International economics

International economics

International trade theories, policies, finances and their effects on economic activities.

Industry: Economy

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International economics

Cobb-douglas function

Economy; International economics

A popular functional form for production and utility functions. With arguments ''X'' = (''X'' 1 ,. . . ,''X n ''), the function is ''F''(''X'') = ''A'''' i X i '''' i '', where ...

1. A number or symbol multiplied by a variable. 2. In a regression analysis, the estimated numerical association between one variable and another, usually taken to represent the sign and size of the ...

Commodity terms of trade

Economy; International economics

1. Real price of commodities relative to manufactures. This would be the same as the most familiar terms of trade -- the net barter terms of trade -- for many developing countries that export primary ...

Common currency

Economy; International economics

A currency that is shared by more than one country. Thus the currency of a currency area.

Common market

Economy; International economics

A group of countries that eliminate all barriers to movement of both goods and factors among themselves, and that also, on each product, agree to levy the same tariff on imports from outside the ...

Common Market of Eastern and Southern Africa

Economy; International economics

A trade agreement involving 21 nations of Eastern and Southern Africa. It went into effect in 1994, replacing a Preferential Trade Area that had begun in 1982, with the aim of forming a free trade ...