The Student Room Group
Uni students - Complete our survey >>
Uni students - Complete our survey >>
Uni students - Complete our survey >>

The Economics Game

Scroll to see replies

Reply 140
Avatar for hemant1
hemant1
11
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


Income elasticity of demand= The responsiveness to demand with a change in income.
Reply 141
Avatar for hemant1
hemant1
11
Original post by Nextmove
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.


Normative statement- value judgement
Original post by hemant1
Normative statement- value judgement


Negative wealth effect-wealth effect in reverse
Original post by MrEboueEmmanuel
Negative wealth effect-wealth effect in reverse


terms of trade-measures the rate of exchange of one good or service
Reply 144
Avatar for Nextmove
Nextmove
Original post by hemant1
Normative statement- value judgement


Natural resources - Resources generated from the planet which can have value
Original post by Nextmove
Natural resources - Resources generated from the planet which can have value


Economy- Area where goods and services are produced
Reply 146
Avatar for hemant1
hemant1
11
Original post by Nextmove
Natural resources - Resources generated from the planet which can have value


Efficient- Achieving maximum productivity with minimum waste
Reply 147
Avatar for Nextmove
Nextmove
Original post by MrEboueEmmanuel
Economy- Area where goods and services are produced


Money Supply - The amount of money in an economy.
Reply 148
Avatar for hemant1
hemant1
11
Original post by MrEboueEmmanuel
Economy- Area where goods and services are produced


Market failure- Private cost>Social cost
Reply 149
Avatar for hemant1
hemant1
11
Original post by Nextmove
Money Supply - The amount of money in an economy.


Labour
Reply 150
Avatar for Nextmove
Nextmove
Original post by hemant1
Market failure- Private cost>Social cost


Repo-rate - Some rate the central bank uses for something... Cool definition right?
Original post by Nextmove
Repo-rate - Some rate the central bank uses for something... Cool definition right?


Transmission Mechanism.
When changes in the money supply affects Demand in an economy.
(edited 12 years ago)
Keynes Effect: As prices fall, a given nominal amount of money will be a larger real amount. Consequently the interest rate would fall and investment demanded rise.
Reply 153
Avatar for Nextmove
Nextmove
Original post by tijuthomas
Transmission Mechanism.
When changes in the money supply affects Demand in an economy.


Trust me! The dominoes game is over!

How many more T words can possibly exist in economics?

EDIT: sure as hell proved me wrong
Reply 154
Avatar for hemant1
hemant1
11
I give up for now >,<
I'm gonna go revise Maths :l
Original post by DarkSenrine
Keynes Effect: As prices fall, a given nominal amount of money will be a larger real amount. Consequently the interest rate would fall and investment demanded rise.


Contestable market-When there are no or very little barriers to entry
Reply 156
Avatar for Nextmove
Nextmove
Original post by tijuthomas
Transmission Mechanism.
When changes in the money supply affects Demand in an economy.


Ok now i'm going for a possible one since I cant think of any more with S

Stimulus package - Government intervention using fiscal policy to prevent economic crisis.
Original post by Nextmove
Ok now i'm going for a possible one since I cant think of any more with S

Stimulus package - Government intervention using fiscal policy to prevent economic crisis.


A favourite of mine,
Giffen Goods.
Goods for which, as price increases, demand increases.
Original post by tijuthomas
A favourite of mine,
Giffen Goods.
Goods for which, as price increases, demand increases.


dividends
Reply 159
Avatar for Nextmove
Nextmove
Original post by tijuthomas
A favourite of mine,
Giffen Goods.
Goods for which, as price increases, demand increases.


We've already had that one lol

I was hoping someone would say GAME THEORY! Obvious one!

Quick Reply

Related discussions

Latest

Trending

Trending

Articles for you