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The Economics Game

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    Elasticity
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    (Original post by abisolaay)
    Elasticity
    Terms of trade - Measures the prices of exports from a country compared to the prices of imports into a country
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    (Original post by Joseanne16)
    Terms of trade - Measures the prices of exports from a country compared to the prices of imports into a country
    Demand Pull Inflation.
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    Organisational Slack
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    The marginal perpensity to consume
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    this thread is informative!
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    (Original post by neiljeff123)
    Y is hard! I cant think of any
    First reply and seems someone (and others) failed to read the OP.

    "which starts with the second-last letter of the word from the above post. (To avoid the numerous words ending with y in economics)."
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    (Original post by CityTrader)
    The marginal perpensity to consume
    Monetary Policy Committee (a different sort of MPC to the one above)
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    (Original post by Conorrr9)
    Monetary Policy Committee (a different sort of MPC to the one above)
    Engel curve.
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    (Original post by Bax-man)
    Engel curve.
    Variables
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    (Original post by franzk)
    Variables
    Equilibria (where more than one equilibrium exists e.g. 'multiple equilibria')
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    (Original post by Foo.mp3)
    Equilibria (where more than one equilibrium exists e.g. 'multiple equilibria')
    Inelastic
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    (Original post by franzk)
    Inelastic
    Information Asymmetry (the lack of complete, or 'perfect' information, a condition of perfect competition)
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    (Original post by Foo.mp3)
    Information Asymmetry (the lack of complete, or 'perfect' information, a condition of perfect competition)
    Rational - Function of the price mechanism where resources are allocated to those prepared to pay the highest price
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    leakage-the loss of capital/resources
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    (Original post by franzk)
    Rational - Function of the price mechanism where resources are allocated to those prepared to pay the highest price
    Adverse Selection (The increased propensity to prefer/select something based on a limited or skewed understanding of the true nature of that something as it is 'bundled' e.g. 'market for lemons')
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    Open Market Operations
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    (Original post by Foo.mp3)
    Adverse Selection (The increased propensity to prefer/select something based on a limited or skewed understanding of the true nature of that something as it is 'bundled' e.g. 'market for lemons')
    Opportunity cost - Value of the next best alternative forgone.
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    says law
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    Absolute advantage = The ability to produce a good or service at a lower cost per unit than any other agent produces that good or service.

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Updated: June 15, 2012
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