International economics

International economics

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

Industry: Economy

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International economics

Inferior good

Economy; International economics

A good the demand for which falls as income rises. The income elasticity of demand is therefore negative.

Inflation targeting

Economy; International economics

A principle of monetary policy that the rate of inflation should be kept within a pre-specified range, using expansionary policy when the rate is below that range and contractionary policy above it.

Input

Economy; International economics

1. Anything that is used in a production process, including both the services of primary factors and intermediate inputs. 2. Sometimes input refers only to intermediate inputs, as distinct from ...

Homogeneous

Economy; International economics

1. Having the property that all constituent elements are the same, as a homogeneous good. Contrasts with heterogeneous. 2. Possessing a certain form of uniformity, as a homogeneous function.

Homogeneous function

Economy; International economics

A function with the property that multiplying all arguments by a constant changes the value of the function by a monotonic function of that constant: ''F''(''V'')=''g''()''F''(''V''), where ...

Homogeneous good

Economy; International economics

A good all units of which are the same; a homogeneous product.

A function of two or more arguments is homothetic if all ratios of its first partial derivatives depend only on the ratios of the arguments, not their levels. For competitive consumers or producers ...