Economics

Economics

basics of economics

Industry: Economy

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Economics

barriers to entry

Economy; Economics

How firms keep out competition--an important source of incumbent advantage. There are four main sorts of barriers. * A firm may own a crucial resource, such as an oil well, or it may have an ...

bankruptcy

Economy; Economics

When a court judges that a debtor is unable to make the payments owed to a creditor. How bankrupts are treated can affect economic growth. If bankrupts are punished too severely, would-be ...

bank

Economy; Economics

Starting out as places that would guard your money, banks became the main source of credit creation. Increasingly, however, borrowers are turning to the financial markets and to non-savings ...

balanced budget

Economy; Economics

When total public-sector spending equals total government income during the same period from taxes and charges for public services. Politicians in some countries, such as the United States, have ...

balance of payments

Economy; Economics

The total of all the money coming into a country from abroad less all of the money going out of the country during the same period. This is usually broken down into the current account and the ...

backwardation

Economy; Economics

When a commodity is valued more highly in a spot market (that is, when it is for delivery today) than in a futures market (for delivery at some point in the future). Normally, interest costs mean ...

A number that is calculated to summarize a group of numbers. The most commonly used average is the mean, the sum of the numbers divided by however many numbers there are in the group. The median is ...