Glossary of economics

A

Absolute advantage –

Adaptive expectations –

Aggregate demand –

Aggregate supply –

Aggregation problem –

Agent –

Agricultural economics –

Allocative efficiency –

Antitrust law –

Applied economics –

Autarky –

Automatic stabilizer –

Autonomous consumption –

Average cost –

Average fixed cost –

Average variable cost –

Average tax rate –

B

Balance of payments –

Balance of trade –

Balanced budget –

Bank –

Barriers to entry –

Barter –

Behavioral economics –

Bond –

Break-even point –

Budget deficit –

Budget set –

Budget surplus –

Business cycle –

Business economics –

Business sector –

C

Capacity utilization –

Capital –

Capital cost –

Capital flight –

Capital good –

Central bank –

Circular flow of income –

Circulation –

Competition law –

Computational economics –

Consumer choice –

Consumer confidence –

Consumer price index –

Consumer surplus –

Consumption –

Consumption function –

Convexity –

Cost-benefit analysis –

Cost curve –

Crowding out –

Cultural economics –

Currency –

Current account –

Cyclical unemployment –

D

Deadweight loss –

Deflation –

Deflator –

Demand deposit –

Demand shock –

Diminishing returns –

Depression –

Discretionary income –

Disposable income –

Dissaving –

Distribution –

Duopoly –

Dynamic stochastic general equilibrium –

E

Econometrics –

Economic efficiency –

Economic equilibrium –

Economic growth –

Economic indicator –

Economic model –

Economic rent –

Economic shortage –

Economic surplus –

Economic system –

Economics –

Economies of scale –

Economist –

Economy –

Effective demand –

Elasticity –

Environmental economics –

Excess supply –

Exchange rate –

Expected utility hypothesis –

Experimental economics –

Externality –

F

Factors of production –

Financial economics –

Fiscal policy –

Fixed cost –

Frictional unemployment –

Full employment –

Functions of money –

Future value –

G

General equilibrium theory –

General Theory of Employment, Interest and Money –

Goods and services –

Government spending –

Gross domestic product –

H

Hyperinflation –

I

Implicit cost –

Import quota –

Imports –

Income distribution –

Indifference curve –

Industrial organization –

Inflation –

Information economics –

Interest –

Interest rate –

International economics –

Intertemporal choice –

Investment –

IS–LM model –

K

Keynesian economics –

L

Labour economics –

Law of demand –

Law of increasing costs –

M

Macroeconomics –

Managerial economics –

Marginal cost –

Marginal product of labor –

Marginal propensity to consume –

Marginal revenue –

Marginal value –

Market –

Market basket –

Market economy –

Market failure –

Market structure –

Market system –

Microeconomics –

Monetary economics –

Monetary policy –

Monetary system –

Money –

Money supply –

Monopolistic competition –

Monopoly –

Monopsony –

Multipler –

N

Nash equilibrium –

Natural monopoly –

Natural resource economics –

Non-convexity –

O

Oligopoly –

Oligopsony –

Opportunity cost –

P

Perfect competition –

Preference –

Price elasticity of demand –

Price elasticity of supply –

Price index –

Price level –

Prime rate –

Producer surplus –

Product differentiation –

Production –

Production set –

Profit –

Public economics –

Public good –

Purchasing power parity –

Q

Quantity theory of money –

R

Rate of profit –

Rational expectations –

Recession –

Regional science –

Returns to scale –

Risk aversion –

S

Saving –

Scarcity –

Shortage –

Social choice theory –

Stagflation –

Substitution effect –

Structural unemployment –

Sunk costs –

Supply –

Supply and demand –

Supply shock –

T

Tax rate –

Theory of the firm –

Total cost –

Trade –

Trough –

U

Unemployment –

Utility –

V

Variable cost –

Velocity of money –

W

Wealth effect –

Willingness to accept –

Willingness to pay –

Y

Yield –

Z

Zero-sum –