The Student Room Group

The Economics Game

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Reply 20
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 :biggrin:


Just keep going lol! Just pick the last one and go with it!
Reply 21
Original post by Groat
I'm not sure it matters too much.



Yield curve.



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



Yield curve.


External cost
Reply 23
Original post by Groat
I'm not sure it matters too much.



Yield curve.


Economics - The study of the efficient allocation of scarce resources
Reply 24
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.
Reply 25
Original post by MrEboueEmmanuel
External cost


Trade-in-goods (just to avoid another E?)
Reply 26
Original post by Groat
Substitute good - A good which is competing with another and has similar attributes.


Demand-deficient unemployment
Reply 27
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
Reply 28
Original post by tateco
Trade-in-goods (just to avoid another E?)


Saving - disposable income minus spending.
Reply 29
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
Reply 30
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.
Reply 31
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.
Original post by Groat
Saving - disposable income minus spending.


Gini coefficient-measure of inequality of a distribution, mainly used for income and wealth
Reply 33
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.
Reply 34
Original post by Groat


Trend growth - the expected increase in potential output over time.


Human Capital
Reply 35
Original post by tateco
Human Capital


Labour
Reply 36
Original post by tateco
Human Capital



Laffer Curve - A curve which represents the relationship between government revenue and the rates of taxation.
Original post by tateco
Human Capital


Lorenz curve- graphical representation of the proportionality of a distribution.
Reply 38
Original post by Groat
Labour


Revenue
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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