Economics

Economics

basics of economics

Industry: Economy

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Economics

Global public goods

Economy; Economics

Public goods that cannot be provided by one country acting alone but only by the joint efforts of many (strictly, all) countries. Some economists, along with global institutions such as the UN, ...

Gini coefficient

Economy; Economics

An inequality indicator. The Gini coefficient measures the inequality of income distribution within a country. It varies from zero, which indicates perfect equality, with every household earning ...

Gilts

Economy; Economics

Shorthand for gilt-edged securities, meaning a safe bet, at least as far as receiving interest and avoiding default goes. The price of gilts can vary considerably over time, however, creating a ...

Giffen goods

Economy; Economics

Named after Robert Giffen (1837-1910), a good for which demand increases as its price rises. But such goods may not exist in the real world.

Generational accounting

Economy; Economics

A relatively new way of analysing fiscal policy by identifying the financial costs and benefits of government policies to people of different ages, now living or yet to be born. Fiscal policy can ...

Economic perfection. This is when demand and supply are in balance (the market is in equilibrium) for each and every good and service in the economy. Nobody thinks that real-world economies can ever ...

General agreement on tariffs and trade (GATT)

Economy; Economics

The vehicle for promoting international free trade, through a series of rounds of negotiations between the governments of trading countries. The first GATT round began in 1945. The last led to the ...