10 Terms
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International economics
International trade theories, policies, finances and their effects on economic activities.
Industry: Economy
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International economics
Consumer price index
Economy; International economics
A price index for the goods purchased by consumers in an economy, usually based on only a small sample of what they consume. Commonly used to measure inflation. Contrasts with the implicit price ...
Consumption possibility frontier
Economy; International economics
A graph of the maximum quantities of goods (usually two) that an economy can consume in a specified situation, such as autarky and free trade. Used to illustrate the potential benefits from trade by ...
Contestable market
Economy; International economics
A market that, even though it has only a single or a small number of sellers, could readily admit more, so that the pricing behaviour of current sellers is constrained by the potential for entry. ...
Continuum model
Economy; International economics
A model in which some entities that are normally discrete and exist in finite numbers are modelled instead by a continuous variable. This can sometimes simplify the treatment of large numbers of ...
Continuum-of-goods model
Economy; International economics
A class of trade models in which goods are indexed by a continuous variable, approximating the case of very large numbers of goods. The classic, original examples are Dornbusch, Fischer, and ...
Contract curve
Economy; International economics
1. In an Edgeworth Box for consumption, the allocations of 2 goods to 2 consumers that are Pareto efficient. Starting with an allocation that may not be on the contract curve, it shows the ways that ...
Contracting party
Economy; International economics
A country that has signed the GATT. The term Contracting Parties with both words capitalised means all Contracting Parties acting jointly.
