English dictionary of Economics

English dictionary of Economics

 English dictionary of Economics

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account ; business relationship
a formal contractual relationship established to provide for regular banking or brokerage or business services; "he asked to see the executive who handled his account"

accountancy ; accounting
the occupation of maintaining and auditing records and preparing financial reports for a business

adjustment ; accommodation
making or becoming suitable; adjusting to circumstances

the act of governing; exercising authority; "regulations for the governing of state prisons"; "he had considerable experience of government"

advertisement ; ad ; advertising ; advert
a public promotion of some product or service

agenda ; schedule
a temporally organized plan for matters to be attended to

alteration ; modification ; adjustment
the act of making something different (as e.g. the size of a garment)

one of a number of things from which only one can be chosen; "what option did I have?"; "there no other alternative"; "my only choice is to refuse"

an unpaid overdue debt

auction ; auction sale
the public sale of something to the highest bidder

a state of equilibrium

balance of payments ; balance of international payments
a system of recording all of a country's economic transactions with the rest of the world over a period of one year; "a favorable balance of payments exists when more payments are coming in than going out"

balance sheet
a record of the financial situation of an institution on a particular date by listing its assets and the claims against those assets

a financial institution that accepts deposits and channels the money into lending activities; "he cashed a check at the bank"; "that bank holds the mortgage on my home"

engaging in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit etc.

banknote ; bill ; note ; bank bill ; bank note ; greenback
a piece of paper money (especially one issued by a central bank); "he peeled off five one-thousand-zloty notes"

bankrupt ; insolvent
someone who has insufficient assets to cover their debts

bankrupt ; ruin
reduce to bankruptcy; "My daughter's fancy wedding is going to break me!"; "The slump in the financial markets smashed him"

bankruptcy ; failure
inability to discharge all your debts as they come due; "the company had to declare bankruptcy"; "fraudulent loans led to the failure of many banks"

bargain ; deal
an agreement between parties (usually arrived at after discussion) fixing obligations of each; "he made a bargain with the devil"; "he rose to prominence through a series of shady deals"

barter ; swap
an equal exchange; "we had no money so we had to live by barter"

billboard ; hoarding
large outdoor signboard

bonus ; incentive
an additional payment (or other remuneration) to employees as a means of increasing output

a sum of money allocated for a particular purpose; "the laboratory runs on a budget of a million a year"

burden ; weight ; weight down
weight down with a load

a commercial or industrial enterprise and the people who constitute it; "he bought his brother's business"; "a small mom-and-pop business"; "a racially integrated business concern"

business enterprise ; business
the activity of providing goods and services involving financial and commercial and industrial aspects; "computers are now widely used in business"

buy ; purchase
obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; "She buys for the big department store"

a seat of government

capital ; working capital
assets available for use in the production of further assets

capitalism ; capitalist economy
an economic system based on private ownership of capital

cash ; cash in
exchange for cash; "I cashed the check as soon as it arrived in the mail"

cash ; hard cash
money in the form of bills or coins; "there is a desperate shortage of hard cash"

cash ; immediate payment
prompt payment for goods or services in currency or by check

cash machine ; cash dispenser ; automated teller machine
an unattended machine (outside some banks) that dispenses money when a personal coded card is used

catalyst ; accelerator
(chemistry) a substance that initiates or accelerates a chemical reaction without itself being affected

central bank
a government monetary authority that issues currency and regulates the supply of credit and holds the reserves of other banks and sells new issues of securities for the government

coins of small denomination regarded collectively; "he had a pocketful of change"

cheap ; inexpensive
relatively low in price or charging low prices; "it would have been cheap at twice the price"; "inexpensive family restaurants"

a written order directing a bank to pay money; "he paid all his bills by check"

choice ; selection
the act of choosing or selecting; "your choice of colors was unfortunate"; "you can take your pick"

several things grouped together or considered as a whole

transactions (sales and purchases) having the objective of supplying commodities (goods and services)

articles of commerce

the strength of a solution; number of molecules of a substance in a given volume

concession ; grant
a contract granting the right to operate a subsidiary business; "he got the beer concession at the ball park"

confirmation ; verification ; check ; substantiation
additional proof that something that was believed (some fact or hypothesis or theory) is correct; "fossils provided further confirmation of the evolutionary theory"

conserve ; economize ; economise
use cautiously and frugally; "I try to economize my spare time"; "conserve your energy for the ascent to the summit"

consortium ; pool ; syndicate
an association of companies for some definite purpose

contribution ; donation
a voluntary gift (as of money or service or ideas) made to some worthwhile cause

country ; land
the territory occupied by a nation; "he returned to the land of his birth"; "he visited several European countries"

money available for a client to borrow

credit card
a card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered; "do you take plastic?"

a person to whom money is owed by a debtor; someone to whom an obligation exists

the metal or paper medium of exchange that is presently used

data ; information
a collection of facts from which conclusions may be drawn; "statistical data"

deathrate ; death rate ; mortality ; mortality rate
the ratio of deaths in an area to the population of that area; expressed per 1000 per year

money or goods or services owed by one person to another

a contraction of economic activity resulting in a decline of prices

the act of paying money

the ability and desire to purchase goods and services; "the automobile reduced the demand for buggywhips"; "the demand exceeded the supply"

an urgent or peremptory request; "his demands for attention were unceasing"

demand ; need
a condition requiring relief; "she satisfied his need for affection"; "God has no need of men to accomplish His work"; "there is a demand for jobs"

a payment given as a guarantee that an obligation will be met

deposit ; bank
put into a bank account; "She deposits her paycheck every month"

depression ; slump
a long-term economic state characterized by unemployment and low prices and low levels of trade and investment

descent ; pedigree ; ancestry ; origin ; parentage
the descendants of one individual; "his entire lineage has been warriors"

discount ; deduction
the act of reducing the selling price of merchandise

that part of the earnings of a corporation that is distributed to its shareholders; usually paid quarterly

division ; partition ; segmentation
the act of dividing or partitioning; separation by the creation of a boundary that divides or keeps apart

the basic monetary unit in many countries; equal to 100 cents

dollar ; buck
a piece of paper money worth one dollar

donor ; giver
person who makes a gift of property

doubt ; uncertainty ; incertitude ; dubiety ; doubtfulness ; dubiousness
the state of being unsure of something

down payment ; deposit
a partial payment made at the time of purchase; the balance to be paid later

duty ; tariff
a government tax on imports or exports; "they signed a treaty to lower duties on trade between their countries"

earn on some commercial or business transaction; earn as salary or wages; "How much do you make a month in your new job?"; "She earns a lot in her new job"; "this merger brought in lots of money"; "He clears $5,000 each month"

of or relating to the science of economics; "economic theory"

economic growth
steady growth in the productive capacity of the economy (and so a growth of national income)

the branch of social science that deals with the production and distribution and consumption of goods and services and their management

economist ; economic expert
an expert in the science of economics

the efficient use of resources; "economy of effort"

economy ; economic system
the system of production and distribution and consumption

economy ; saving
an act of economizing; reduction in cost; "it was a small economy to walk to work every day"; "there was a saving of 50 cents"

economy ; thriftiness
frugality in the expenditure of money or resources; "the Scots are famous for their economy"

skillfulness in avoiding wasted time and effort; "she did the work with great efficiency"

the difference between the market value of a property and the claims held against it

extensive landed property (especially in the country) retained by the owner for his own use; "the family owned a large estate on Long Island"

everything you own; all of your assets (whether real property or personal property) and liabilities

evade ; elude ; dodge
avoid or try to avoid fulfilling, answering, or performing (duties, questions, or issues); "He dodged the issue"; "she skirted the problem"; "They tend to evade their responsibilities"; "he evaded the questions skillfully"

excess ; surplus ; surplusage
a quantity much larger than is needed

exchange ; interchange
the act of changing one thing for another thing; "Adam was promised immortality in exchange for his disobedience"; "there was an interchange of prisoners"

money spent to perform work and usually reimbursed by an employer; "he kept a careful record of his expenses at the meeting"

amounts paid for goods and services that may be currently tax deductible (as opposed to capital expenditures)

extremum ; peak
the most extreme possible amount or value; "voltage peak"

factory ; mill
a plant consisting of one or more buildings with facilities for manufacturing

Federal Reserve System ; Federal Reserve ; Fed
the central bank of the United States; incorporates 12 Federal Reserve branch banks and all national banks and state-chartered commercial banks and some trust companies; "the Fed seeks to control the United States economy by raising and lowering short-term interest rates and the money supply"

financier ; moneyman
a person skilled in large scale financial transactions

Food and Drug Administration ; FDA
a federal agency in the Department of Health and Human Services established to regulate the release of new foods and health-related products

fourth ; quarter
one of four equal parts; "a quarter of a pound"

game theory ; theory of games
(economics) a theory of competition stated in terms of gains and losses among opposing players

General Agreement on Tariffs and Trade ; GATT
a United Nations agency created by a multinational treaty to promote trade by the reduction of tariffs and import quotas

generalization ; generalisation
the process of formulating general concepts by abstracting common properties of instances

globalization ; globalisation
growth to a global or worldwide scale; "the globalization of the communication industry"

good ; goodness
that which is pleasing or valuable or useful; "weigh the good against the bad"; "among the highest goods of all are happiness and self-realization"

government ; regime
the organization that is the governing authority of a political unit; "the government reduced taxes"; "the matter was referred to higher authorities"

any monetary aid

gross domestic product ; GDP
the measure of an economy adopted by the United States in 1991; the total market values of goods and services produced by workers and capital within a nation's borders during a given period (usually 1 year)

gross profit ; gross profit margin ; margin
(finance) the net sales minus the cost of goods and services sold

heterogeneous ; heterogenous
consisting of elements that are not of the same kind or nature; "the population of the United States is vast and heterogeneous"

holding company
a company with controlling shares in other companies

homogeneous ; homogenous
all of the same or similar kind or nature; "a close-knit homogeneous group"

a tentative insight into the natural world; a concept that is not yet verified but that if true would explain certain facts or phenomena; "a scientific hypothesis that survives experimental testing becomes a scientific theory"; "he proposed a fresh theory of alkalis that later was accepted in chemical practices"

immigration ; in-migration
migration into a place (especially migration to a country of which you are not a native in order to settle there)

bring in from abroad

import ; importation
commodities (goods or services) bought from a foreign country

incentive ; inducement ; motivator
a positive motivational influence

the financial gain (earned or unearned) accruing over a given period of time

income statement ; earnings report ; operating statement
a financial statement that gives operating results for a specific period

indigence ; need ; penury ; pauperism
a state of extreme poverty or destitution; "their indigence appalled him"; "a general state of need exists among the homeless"

a fixed charge for borrowing money; usually a percentage of the amount borrowed; "how much interest do you pay on your mortgage?"

International Monetary Fund ; IMF
a United Nations agency to promote trade by increasing the exchange stability of the major currencies

make an investment; "Put money into bonds"

investing ; investment
the act of investing; laying out money or capital in an enterprise with the expectation of profit

someone who commits capital in order to gain financial returns

invoice ; bill ; account
an itemized statement of money owed for goods shipped or services rendered; "he paid his bill and left"; "send me an account of what I owe"

the branch of philosophy concerned with the law and the principles that lead courts to make the decisions they do

Keynes ; John Maynard Keynes
English economist who advocated the use of government monetary and fiscal policy to maintain full employment without inflation (1883-1946)

the (technical) knowledge and skill required to do something

labor ; labour
productive work (especially physical work done for wages); "his labor did not require a great deal of skill"

lack ; deficiency ; want
the state of needing something that is absent or unavailable; "there is a serious lack of insight into the problem"; "water is the critical deficiency in desert regions"; "for want of a nail the shoe was lost"

the land on which real estate is located; "he built the house on land leased from the city"

legal document setting forth rules governing a particular kind of activity; "there is a law against kidnapping"

lender ; loaner
someone who lends money or gives credit in business matters

strategic advantage; power to act effectively; "relatively small groups can sometimes exert immense political leverage"

the temporary provision of money (usually at interest)

the act of losing someone or something; "everyone expected him to win so his loss was a shock"

the amount by which the cost of a business exceeds its revenue; "the company operated at a loss last year"; "the company operated in the red last year"

the branch of economics that studies the overall working of a national economy

those in charge of running a business

management ; direction
the act of managing something; "he was given overall management of the program"; "is the direction of the economy a function of government?"

the world of commercial activity where goods and services are bought and sold; "without competition there would be no market"; "they were driven from the marketplace"

marriage ; matrimony ; wedlock
the state of being a married couple voluntarily joined for life (or until divorce); "a long and happy marriage"; "God bless this union"

meaning ; significance ; import
the message that is intended or expressed or signified; "what is the meaning of this sentence"; "the significance of a red traffic light"; "the signification of Chinese characters"; "the import of his announcement was ambiguous"

measure ; evaluate ; valuate ; assess ; appraise ; value
evaluate or estimate the nature, quality, ability, extent, or significance of; "I will have the family jewels appraised by a professional"; "access all the factors when taking a risk"

the branch of economics that studies the economy of consumers or households or individual firms

monetary ; pecuniary
relating to or involving money; "monetary rewards"; "he received thanks but no pecuniary compensation for his services"

the most common medium of exchange; functions as legal tender; "we tried to collect the money he owed us"

(economics) a market in which goods or services are offered by several sellers but there is only one buyer

a conditional conveyance of property as security for the repayment of a loan

motivation ; motive
the psychological feature that arouses an organism to action toward a desired goal; the reason for the action; that which gives purpose and direction to behavior; "we did not understand his motivation"; "he acted with the best of motives"

Nash equilibrium
(game theory) a stable state of a system that involves several interacting participants in which no participant can gain by a change of strategy as long as all the other participants remain unchanged

the people who live in a nation or country; "a statement that sums up the nation's mood"; "the news was announced to the nation"; "the whole country worshipped him"

National Association of Securities Dealers Automated Quotations ; NASDAQ
a computerized data system to provide brokers with price quotations for securities traded over the counter

nationalization ; nationalisation
changing something from private to state ownership or control

natural resource ; natural resources
resources (actual and potential) supplied by nature

need ; necessitate ; ask ; postulate ; require ; involve ; call for ; demand
require as useful, just, or proper; "It takes nerve to do what she did"; "success usually requires hard work"; "This job asks a lot of patience and skill"; "This position demands a lot of personal sacrifice"; "This dinner calls for a spectacular dessert"; "This intervention does not postulate a patient's consent"

net ; nett
remaining after all deductions; "net profit"

relating to or constituting or bearing or giving a name; "the Russian system of nominal brevity"; "a nominal lists of priests"; "taxable males as revealed by the nominal rolls"

North American Free Trade Agreement ; NAFTA
an agreement for free trade between the United States and Canada and Mexico; became effective in 1994 for ten years

occupation ; job
the principal activity in your life that you do to earn money; "he's not in my line of business"

(economics) a market in which control over the supply of a commodity is in the hands of a small number of producers and each one can influence prices and affect competitors

opportunity cost
cost in terms of foregoing alternatives

the right to buy or sell property at an agreed price; the right is purchased and if it is not exercised by a stated date the money is forfeited

order ; purchase order
a commercial document used to request someone to supply something in return for payment and providing specifications and quantities; "IBM received an order for a hundred computers"

Organization of American States ; OAS
an association including most countries in the western hemisphere; created in 1948 to promote military and economic and social and cultural cooperation

Organization of Petroleum-Exporting Countries ; OPEC
an organization of countries formed in 1961 to agree on a common policy for the production and sale of petroleum

origin ; inception
an event that is a beginning; a first part or stage of subsequent events

output ; yield
production of a certain amount

overproduction ; overrun
too much production or more than expected

material used to make packages

patent ; patent of invention
a document granting an inventor sole rights to an invention

give money, usually in exchange for goods or services; "I paid four dollars for this sandwich"; "Pay the waitress, please"

a sum of money paid or a claim discharged

payroll ; paysheet
a list of employees and their salaries; "the company had a long payroll"

peak ; top ; summit
the top or extreme point of something (usually a mountain or hill); "the view from the peak was magnificent"; "they clambered to the tip of Monadnock"; "the region is a few molecules wide at the summit"

penny ; cent
a coin worth one-hundredth of the value of the basic unit

percent ; percentage
a proportion in relation to a whole (which is usually the amount per hundred)

percept ; perception
the representation of what is perceived; basic component in the formation of a concept

the process of perceiving

a series of steps to be carried out or goals to be accomplished; "they drew up a six-step plan"; "they discussed plans for a new bond issue"

a list of the financial assets held by an individual or a bank or other financial institution; "they were disappointed by the poor returns on their stock portfolio"

problem ; job
a state of difficulty that needs to be resolved; "she and her husband are having problems"; "it is always a job to contact him"; "urban problems such as traffic congestion and smog"

the excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses)

profit ; turn a profit
make a profit; gain money or materially; "The company has not profited from the merger"

the quality of affording gain or benefit or profit

prognosis ; forecast
a prediction about how something (as the weather) will develop

promotion ; publicity
a message issued in behalf of some product or cause or idea or person or institution; "the packaging of new ideas"

the policy of imposing duties or quotas on imports in order to protect home industries from overseas competition

an adequate or large amount; "he had a quantity of ammunition"

a prescribed number; "all the salesmen met their quota for the month"

rate ; charge per unit
amount of a charge or payment relative to some basis; "a 10-minute phone call at that rate would cost $5"

rate ; value
estimate the value of; "How would you rate his chances to become President?"; "Gold was rated highly among the Romans"

real ; existent
being or occurring in fact or actuality; having verified existence; not illusory; "real objects"; "real people; not ghosts"; "a film based on real life"; "a real illness"; "real humility"; "Life is real! Life is earnest!"- Longfellow

reappraisal ; revaluation ; reassessment
a new appraisal or evaluation

rebate ; discount
a refund of some fraction of the amount paid

an acknowledgment (usually tangible) that payment has been made

the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year

the act of processing used or abandoned materials for use in creating new products

redemption ; repurchase ; buyback
the act of purchasing back something previously sold

refund ; repay
pay back; "Please refund me my money"

regulation ; ordinance
an authoritative rule

a payment or series of payments made by the lessee to an owner for use of some property, facility, equipment, or service

reserve ; stockpile
something kept back or saved for future use or a special purpose

respect ; esteem
regard highly; think much of; "I respect his judgement"; "We prize his creativity"

return ; take ; proceeds ; yield ; payoff
the income or profit arising from such transactions as the sale of land or other property; "the average return was about 5%"

payment to the holder of a patent or copyright or resource for the right to use their property; "he received royalties on his book"

rule ; regulation
a principle or condition that customarily governs behavior; "it was his rule to take a walk before breakfast"; "short haircuts were the regulation"

the general activity of selling; "they tried to boost sales"; "laws limit the sale of handguns"

the contentment one feels when one has fulfilled a desire, need, or expectation; "the chef tasted the sauce with great satisfaction"

save ; preserve
to keep up and reserve for personal or special use; "She saved the old family photographs in a drawer"

savings ; nest egg
a fund of money put by as a reserve

scarcity ; scarceness
a small and inadequate amount

science ; scientific discipline
a particular branch of scientific knowledge; "the science of genetics"

section ; segment
one of several parts or pieces that fit with others to constitute a whole object; "a section of a fishing rod"; "metal sections were used below ground"; "finished the final segment of the road"

segment ; section
divide into segments; "segment an orange"; "segment a compound word"

exchange or deliver for money or its equivalent; "He sold his house in January"; "She sells her body to survive and support her drug habit"

skill ; science
ability to produce solutions in some problem domain; "the skill of a well-trained boxer"; "the sweet science of pugilism"

Smith ; Adam Smith
Scottish economist who advocated private enterprise and free trade (1723-1790)

spending ; expenditure ; outlay
money paid out; an amount spent

a period of slow economic growth and high unemployment (stagnation) while prices rise (inflation)

stagnation ; stagnancy ; doldrums
a state of inactivity (in business or art etc); "economic growth of less than 1% per year is considered to be economic stagnation"

stockholder ; shareholder
someone who holds shares of stock in a corporation

levy a tax on; "The State taxes alcohol heavily"; "Clothing is not taxed in our state"

tax ; taxation
charge against a citizen's person or property or activity for the support of government

taxman ; exciseman
someone who collects taxes for the government

someone who pays taxes

the discipline dealing with the art or science of applying scientific knowledge to practical problems; "he had trouble deciding which branch of engineering to study"

teller ; cashier
an employee of a bank who receives and pays out money

a well-substantiated explanation of some aspect of the natural world; an organized system of accepted knowledge that applies in a variety of circumstances to explain a specific set of phenomena; "theories can incorporate facts and laws and tested hypotheses"; "true in fact and theory"

top ; peak ; summit ; acme ; pinnacle
the highest level or degree attainable; the highest stage of development; "his landscapes were deemed the acme of beauty"; "the artist's gifts are at their acme"; "at the height of her career"; "the peak of perfection"; "summer was at its peak"; "...catapulted Einstein to the pinnacle of fame"; "the summit of his ambition"; "so many highest superlatives achieved by man"; "at the top of his profession"

the commercial exchange (buying and selling on domestic or international markets) of goods and services; "Venice was an important center of trade with the East"; "they are accused of conspiring to constrain trade"

trade ; merchandise
engage in the trade of; "he is merchandising telephone sets"

the government department responsible for collecting and managing and spending public revenues

treasury ; exchequer
the funds of a government or institution or individual

trust ; cartel
a consortium of independent organizations formed to limit competition by controlling the production and distribution of a product or service; "they set up the trust in the hope of gaining a monopoly"

not engaged in a gainful occupation; "unemployed workers marched on the capital"

the state of being unemployed or not having a job; "unemployment is a serious social evil"; "the rate of unemployment is an indicator of the health of an economy"

unilateral ; one-sided
involving only one part or side; "unilateral paralysis"; "a unilateral decision"

union ; unification
the act of making or becoming a single unit; "the union of opposing factions"; "he looked forward to the unification of his family for the holidays"

the quality (positive or negative) that renders something desirable or valuable; "the Shakespearean Shylock is of dubious value in the modern world"

a symbol (like x or y) that is used in mathematical or logical expressions to represent a variable quantity

liable to or capable of change; "rainfall in the tropics is notoriously variable"; "variable winds"; "variable expenses"

VAT ; value-added tax
a tax levied on the difference between a commodity's price before taxes and its cost of production

used as intensifiers; `real' is sometimes used informally for `really'; `rattling' is informal; "she was very gifted"; "he played very well"; "a really enjoyable evening"; "I'm real sorry about it"; "a rattling good yarn"

wage ; pay ; remuneration ; salary
something that remunerates; "wages were paid by check"; "he wasted his pay on drink"; "they saved a quarter of all their earnings"

wealth ; riches
an abundance of material possessions and resources

wealth ; wealthiness
the state of being rich and affluent; having a plentiful supply of material goods and money; "great wealth is not a sign of great intelligence"

the vertical force exerted by a mass as a result of gravity

a contented state of being happy and healthy and prosperous; "the town was finally on the upbeat after our recent troubles"

wish ; wishing
a specific feeling of desire; "he got his wish"; "he was above all wishing and desire"

World Trade Organization ; WTO
an international organization based in Geneva that monitors and enforces rules governing global trade

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