Glossary of Economics

20 Economics terms

Hi, my name is Michée. I'm currently studying Social Science with Mathematics and This glossary contains words frequently used in one of the fields I am interested in. This will help us get familiar with those words and have the right pronunciation.

affecting
adjective
To influence someone or something.
Example: Lupins are a very competitive crop, are able to suppress weeds and are tolerant to most diseases AFFECTING cereals.
fr: affectant
agent
noun
Something that produces or is capable of producing an effect.
Example: Therefore the new additions focused on driving the change could be described as external change AGENTs whose role is crucial in leading and facilitating the change.
fr: agent
analyze
verb
Examine methodically and in detail the constitution or structure of (something, especially information), typically for purposes of explanation and interpretation.
Example: Then the production manager needs to collect and ANALYZE historical data for selecting a forecast approach.
fr: analyse
analyzing picture
capital
noun
Wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose such as starting a company or investing.
Example: Merger would increase the CAPITAL available and lead to more investments and more product developments.
fr: capital
consumption
noun
the using up of a resource.
Example: Alan O'Rourke, information officer: 2000 May 27; 320(7247): 1469. 2000, British Medical Journal: VAT and fat: Will sales tax influence CONSUMPTION?
fr: consommation
currency
noun
A system of money in general use in a particular country.
Example: In fact, all 10 nations are currently involved in negotiations and most have drawn up agreements to prepare for future common CURRENCY implementation
fr: devise
currency picture
distribution
noun
The action or process of supplying goods to stores and other businesses that sell to consumers.
Example: Gained competitive advantages through product development and better management of the logistics of the supply and DISTRIBUTION chains.
fr: distribution
economic growth
noun
An increase in the amount of goods and services produced per head of the population over a period of time.
Example: A further augmentation of the Solow model and the empirics of ECONOMIC GROWTH for OECD countries.
fr: croissance économique
economy
noun
The wealth and resources of a country or region, especially in terms of the production and consumption of goods and services.
Example: The rural ECONOMY has been greatly affected by the 2001 outbreak of foot and mouth disease.
fr: économie
economy image
firm
noun
A business concern, especially one involving a partnership of two or more people.
Example: The contract provides steady and guaranteed revenue for the FIRM, which may not be the case for the other scenarios where many other market factors may affect sales.
fr: entreprise
Firm
impact
noun
have a strong effect on someone or something.
Example: The Science Council is vital to ensure the relevance of CGIAR supported research, enhance its quality, assess its IMPACT and help to mobilise global scientific expertise.
fr: impact
inflation
noun
A general increase in prices and fall in the purchasing value of money.
Example: Argentina's negative growth in this period can be linked to the transition from a pegged to a floating exchange rate system with consequent INFLATION (25.9% in 2002, 13.4% in 2003), generating economic instability.
fr: inflation
inflation picture
investment
noun
The action or process of investing money for profit or material result.
Example: All of the above measures help to create and maintain a predictable domestic macroeconomic environment which is important in the promotion of resource-allocation decisions, INVESTMENT and growth.
fr: investissement
macroeconomics
noun
The part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
Example: This debate must be distinguished from Keynesian demand-side MACROECONOMICS, which is more agreed upon.
fr: macroéconomie
market
noun
An area or arena in which commercial dealings are conducted.
Example: As a farm manager, my business not only competes with the national MARKET, but also within the global MARKET. There may be occurrences abroad that can affect the UK MARKET.
fr: marché
microeconomics
noun
The part of economics concerned with single factors and the effects of individual decisions.
Example: It represents an attempt to deconstruct the dichotomy between nature and culture based upon an ecological perspective, analysing human behaviour in terms of natural selection and MICROECONOMICS.
fr: microéconomie
normative
adjective
Establishing, relating to, or deriving from a standard or norm, especially of behavior.
Example: The major difference between these two is that the NORMATIVE influence can pressure people to conform despite conflicting private attitudes and contradictory group norms
fr: normatif
outcome
noun
The way a thing turns out; a consequence.
Example: The project OUTCOME is resting on these peoples and organisations shoulders and their integrative contribution will add the extra information not available in literature
fr: résultat
production
noun
The action of making or manufacturing from components or raw materials, or the process of being so manufactured.
Example: The basis of its farming activities is milk PRODUCTION, and at one time over 300 cows were milked.
fr: production
resource
noun
A stock or supply of money, materials, staff, and other assets that can be drawn on by a person or organization in order to function effectively.
Example: The objectives of the project were sustainable and coordinated social, economic, RESOURCE and environmental development of small watersheds and this proved successful.
fr: ressource