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basics of economics

Contributors in Economics


discount rate

Economy; Economics

The rate of interest charged by a central bank when lending to other financial institutions. It also refers to a rate of interest used when calculating discounted cashflow.

direct taxation

Economy; Economics

Taxes levied on the income or wealth of an individual or company. Contrast with indirect taxation. In much of the world, direct tax rates fell during the 1980s and 1990s, partly because some ...

diminishing returns

Economy; Economics

The more you have, the smaller is the extra benefit you get from having even more; also known as diseconomies of scale (see economies of scale). For instance, when workers have a lot of capital ...

development economics

Economy; Economics

Spawned by the end of the colonial era in the 1950s and 1960s, a whole branch of economic theory grew up around the question of how to promote economic development in poor countries. The proposition ...

developing countries

Economy; Economics

A euphemism for the world’s poor countries, also known, often optimistically, as emerging economies. Some four-fifths of the world’s 6 billion people already live in developing countries, many of ...


Economy; Economics

A sudden fall in the value of a currency against other currencies. Strictly, devaluation refers only to sharp falls in a currency within a fixed exchange rate system. Also it usually refers to a ...


Economy; Economics

Financial assets that “derive” their value from other assets. For example, an option to buy a share is derived from the share. Some politicians and others responsible for financial regulation blame ...

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