The Student Room Group

The Economics Game

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Reply 120
Original post by nerimon18
Utility


Total revenue - I haven't really revised a definition but
The total in which a firm makes.
(edited 12 years ago)
Reply 121
Original post by nerimon18
Utility


Transfer Payment - A payment for which there is no corresponding output.
Reply 122
Original post by nerimon18
Utility


- the satisfaction gained from the consumption of a good

Tax - a cost imposed by the government on 'things' to discourage consumption and increase government revenue
Reply 123
Original post by tateco
- the satisfaction gained from the consumption of a good

Tax - a cost imposed by the government on 'things' to discourage consumption and increase government revenue


Aggregate demand - Total demand in an economy
Original post by tateco
- the satisfaction gained from the consumption of a good

Tax - a cost imposed by the government on 'things' to discourage consumption and increase government revenue


Average cost-total cost divided by quantity
Reply 125
Original post by Nextmove
Aggregate demand - Total demand in an economy


Negative externality

Some1 gimmie a definition :l
Reply 126
Original post by MrEboueEmmanuel
Average cost-total cost divided by quantity


Subsidy - a payment from a government to a producer ultimately to lower production costs
Reply 127
Original post by MrEboueEmmanuel
Average cost-total cost divided by quantity


Scarcity- unlimited wants compared to limited needs with finite resources.
Reply 128
Original post by tateco
Subsidy - a payment from a government to a producer ultimately to lower production costs


Derived demand

Need a definition for this as well :l
Original post by hemant1
Scarcity- unlimited wants compared to limited needs with finite resources.


Total profit- Total revenue - total cost
Reply 130
Original post by hemant1
Derived demand

Need a definition for this as well :l


Nominal GDP increase - Increase in GDP without taking out inflation
Reply 131
Original post by MrEboueEmmanuel
Total profit


Interest rate - the cost of borrowing money
Reply 132
Original post by mel3
Interest rate


Time lagg= Time taken to do something
Reply 133
Original post by MrEboueEmmanuel
Total profit- Total revenue - total cost


Investment - spending on capital that can be used repeatedly and continuously over several years to produce output
Reply 134
Original post by hemant1
Time lagg= Time taken to do something


Government spending - money spent by the government on the economy which is a component of aggregate demand
Reply 135
Original post by tateco
Investment - spending on capital that can be used repeatedly and continuously over several years to produce output


Non-excludable goods - the goods cannot be confined to those who have paid for it.
Reply 136
Original post by joshgoldman
Non-excludable goods - the goods cannot be confined to those who have paid for it.


Demand=Amount bought at a certain price+time period
Reply 137
Original post by joshgoldman
Non-excludable goods - the goods cannot be confined to those who have paid for it.


Life-cycle hypothesis - how spending changes over a life time and how it can influence the consumption of an economy

edit: My bad, didn't read the good bit, ah well, at least it brings the letter I into the game :P
Reply 138
Original post by joshgoldman
Non-excludable goods - the goods cannot be confined to those who have paid for it.


Demand Deficient unemployment - When there's not sufficient demand in an economy to generate more jobs.

Took a while but the D's are hard now. Hope that ones right couldn't explain it shorter than that.
Original post by tateco
Life-cycle hypothesis - how spending changes over a life time and how it can influence the consumption of an economy

edit: My bad, didn't read the good bit, ah well, at least it brings the letter I into the game :P


Injection- Injection of money into an economy in the form of government spending, exports and investment.

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