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The Economics Game

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    (Original post by thegenius31416)
    This thread is too busy, I don't know who has just gone because someone posts before I can reply, haha
    Just keep going lol! Just pick the last one and go with it!
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    (Original post by Groat)
    I'm not sure it matters too much.



    Yield curve.

    Equity (both meanings )
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    (Original post by Groat)
    I'm not sure it matters too much.



    Yield curve.
    External cost
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    (Original post by Groat)
    I'm not sure it matters too much.



    Yield curve.
    Economics - The study of the efficient allocation of scarce resources
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    (Original post by Nextmove)
    Economics - The study of the efficient allocation of scarce resources
    Substitute good - A good which is competing with another and has similar attributes.
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    (Original post by MrEboueEmmanuel)
    External cost
    Trade-in-goods (just to avoid another E?)
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    (Original post by Groat)
    Substitute good - A good which is competing with another and has similar attributes.
    Demand-deficient unemployment
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    (Original post by Groat)
    Substitute good - A good which is competing with another and has similar attributes.
    Demand - The quantity of goods purchased at a specific price at any given quantity
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    (Original post by tateco)
    Trade-in-goods (just to avoid another E?)
    Saving - disposable income minus spending.
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    (Original post by Groat)
    Saving - disposable income minus spending.
    Gross domestic product - the value of the output produced within the domestic boundaries of a country
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    (Original post by Groat)
    Saving - disposable income minus spending.
    Giffen Goods - A good which is consumed more the price of the good rises. This violates the law of demand.
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    (Original post by Nextmove)
    Giffen Goods - A good which is consumed more the price of the good rises. This violates the law of demand.
    I knew the definitions would help - I knew there were such goods but didn't know of their name. Thanks!

    (Original post by tateco)
    Gross domestic product - the value of the output produced within the domestic boundaries of a country
    Trend growth - the expected increase in potential output over time.
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    (Original post by Groat)
    Saving - disposable income minus spending.
    Gini coefficient-measure of inequality of a distribution, mainly used for income and wealth
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    (Original post by MrEboueEmmanuel)
    Gini coefficient-measure of inequality of a distribution, mainly used for income and wealth
    Trade-off - the decision on whether one good should be given up for another.
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    (Original post by Groat)

    Trend growth - the expected increase in potential output over time.
    Human Capital
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    (Original post by tateco)
    Human Capital
    Labour
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    (Original post by tateco)
    Human Capital

    Laffer Curve - A curve which represents the relationship between government revenue and the rates of taxation.
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    (Original post by tateco)
    Human Capital
    Lorenz curve- graphical representation of the proportionality of a distribution.
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    (Original post by Nextmove)
    Laffer Curve - A curve which represents the relationship between government revenue and the rates of taxation.
    Equilibrium - when supply and demand are balanced.
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    (Original post by Groat)
    Labour
    Revenue

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