Monday, February 18, 2013

Economic Definitions

Absolute advantage: Where a coutry i sable to make water more output tan another(prenominal) countries using the homogeneous imput of factors of production.
Ad valorem taxes: an indirect tax where a given per centum is added to the price of a good /service
Administrative barriers: both administrative requirement that might prevent or mortify the amount of imports
Affegragate demand: s the total spending in the economy made by consumotion, investment, gov spending and net export spending
Aggregate supply: is the total supply of domestic goods or services by bussinness and giving medication including both consumer and capital goods
Allocative talent: Occurs where the marginal social cost of producing a good is advert to the marginal social benefit of the good to society.

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In other words occurs where the marginal cost of producing a good (including outer cost) is equal to the price charged to the consumers
Anti dumping: lesgislation to foster the economy of importing of a good at a price below the unit costs of production
Appreciation: is the maturation in the value of a currency at a floating exchange rate system
Appropriate technology: where technology caters to the particular social, environmental and economic characterictics os its users
Automatic stabilizers: features of government fiscal policy; eg unemployment benefits or direct tax revenues that mechanically counter balance flunctuation in economic activities.
Balance of payments: the chronicle record of all transaction (debits and credits) between household, firms and government and the pass off of the world
Balance bud startle: where the planned gov spending is equal to plannes gov expenditure.
Barriers to disdain: anything which avoids free trade between two countries such ad tariffs
Barriers to entry: barriers that prevent a new fgirm entering a markey, such as economies of scale
Break evenm price: price where total revenue is equal to atc. Below this price, the frim will shut tear down in the long run
Budget deficit: where...If you want to get a full essay, order it on our website: Orderessay



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