Economics

Economics

basics of economics

Industry: Economy

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Economics

World Trade organisation (WTO)

Economy; Economics

Bête noire of anti-globalization protesters. The World Trade organisation is the governing body of international trade, setting and enforcing the rules of trade and punishing offenders. Established ...

X-efficiency

Economy; Economics

Producing output at the minimum possible cost. This is not enough to ensure the best sort of economic efficiency, which maximises society's total consumer plus producer surplus, because the quantity ...

Yield

Economy; Economics

The annual income from a security, expressed as a percentage of the current market price of the security. The yield on a share is its dividend divided by its price. A bond yield is also known as its ...

Yield curve

Economy; Economics

Shorthand for comparisons of the interest rate on government bonds of different maturity. If investors think it is riskier to buy a bond with 15 years until it matures than a bond with five years of ...

Yield gap

Economy; Economics

A way of comparing the performance of bonds and shares. The gap is defined as the average yield on equities minus the average yield on bonds. Because shares are usually riskier investments than ...

Zero-sum game

Economy; Economics

When the gains made by winners in an economic transaction equal the losses suffered by the losers. It is identified as a special case in game theory. Most economic transactions are in some sense ...

Supply

Economy; Economics

One of the two words economists use most, along with demand. These are the twin driving forces of the market economy. Supply is the amount of a good or service available at any particular price. The ...