International economics

International economics

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

Industry: Economy

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International economics

Complete specialisation

Economy; International economics

1. Non-production of some of the goods that a country consumes, as in definition 2 of specialization. 2. Production only of goods that are exported or nontraded, but none that compete with imports. ...

Composite currency

Economy; International economics

A currency defined as a specified combination of two or more currencies, normally existing only as a unit of account rather than as a physical currency. Examples include the SDR and the ECU.

Composite good

Economy; International economics

A fictional good that is used in economic analysis to stand in for a large number of goods, usually all other goods than the one that is the focus of attention.

Compound tariff

Economy; International economics

A tariff that combines both a specific and an ad valorem component. Thus, on an import with quantity ''q'' and price ''p'', a compound tariff collects a revenue equal to ''t s q + t a pq'', where ''t ...

Compulsory licencing

Economy; International economics

A legal requirement for the owner of a patent to let other firms produce its product, under specified terms. Countries sometimes require foreign patent holders to licence domestic firms so as to ...

Comvariance

Economy; International economics

An analogue to covariance for three variables. For three variables ''x'', ''y'', and ''z'' with values ''x i '', ''y i '', ''z i '', ''i=''1,…,''n'', the comvariance is com(''x'',''y'',''z'') ...

Concentration ratio

Economy; International economics

A common measure of industry concentration, defined as the percent of sales in the industry accounted for by the largest ''n'' firms. ''n'' is some small number such as 4 or 6, and the result is ...