Economics

Items

• accelerated depreciation

  An accounting method where businesses deduct a larger portion of an asset's cost in its early years of use, as compared to a more even distribution over the asset's lifespan.
• acceptor

  The person (or bank) who is expected to pay a cheque or draft when it is presented for payment.
• accident insurance

  A form of insurance policy that offers a payout when people experience injury or death due to an accident.
• added value

  Increased value of a product as it passes through different production stages.
• economic agent(participant)

  An individual, firm, or organization that makes decisions or takes actions that affect the economy.
• allocation

  The process of distributing or assigning resources among different uses and individuals.
• allocative efficiency

  A situation where resources are distributed to produce the mix of goods and services that society most desires, maximizing overall social welfare.
• annuity period

  The length of time for which payments are made on an annuity, whether it's a fixed term (e.g., 5, 10, 15 years) or a lifetime period.
• anticipated interest

  The estimated total interest payments expected over the life of an investment or loan.
• auction market

  A trading environment where the price of an asset is determined through a process of bidding and offering, with the final price being the highest bid accepted by a seller
• average

  A number expressing the central value in a set of data, which is calculated by dividing the sum of the values in the set by their number.
• average fixed cost (afc)

  The total fixed cost of production divided by the quantity of output produced.
• average product

  The total output produced per unit of a variable input, such as labour, capital, or materials.
• average total cost

  The total costs (both fixed costs and variable costs) divided by the total quantity produced.
• average variable cost

  The total variable cost of production divided by the quantity of output produced.
• balance of payments

  A record of all economic transactions between a country and the rest of the world over a specific period, typically a year or a quarter.
• bank guaranteed cheque

  A type of cheque where the bank guarantees the payment, meaning it will honour the cheque even if the account holder doesn't have sufficient funds.
• basing-point system

  A pricing method where the total price of a product includes a fixed shipping charge, regardless of the actual origin of the shipment, based on a designated geographic location called the "basing point".
• bilateral monopoly

  A market structure with only one supplier and one buyer.
• bill of exchange

  A written order, signed by the issuer (drawer), directing a second party (drawee) to pay a sum of money to a third party (payee) on demand or at a specific future date.
• blank endorsement

  The payee's signature on the back, without any additional instructions or payee specified.
• bonds

  Debt securities, representing a loan made by an investor (bondholder) to a borrower (issuer, such as a company or government).
• boom

  A period of strong economic expansion characterized by rapid growth, high employment, and rising prices.
• boycott

  A collective refusal to deal with a specific business, person, or organization, usually to express disapproval or protest.
• brand

  A name, term, design, symbol, or any other feature that distinguishes a seller's good or service from those of other sellers.