Economics

Economics

basics of economics

Industry: Economy

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Economics

Bank

Economy; Economics

Starting out as places that would guard your money, banks became the main source of credit creation. Increasingly, however, borrowers are turning to the financial markets and to non-savings ...

Balanced budget

Economy; Economics

When total public-sector spending equals total government income during the same period from taxes and charges for public services. Politicians in some countries, such as the United States, have ...

Balance of payments

Economy; Economics

The total of all the money coming into a country from abroad less all of the money going out of the country during the same period. This is usually broken down into the current account and the ...

Backwardation

Economy; Economics

When a commodity is valued more highly in a spot market (that is, when it is for delivery today) than in a futures market (for delivery at some point in the future). Normally, interest costs mean ...

A number that is calculated to summarise a group of numbers. The most commonly used average is the mean, the sum of the numbers divided by however many numbers there are in the group. The median is ...

Autarky

Economy; Economics

The idea that a country should be self-sufficient and not take part in international trade. The experience of countries that have pursued this Utopian ideal by substituting domestic production for ...

Austrian economics

Economy; Economics

A brand of neo-classical economics established in Vienna during the late 19th century and the first half of the 20th century. It was strongly opposed to Marxism and, more broadly, to the use of ...