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The Economics Game

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    (Original post by milkytea)
    Turnover - Total revenue accumulated by a business over a certain time
    Regional policy- aims to reduce structural unemployment by providing incentives for firms to move into the area
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    (Original post by Swayum)
    Diamond-Dyvbig Banking Model - a model to explain why there are bank runs
    Liquidity - a measure of how easily an asset can be spent/cashed in.
    EDIT - Too late.
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    Demerit good- a good which is overprovided by the mechanism
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    (Original post by Swayum)
    Diamond-Dyvbig Banking Model - a model to explain why there are bank runs
    Your terms are awesome. :eek:

    Land - natural resources in an economy (a factor of a production).
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    (Original post by tateco)
    Thatcherism - supply side policies and reduced involvement of the government
    Malthusian Growth Model - a model of economic growth that says the growth rate of population is solely a function of consumption.
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    (Original post by nerimon18)
    Demerit good- a good which is overprovided by the mechanism
    Deflation - Fall in the general price level.
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    Market failure- when the price mechanism causes an inefficient allocation of resources.
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    (Original post by tateco)
    Thatcherism - supply side policies and reduced involvement of the government
    Monopolistic competition-A form of market structure, examples include hairdressers and local shops.
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    (Original post by MrEboueEmmanuel)
    Monopolistic competition-A form of market structure, examples include hairdressers and local shops.
    Net exports - exports minus imports

    (thank god for the word net, by the way we've had de-merit good about 5 times already! )
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    (Original post by MrEboueEmmanuel)
    Monopolistic competition-A form of market structure, examples include hairdressers and local shops.
    Nominal GDP - output measured in current prices, not adjusted according to inflation.
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    (Original post by ColdVein)
    Nash Equilibrium
    Market failure - where a free market mechanism fails to allocate resources efficiently.
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    Labour immobility- the difficulty to move from one job to another both geographically and occupationally.
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    (Original post by tateco)
    Net exports - exports minus imports

    (thank god for the word net, by the way we've had de-merit good about 5 times already! )
    Saving - Money earned which isn't spent.
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    (Original post by Groat)
    Nominal GDP - output measured in current prices, not adjusted according to inflation.
    Protectionism - a policy adopted by domestic governments to protect local firms
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    (Original post by Nextmove)
    Saving - Money earned which isn't spent.
    Geographical immobility - when the labour market fails due to skills being in the wrong areas (or too focused in one area), an example of structural unemployment
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    Gold- It's a Commodity
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    (Original post by tateco)
    Protectionism - a policy adopted by domestic governments to protect local firms
    Market capitalisation - the market value of a company's shares (share price * number of shares).
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    (Original post by hemant1)
    Gold- It's a Commodity
    Direct tax.
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    Why does everything in economics end in a d, y or n
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    (Original post by Groat)
    Direct tax.
    X-inefficiency - efficiency isn't achieved due to lack of competitive pressure

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Updated: June 15, 2012
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