Economics

Economics

basics of economics

Contributors in Economics

Economics

Somewhere between short-termism, which is bad, and the long run, lies the hallowed ground of the medium term – far enough away to discourage myopic behavior by decision makers but close enough to be ...

AIDCA

Economy; Economics

acronym for Awareness, Interest, Desire, Conviction, Action; mental states which supposedly lead a potential customer to a buying decision. See Formula Selling.

Ambience

Economy; Economics

the surroundings, including floor lay-out, indoor plants, furniture and furnishings, decor, colour, advertising material, lighting and music, which give a retail outlet its distinctive look and ...

currency board

Economy; Economics

A means by which some countries try to defend their currency from speculative attack. A country that introduces a currency board commits itself to converting its domestic currency on demand at a ...

moral hazard

Economy; Economics

One of two main sorts of market failure often associated with the provision of insurance. The other is adverse selection. Moral hazard means that people with insurance may take greater risks than ...

liberalization

Economy; Economics

A policy of promoting liberal economics by limiting the role of government to the things it can do to help the market economy work efficiently. This can include privatization and deregulation.