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basics of economics

Contributors in Economics



Economy; Economics

Cutting red tape. The process of removing legal or quasi-legal restrictions on the amount of competition, the sorts of business done, or the prices charged within a particular industry. During the ...


Economy; Economics

A bad, depressingly prolonged recession in economic activity. The textbook definition of a recession is two consecutive quarters of declining output. A slump is where output falls by at least 10%; a ...


Economy; Economics

A fall in the value of an asset or a currency; the opposite of appreciation.

deposit insurance

Economy; Economics

Protection for your savings, in case your bank goes Bust. Arrangements vary around the world, but in most countries deposit insurance is required by the government and paid for by banks (and, ...


Economy; Economics

People, and the statistical study of them. In the 200 years since Thomas Malthus forecast that population growth would result in mass starvation, dire predictions based on demographic trends have ...

demand curve

Economy; Economics

A graph showing the relationship between the price of a good and the amount of demand for it at different prices. (See also supply curve. )


Economy; Economics

One of the two words economists use most; the other is supply. These are the twin driving forces of the market economy. Demand is not just about measuring what people want; for economists, it refers ...

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