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Central Planning: An economic system in which crucial decisions regarding investment, consumption, interest rates, exchange rates, and price determination are made by central government planners (rather than determined by market forces).
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Someone is absolutely poor if their income does not allow them to consume enough to purchase a minimum bundle of consumer goods and services (including shelter, food, and clothing). An alternative approach is to measure relative poverty.
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Department of Economics Christian Zimmermann Fall 2004, Intermediate Macroeconomics, section 3/4 ECON 219 Symbols and abbreviations used BC Budget constraint CPI Consumer Price Index GDP Gross Domestic Product GNP Gross National Product HH Household MB Marginal benefit MC Marginal cost MP Marginal product MRS Marginal rate of substitution
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6 days ago · An authoritative and comprehensive dictionary containing 2,500 key economic terms with clear, concise definitions. It covers all aspects of economics including economic theory, applied microeconomics and macroeconomics, labour economics, public economics and public finance, monetary economics, environmental economics, and many others.
Dec 19, 2018 · low-income country (World Bank definition) 11§2-a. L α. actual labour (labour-capacity exerted at a power α) [the unique source of valorisation] 1§14. LMC. lower-middle-income country (World Bank definition) 11§2-a. M. money (amount) 1§4-c. m
This dictionary is an essential guide for students and teachers of economics, business, and finance, as well as for professional economists and anyone who has to deal with economic data.
One of my approaches has been to define economics terms in ways that students could understand and that were relevant to their lives; I hope this little book helps. The first version of this book, A Brief Dictionary of Economic Terms, was prepared for Gori University students in the former Soviet Republic of Georgia.
