Economics

Items

• consumption

  The purchase and use of goods and services by households to satisfy their needs and wants.
• contract

  A bilateral arrangement where two parties make reciprocal commitments, forming a coordination mechanism.
• corporation

  A distinct legal entity owned by shareholders, designed to conduct business for profit or non- profit purposes.
• cost of production

  All expenses a company incurs when manufacturing a product or providing a service.
• current transfer

  Transactions involving the transfer of goods, services, or financial items between parties without a quid pro quo (something of economic value in return).
• current transfer

  Is a one-way financial payment between a resident and non-resident, where no goods, services or assets are exchanged in return.
• deficit

  A situation where expenses exceed income or revenue.
• deficit financing

  A situation where a government finances its spending by borrowing rather than raising taxes to cover a budget deficit.
• demand

  The desire and ability of consumers to purchase a specific good or service at a particular price.
• demand deposit

  Money deposited in a bank account that can be withdrawn "on demand," meaning without any advance notice or penalty,
• demerit goods

  Goods whose consumption is harmful to the consumer or society.
• depression

  A severe and prolonged downturn in economic activity, significantly worse than a recession.
• diminishing utility

  As consumption of a good or service increases, the satisfaction derived from each additional unit decreases.
• direct investment

  An investment made by a company or individual from one country into a business or entity in another country.
• direct selling

  A business model where products or services are sold directly to consumers outside of traditional retail settings.
• discount

  A reduction in price of a good or service.
• discount house

  A financial institution that specializes in buying and selling short-term debt instruments like treasury bills and commercial paper.
• dismissal pay

  Compensation an employer provides to an employee upon termination of employment, typically for reasons beyond the employee's control, such as business restructuring or economic downturns.
• distribution

  How resources like income, wealth, or output are divided among individuals or groups within an economy.
• division of labour

  The process of breaking down a production task into smaller, more specialized tasks, with each worker or group of workers focusing on a particular aspect of the overall production process.
• domestic production

  Production of goods and services within a country's borders.
• doomsday strike

  A concerted refusal to work by employees, or the retardation or obstruction of work, to remedy a grievance or resolve a dispute.
• door-to-door selling

  An in-person sales method used for sales, marketing, advertising, and campaigning.
• double counting

  Incorrectly including the same item or transaction more than once when calculating a total.
• dumping

  The practice where a company or country sells goods in a foreign market at a price lower than the price they charge in their domestic market or below their cost of production.