Economics

Economics

basics of economics

Contributors in Economics

Economics

When the value of a good to a consumer changes because the number of people using it changes. For instance, owning a phone becomes more valuable as more people are plugged into the telephone network. ...

Net present value (NPV)

Economy; Economics

A measure used to help decide whether or not to proceed with an investment. Net means that both the costs and benefits of the investment are included. To calculate net present value (NPV), first add ...

National debt

Economy; Economics

The total outstanding borrowing of a country's government (usually including national and local government). It is often described as a burden, although public debt may have economic benefits (see ...

Nation building

Economy; Economics

Creating a country that works out of one that does not - because the old order has collapsed (as in the former Soviet Union), or been destroyed by war (Iraq), or never really functioned in the first ...

Nash equilibrium

Economy; Economics

An important concept in game theory, a Nash equilibrium occurs when each player is pursuing their best possible strategy in the full knowledge of the strategies of all other players. Once a Nash ...

Multiplier

Economy; Economics

Shorthand for the way in which a change in spending produces an even larger change in income. For instance, suppose a government loosens fiscal policy, increasing net public spending by pumping an ...

Most-favored nation

Economy; Economics

Equal treatment, at least, in international trade. If country A grants country B the status of most-favored nation, it means that B's exports will face tariff that are no higher (and also no lower) ...