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Questions tagged [economic-terms]

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1answer
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In the context of banking, how (if at all) do the terms 'capital', 'net worth', and 'equity' differ?

In banking, are the three terms capital, net worth, and equity simply identical and exact synonyms? If not, how do they differ? (Aside: And what about in other contexts? For example, does the same ...
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0answers
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What are the definitions of the terms value, wealth, and utility in economics?

Are there any definitions for the following three terms that are widely agreed upon in economics? Value Wealth Utility In particular, are these terms identical? If not, what differentiates them? I ...
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2answers
51 views

Is there a super term for goods/products and services?

A business can sell "goods" (/"products") and "services". Is there a term that encompasses both of these? Various words may fit (e.g. "offering"), but I'm looking for the technical term, if there is ...
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1answer
43 views

Correct scientific term to describe this system property

I am from a non-economic background so please bare with me. I have a crowdsourcing system that enables businesses to request individuals to perform certain tasks in exchange for a monetary payment. ...
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1answer
3k views

What is the “gross national saving” for?

I don't understand what the term Gross National Saving is for. According to the world factbook, it represents the following: Gross national saving is derived by ...
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1answer
34 views

Is there an economic term that means the same thing as “personal inflation”

I don't have anything even close to what would be considered formal education in terms of economics, so the term "personal inflation," is just something I completely made up. What I mean by personal ...
7
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1answer
305 views

Great “constants” of economics

Question What are the great "constants" of economics? Background In his Structural Slumps (Chapter 3, p.20), Phelps refers to the great "constants" of economics. He explains that the natural ...
2
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1answer
29 views

What is banking compliance

I'm not sure if I'm using the term correctly but there's something that's referred to as compliance in banking. Am I correct to understand that it's the process of obeying the laws and regulatory ...
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2answers
60 views

Elasticity and its types

Does 'infinitely elastic' and 'inelastic' pertain to same meaning? What is the difference between them? Please explain in brief.
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3answers
109 views

What is the difference between a Start-Up and a small company which is not a Start-Up?

What exactly makes a small and youg company a "Start-Up", among other small and young companies which are not necessarly start-ups?
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1answer
193 views

What term/theory describes more efficient utilization of a resource?

I may be asking the wrong question here, but I wonder if there is a term/theory that describes/studies the evolution of an economy that continually improves the utilization and allocation of certain ...
5
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1answer
107 views

Why was 'structural' chosen to mean 'structural unemployment'?

Source: Economics (3 ed, 2014) by N Gregory Mankiw, Mark P. Taylor structural unemployment [=] unemployment that results because the number of jobs available in some labour markets is ...
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1answer
101 views

Introductory or Primer text on Economics?

I've been meaning to learn more about economics, and am looking for an introductory text or a primer on the topic. I've already taken a subject on this back in high school, but I guess what I'm ...
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3answers
142 views

What does 'intelligent money' mean?

Is 'intelligent money' or 'smart money' an economic term, and if yes, what does it refer to?
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5answers
481 views

Why (neoclassical) economic models have no profits, unlike the real world?

Consider a simple neoclassical model of an economy populated by firms with a constant returns to scale production function, using homogeneous labour and capital. Firms are equal, and are price takers ...
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3answers
1k views

competitive equilibrium, Walrasian equilibrium, Walrasian auction

There are several sellers holding some indivisible goods, and several potential buyers with different valuations for these goods. I need to calculate the Walrasian equilibrium in this scenario, but ...
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3answers
42k views

What is the difference between intensive margin and extensive margin in labor economics?

What is the difference between intensive margin and extensive margin in labor economics, or general RBC model, where we talk about labor-hours supplied changing with extensive margin or intensive ...
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2answers
106 views

Why are ecology and economics seemingly disjunct topics?

The words ecology and economy are very similar. Ecology derives from the words οἶκος + λογία, i.e. the study of the house/household. Economy derives from the words οἶκος + νόμος, i.e. the laws of ...
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2answers
149 views

How Do Economists Quantify Contagion?

In the context of international financial crises, what mathematical methods have Economists employed in order to quantify financial contagion? Note: For a working definition of contagion I'll use the ...