Economic Glossary
Economic Glossary
20 terms
My field of study is economics. I chose this because economics is very important in the world, and it is an area that fascinates me. Plus, several career paths are accessible in the economy, such as accountant, banker, economist, etc. So, I make a list of 20 words to help, or to understand certain specific words related to economics.
- autarky
- Economic independance or self-suffiency.
- behavioral economics
- A method of economic analysis that applies psychological insights into human behavior to explain economic decision-making.
- budget
- An estimate of income and expenditure for a set period of time.
- capital
- The wealth in form of money or other assets owned by a person.
- cryptocurrency
- A digital currency in which transactions are verified.
- debt
- Something, typically money, that is owed or due.
- deflation
- Reduction of the general level of prices.
- demand
- An economic concept that relates to a consumer's desire to purchase goods and services and willingness to pay a specific price for them.
- economic crises
- A situation where the value of assets drop rapidly.
- environmental economics
- The study of the efficient allocation and protection of the world's limited natural resources.
- fiscal
- Relating to gouvernment revenue, especially taxes.
- gross domestic product (PIB)
- The total of value of goods produced and services provided in a country during one year.
- hyperinflation
- Monetary inflation occuring at a very high rate.
- inflation
- A general increases in prices and fall in the purchasing value of money.
- investment
- The action or process of investing money for profit.
- market
- An economic system where two force direct the production of goods and services.
- public finance
- The monetary resources available to gouvernments.
- tax havens
- A country or independant area where taxes are levied at a low rate.
- taxation
- The levying of tax.
- unemployment
- The state of being unemployed.