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commodity

Summarize with ChatGPTCambridge Definition a substance or a product that can be traded in large quantities, such as oil, metals, grain, coffee, etc. Cambridge Link

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Cobb-Douglas Production Function

Summarize with ChatGPTWikipedia Definition In economics and econometrics, the Cobb–Douglas production function is a particular functional form of the production function, widely used to represent

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Classical Economics

Summarize with ChatGPTCambridge Definition a theory about economics, developed in Britain in the 18th and 19th centuries, which states that the economy will be most

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central bank

Summarize with ChatGPTCambridge Definition the official bank of a country, whose responsibilities typically include making moneyavailable and controlling interest rates Cambridge Link CENTRAL BANK –

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capitalism

Summarize with ChatGPTCambridge Definition the economic, political, and social system that is based on property, business, and industry being privately owned, and is directed towards

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broad money

Summarize with ChatGPTCambridge Definition the amount of money in a country's economy, measured by counting money kept by banks and people Cambridge Link BROAD MONEY

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aggregate income

Summarize with ChatGPTWikipedia Definition the total of all incomes in an economy without adjustments for inflation, taxation, or types of double counting Wikipedia Link Aggregate

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aggregate demand

Summarize with ChatGPTCambridge Definition the total demand for goods and services within an economy Cambridge Link AGGREGATE DEMAND – Cambridge English Dictionary Wikipedia Definition the

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Accounting identity

Summarize with ChatGPTWikipedia Definition In accounting, finance and economics, an accounting identity is an equality that must be true regardless of the value of its

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demand

Summarize with ChatGPTCambridge Definition a need for goods or services that customers want to buy or use Cambridge Link DEMAND – Cambridge English Dictionary Wikipedia

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Deleverage

Summarize with ChatGPTCambridge Definition to reduce a company's borrowing in relation to its share capital Wikipedia Definition At the macro-economic level, deleveraging of an economy

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deflation

Summarize with ChatGPTCambridge Definition an economic situation in which prices fall and there is a reduction in wages and government spending, and low levels of

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deficit

Summarize with ChatGPTCambridge Definition the total amount by which money spent by a business or government is more than the money it receives Cambridge Link

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bond

Summarize with ChatGPTCambridge Definition an official paper given by the government or a company to show that you have lent them money that they will

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bitcoin

Summarize with ChatGPTCambridge Definition a brand name for a type of cryptocurrency (= a digital currency that is produced by a public network rather than

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Biophysical Economics

Summarize with ChatGPTWikipedia Definition Thermoeconomics, also referred to as biophysical economics, is a school of heterodox economics that applies the laws of statistical mechanics to

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barter

Summarize with ChatGPTCambridge Definition to exchange goods or services for other things rather than for money Cambridge Link BARTER – Cambridge English Dictionary Wikipedia Definition

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bank

Summarize with ChatGPTCambridge Definition an organization where people and businesses can invest or borrow money, change it to foreign money, etc., or a buildingwhere these

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Balanced budget

Summarize with ChatGPTCambridge Definition a budget in which the amount of money that is planned to be spent is no greaterthan the income to be

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balance of payments

Summarize with ChatGPTCambridge Definition the difference between the money that a country receivesfrom exports and the money that it spends on imports Cambridge Link BALANCE

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asset

Summarize with ChatGPTCambridge Definition something valuable belonging to a person or organizationthat can be used for the payment of debts Cambridge Link ASSET – Cambridge

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aggregate supply

Summarize with ChatGPTWikipedia Definition the total supply of goods and services produced during a specific time period in an economy Wikipedia Link Aggregate supply –

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aggregate spend

Summarize with ChatGPTWikipedia Definition a process to monitor the total amount spent by healthcare manufacturers on individual healthcare professionals and organizations through payments and gifts

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Debt-deflation

Summarize with ChatGPTCambridge Definition the situation in which collateral (= property that will be sold or collected to make certain a debt is paid) becomes

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Debt-to-GDP ratio

Summarize with ChatGPTCambridge Definition the value of the goods and services that a country produces, compared with the amount of debt it has, used as

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Crowding out (mainstream idea)

Summarize with ChatGPTWikipedia Definition In economics, crowding out is a phenomenon that occurs when increased government involvement in a sector of the market economy substantially

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Credit theory of money

Summarize with ChatGPTWikipedia Definition Credit theories of money, also called debt theories of money, are monetary economictheories concerning the relationship between credit and money. Wikipedia

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Credit money

Summarize with ChatGPTWikipedia Definition (Redirected from Credit money) Credit theories of money, also called debt theories of money, are monetary economic theories concerning the relationship

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Credit crunch

Summarize with ChatGPTCambridge Definition economic conditions that make financial organizations less willing to lend money, often causing serious economic problems Cambridge Link CREDIT CRUNCH –

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Credit creation

Summarize with ChatGPTCambridge Definition a situation in which banks make more loans to consumers and businesses, with the result that the amount of money in

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credit

Summarize with ChatGPTCambridge Definition a method of paying for goods or services at a later time, usually paying interest as well as the original amount;

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consumption

Summarize with ChatGPTCambridge Definition the process of buying and using goods, or the amount that is bought and used Cambridge Link CONSUMPTION – Cambridge English

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consumer debt (private debt)

Summarize with ChatGPTWikipedia Definition In economics, consumer debt is the amount owed by consumers (as opposed to amounts owed by businesses or governments). It includes

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constant

Summarize with ChatGPTCambridge Definition a number or value that does not change Cambridge Link CONSTANT – Cambridge English Dictionary Wikipedia Definition In mathematics, the word

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money supply

Summarize with ChatGPTCambridge Definition the total amount of money in a particular economy at a particular time Cambridge Link MONEY SUPPLY – Cambridge English Dictionary

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microeconomics

Summarize with ChatGPTCambridge Definition the part of economics that studies individual markets and businesses, or how individual people spend or earn money Cambridge Link MICROECONOMICS

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market

Summarize with ChatGPTCambridge Definition the business or activity of buying and selling a particular product or service Cambridge Link MARKET – Cambridge English Dictionary Wikipedia

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ledger

Summarize with ChatGPTCambridge Definition a book or a computer document in which a company's accounts are recorded, especially the money it has spent and received

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Heterodox Economics

Summarize with ChatGPTWikipedia Definition Heterodox economics is a broad, relative term referring to schools of economic thought which are not commonly perceived as belonging to

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Great Depression

Summarize with ChatGPTWikipedia Definition a severe global economic downturn from 1929 to 1939 Wikipedia Link Great Depression – Wikipedia Summarize with ChatGPT

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government spending

Summarize with ChatGPTCambridge Definition the total amount of money that the government spends in a particular period Cambridge Link GOVERNMENT SPENDING – Cambridge English Dictionary

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finance

Summarize with ChatGPTCambridge Definition the activity or business of managing money, especially for a company or government Cambridge Link FINANCE – Cambridge English Dictionary Wikipedia

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Energy Economics

Summarize with ChatGPTWikipedia Definition Energy economics is a broad scientific subject area which includes topics related to supply and use of energy in societies.[1] Wikipedia

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Employment rate

Summarize with ChatGPTWikipedia Definition (Redirected from Employment rate) Employment-to-population ratio, also called the employmentrate,[1] is a statistical ratio that measures the proportion of a country's

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empirical evidence

Summarize with ChatGPTCambridge Definition based on what is experienced or seen rather than on theory Cambridge Link EMPIRICAL – Cambridge English Dictionary Wikipedia Definition evidence

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economics

Summarize with ChatGPTCambridge Definition the study of the way in which economies work, for example, the way in which they make money and produce and

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economic surplus

Summarize with ChatGPTCambridge Definition the amount of money that you have left when you sell more than you buy, or spendless than you receive Cambridge

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competition

Summarize with ChatGPTCambridge Definition the situation in which people or businesses are trying to be more successful than each other, for example by making more

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households

Summarize with ChatGPTWikipedia Definition A household consists of one or more persons who live in the same dwelling. It may be of a single family

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Government deficit

Summarize with ChatGPTCambridge Definition he amount by which a government's spending is more than the money it receives Cambridge Link GOVERNMENT DEFICIT – Cambridge English

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government debt

Summarize with ChatGPTCambridge Definition the amount of money owed by a government to lenders at a particular time Cambridge Link GOVERNMENT DEBT – Cambridge English

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Godley Table

Summarize with ChatGPTSchool of Thought Godley tables are a unique feature of Minsky. They are based on what could be called the world's first GUI

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Global Financial Crisis

Summarize with ChatGPTWikipedia Definition The 2008 financial crisis, also known as the global financial crisis(GFC), was a major worldwide financial crisis centered in the United

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GDP

Summarize with ChatGPTCambridge Definition abbreviation for Gross Domestic Product: the total value of goodsand services produced by a country in a year Cambridge Link GDP

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foreign debt

Summarize with ChatGPTCambridge Definition money that the government and organizations in one countryhave borrowed from organizations and governments in other countries Cambridge Link FOREIGN DEBT

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First Principles reasoning

Summarize with ChatGPTCambridge Definition the basic and most important reasons for doing or believing something Cambridge Link FIRST PRINCIPLES – Cambridge English Dictionary Wikipedia Definition

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Fiat money

Summarize with ChatGPTWikipedia Definition Fiat money is a type of government-issued currency, authorized by government regulation to be legal tender. Typically, fiat currency is not

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dynamics

Summarize with ChatGPTCambridge Definition the scientific study of the forces that produce movement Cambridge Link DYNAMIC – Cambridge English Dictionary Wikipedia Definition In physics, dynamics

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double-entry bookkeeping

Summarize with ChatGPTCambridge Definition the most commonly used system of recording financial information, in which each amount spent or received is recorded twice. For example,

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Deposit accounts

Summarize with ChatGPTCambridge Definition a bank account that pays interest, used especially by people who want to savemoney Cambridge Link DEPOSIT ACCOUNT – Cambridge English

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private credit

Summarize with ChatGPTWikipedia Definition Private credit is an asset defined by non-bank lending where the debt is not issued or traded on the public markets.

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Federal Reserve

Summarize with ChatGPTCambridge Definition the central bank of the US Cambridge Link FEDERAL RESERVE – Cambridge English Dictionary Wikipedia Definition The Federal Reserve System (often

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export

Summarize with ChatGPTCambridge Definition the business of sending goods to another country in order to sell them there Cambridge Link EXPORT – Cambridge English Dictionary

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Ergodicity

Summarize with ChatGPTCambridge Definition the state of a system or process that is ergodic (= likely to happen again) Cambridge Link ERGODICITY – Cambridge English

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equity

Summarize with ChatGPTCambridge Definition the money value of a property or business after debtshave been subtracted Cambridge Link EQUITY – Cambridge English Dictionary Wikipedia Definition

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Equillibrium

Summarize with ChatGPTCambridge Definition a situation in which an economy is balanced and not experiencing large changes, for example when the number of goods that

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entropy

Summarize with ChatGPTCambridge Definition a measurement of the energy in a system or process that is not available to do work Cambridge Link ENTROPY –

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Endogenous Money

Summarize with ChatGPTWikipedia Definition Endogenous money is an economy’s supply of money that is determined endogenously—that is, as a result of the interactions of other

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deposit account

Summarize with ChatGPTCambridge Definition a bank account that pays interest, used especially by people who want to savemoney Cambridge Link DEPOSIT ACCOUNT – Cambridge English

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debt

Summarize with ChatGPTCambridge Definition the amount of money that is owed by a person, company, country, etc. and that they usually have to pay interest

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Automatic stabilizers

Summarize with ChatGPTWikipedia Definition In macroeconomics, automatic stabilizers are features of the structure of modern government budgets, particularly income taxes and welfare spending, that act

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agent

Summarize with ChatGPTCambridge Definition An agent is also a chemical substance, organism, or natural force that produces a particular effect by its action. Wikipedia Definition

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utiliity maximization

Summarize with ChatGPTWikipedia Definition Utility maximization was first developed by utilitarian philosophers Jeremy Bentham and John Stuart Mill. In microeconomics, the utility maximization problem is

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profit maximization

Summarize with ChatGPTWikipedia Definition In economics, profit maximization is the short run or long run process by which a firm may determine the price, input

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Price level

Summarize with ChatGPTCambridge Definition the average price of all the goods and services in a country or area over a particularperiod of time Cambridge Link

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Post-Keynesian

Summarize with ChatGPTWikipedia Definition Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent

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Physiocrats

Summarize with ChatGPTWikipedia Definition Physiocracy (French: physiocratie; from the Greek for "government of nature") is an economic theory developed by a group of 18th-century Age

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parameter

Summarize with ChatGPTCambridge Definition a set of facts which describes and puts limits on how something should happen or be done Cambridge Link PARAMETER –

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opportunity cost

Summarize with ChatGPTCambridge Definition the value of the action that you do not choose, when choosing between two possible options Cambridge Link OPPORTUNITY COST –

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OECD

Summarize with ChatGPTCambridge Definition abbreviation for Organization for Economic Co-operation and Development: an international organization whose members are countries with advanced economiesand whose aim is

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normal distribution

Summarize with ChatGPTCambridge Definition an arrangement of data in which most values are near the centre of the range and gradually become fewer towards each

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neoclassical theory

Summarize with ChatGPTCambridge Definition a set of economic ideas developed in the late 19th and early 20th centuries, that examines the behaviour of people and

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multiplier effect

Summarize with ChatGPTWikipedia Definition In macroeconomics, a multiplier is a factor of proportionality that measures how much an endogenous variable changes in response to a

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monetarism

Summarize with ChatGPTCambridge Definition the idea that a country’s economy is influenced to a large degree by the moneysupply Cambridge Link MONETARISM – Cambridge English

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Modern Monetary Theory (MMT)

Summarize with ChatGPTWikipedia Definition Modern monetary theory or modern money theory (MMT) is a heterodox[1]macroeconomic theory that describes currency as a public monopoly and unemployment

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marginal revenue

Summarize with ChatGPTCambridge Definition the amount of money a company can make by selling one more unit of something Cambridge Link MARGINAL REVENUE – Cambridge

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marginal productivity

Summarize with ChatGPTCambridge Definition the amount that can be produced by adding one unit of something, such as labour, to the production process, or the

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