification
A framework for categorizing economic activities into distinct classes to enable comparison of data across time or between countries.
Economic Growth
An overview of the concept of economic growth and its significance in economics.
Economic Man
A person who makes rational decisions to achieve the most preferred outcome given constraints.
Economic Meltdown
A worsening economic situation analogous to the meltdown of a nuclear reactor; characterized by self-sustainability and danger.
Economic Model
A theoretical construct designed to analyse the behaviour of economic agents using quantitative and logical methods.
Economic Model
A simplified system used to simulate some aspects of the real economy, essential for understanding economic phenomena and policy implications.
Economic Shock
An exploration into the concept of economic shock, a term describing unexpected events that impact the economy, differentiating between permanent and transitory shocks.
Economic System
An analysis of the distinct frameworks an economy can adopt, affecting production, distribution, and consumption.
Economic Theory
The branch of economics focused on the construction of models and mathematical methods for their analysis.
Economically Active Population
The number of people during a specified time period who supply labour for the production of goods and services.
Economies of Scope
The benefits and cost savings that arise from engaging in related activities within a business.
Effective Demand
An economic concept representing the planned expenditure by people who have the means to pay.
Effective Protection
A detailed examination of the concept of effective protection in economics, its definition, historical context, and analytical frameworks.
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–Equity Trade-off
The observation that policies designed to achieve economic efficiency often have detrimental effects on distributional equity.
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.
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.
Elasticity of Substitution: Definition and Meaning
The elasticity of substitution characterizes the responsiveness of the ratio of quantities of two goods demanded to changes in their relative prices.
Elasticity of Supply
The ratio of the proportional rise in the quantity of a good supplied to a proportional rise in its price.
Elementary Price Index
An unweighted price index that does not account for the relative importance of different goods in a consumer's basket of purchases.
eligible paper - Definition and Meaning
Eligible paper refers to securities considered suitable for rediscounting by a central bank, such as Treasury bills and short-dated gilts.
Emerging Market and Developing Economies
Comprehensive dictionary entry for Emerging Market and Developing Economies including its definition, context, and major analytical frameworks
Emerging Markets
The concept of emerging markets, exemplified by economies transitioning towards more advanced stages of economic development.