Economics

Economics

basics of economics

Industry: Economy

Add a new term

Contributors in Economics

Become a Contributors

Economics

Joint supply

Economy; Economics

Some products or production processes have more than one use. For instance, cows can both provide milk and be eaten. If farmers increase the number of cows they own in response to an increase in ...

A much quoted, great British economist, not famous for holding the same opinion for long. Born in 1883, he studied at Cambridge but came to reject much of the classical economics and Neo-classical ...

Job search

Economy; Economics

The time taken to find a new job. Because some people will devote all their time to this search, there will always be some frictional unemployment, even when there is otherwise full employment.

J-curve

Economy; Economics

The shape of the trend of a country's trade balance following a devaluation. A lower exchange rate initially means cheaper exports and more expensive imports, making the current account worse (a ...

James Tobin

Economy; Economics

A Nobel prize-winning economist, James Tobin (1918-2002) theorised that firms would continue to invest as long as the value of their shares exceeded the replacement cost of their assets. The ratio of ...

Inward investment

Economy; Economics

Investment from abroad; the opposite of outward investment (see foreign direct investment).

Invisible trade

Economy; Economics

Exports and imports of things you cannot touch or see: services, such as banking or advertising and other intangibles, such as copyrights. Invisible trade accounts for a growing slice of the value of ...