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February 17 2019 / Rating: 2.7 / Views: 828
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Economic terms to know - Announcement INOMICS

They are used over and over again in the production process.

Benefits can take many forms, but the most common are monetary or happiness related. This is now referred to as the Clean Development Mechanism CDM to denote respect for developing countries right to develop. It is honestly one of the best I have encountered online for IB Economics revision. University students perform cost benefit analysis on a daily basis, by focusing on certain courses that they believe will be more important for them, while cutting the time spent studying or even attending courses that they see as less necessary. Now, with information about the best apps on the market, so can you.

Provider University Level Advanced Duration Self-paced Start Date Always on 15. Monoline bond insurers A financial guaranty insurance company that guarantees all scheduled interest and principal payments on the bonds it insures and writes no other line of insurance. GENERAL TOPICS There are some subjects every budding economist should understand. Economics deals with individual choice, but also with money and borrowing, production and consumption, trade and markets, employment and occupations, asset pricing, taxes and much more. Like Fannie Mae, Freddie Mac operates in the secondary mortgage market. However, if you are looking for some practice in the realm of market trends, this app is still a useful tool for understanding the ebb and flow of market behaviors. The answer is not easy, and before you dive into the stock market, it s. It gave birth to the definition of economics as the science of studying human behaviour as a relationship between ends and scarce means that have alternative uses.

Or does the mere mention of those acronyms make you go, Huh?


It is even dangerous to justify health investments by appealing to their effect on economic outcomes, since such investments may pay off best for young adults and thereby lead to discrimination against the very young and the very old.

Everything Is in the Incentives Incentives are part of costs and benefits and rational expectations, but they are so important that they are worth further examination. Nonrivalry in consumption The property of a good or service whereby one person s benefit from a certain good or service does not reduce the benefit available to others.

A must listen that will help readers uncover hidden opportunities. The higher the score, the more likely a borrower is to repay loans debts.

Companies may compete with each other for markets and customers for raw materials for labour and for capital.

You ll probably spend part of your paycheck on relative necessities such as rent, electricity, clothing and food. Treasury securities Bonds, notes, and other debt instruments sold by the U.


Debit card A plastic card similar to a credit card that allows money to be withdrawn or payments made directly from the holder s bank account.


Change in Quantity Supplied A price change causing movement along the supply curve but no shift in the position of the curve itself. Travelers checks Checks issued by a financial institution which function as cash but are protected against loss or theft. Profit This is the surplus left over after a company sells its output, and pays off the cost of production including labour costs, raw materials, and a proportional share of its capital equipment.

Nominal Interest Rate The cost inflicted by inflation eroding the value of stored dollars plus the forgone real interest rate the opportunity cost of holding money.

Diminishing Marginal Utility the principle that says that as an individual consumes more and more of a good, each successive unit increases her utility, or enjoyment, less and less Diminishing Relative Value The principle that if all other factors remain constant, and individuals relative value of a good will decline as more of that good is obtained. A pair of goods where the quantity demanded of one increases when the price of a related good decreases.


Annuity equation FV A i 1 i n- 1, where FV Future value is the amount that s not known but will be solved in the calculation. If we lose a species in the wild, such as the Bengal tiger, very few of us will have our welfare directly affected by not being able to see it, photograph it or hear it. Shares Financial assets which represent the ownership of a small proportion of the total equity or net wealth of a corporation. Direct deposit An electronic transaction in which money is deposited directly into a payee s bank account from a payer s bank account.


Failure is one word to which economists give a fairly exact meaning that may not match the commonsense notion doctors are likely to have, and it is important, as in any dialog, to develop a clear, shared vocabulary. Choropleth map A map that uses shading, color, or symbols to convey a quantity or property for an area. Organize and share selected lessons with your class. The ability of a consumer to fully identify his her preference for any combination or bundle of goods and services. Human capital The knowledge and skills that people obtain through education, experience, and training.

Travelers checks Checks issued by a financial institution which function as cash but are protected against loss or theft. Index fund A mutual fund with the objective to match the composite investment performance of a large group of stocks or bonds such as those represented by the Standard and Poor s 500 index. An economic concept that refers to the notion that additional units consumed of a particular commodity provide less and less additional satisfaction relative to previous units consumed. Card reader A device designed to read or decode the encoding on plastic cards. In the banking system alone, corporate loans equivalent to around half of one year s GDP went bad- a destruction of savings on a scale more usually associated with a full-scale war. Medium of exchange Anything that is generally acceptable in exchange for goods and services., consumption of goods and services or the sale of factor services.


P Absolute Poverty Poverty defined with respect to an absolute material standard of living. This weekly podcast covers current topics in the markets, economy and in finance. What you need to know before you write Avoid writing anything that isn t going to earn you marks. We ll take a safe example, however, of you guessed it a brewery.

People make rational choices If you drove to work school today, I bet you would disagree with this one because of all of the irrational drivers out there. Employers must provide a W-2 to employees by the end of January for the previous year s employment to report annual income and withholding on the employees tax returns.

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