Economics

Economics

basics of economics

Contributors in Economics

Economics

The big hitters of the financial markets: pension funds, fund-management companies, insurance companies, investment banks, hedge funds, charitable endowment trusts. In the United States, around half ...

Index numbers

Economy; Economics

Economists love to compile indices aggregating lots of individual data, so they can analyse broad trends in the behaviour of an economy. Inflation is measured by an index of consumer (retail) prices. ...

Incumbent advantage

Economy; Economics

The importance of being there already. Firms that are in a market can have a significant competitive advantage over aspiring entrants to that market, for instance, through having the opportunity to ...

Income tax

Economy; Economics

A much-loathed method of taxation based on earnings. It was first collected in 1797 by the Dutch Batavian Republic. In the UK it was introduced in 1799 as a "temporary" measure to finance a war ...

Income effect

Economy; Economics

A change in the demand for a good or service caused by a change in the income of consumers rather than, say, a change in consumer tastes. Contrast with substitution effect.

Income

Economy; Economics

The flow of money to the factors of production: wages to labor; profit to enterprise and capital; interest also to capital; rent to land. Wages left for spending after paying taxes is known as ...