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Definitions (4108)
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economic cost
The monetary cost of an object or action, including reductions in wages, profits, and property values, but not including such nonmonetary costs as adverse consequences for health or safety, or negativ [..]
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economic crisis
Although there are many economic events that might be called crises, this term usually refers to a sudden drop in aggregate demand that, if prolonged, leads to recession.
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economic decision
A decision about an economic issue, most commonly about how to allocate resources among multiple purposes.
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economic development
Sustained increase in the economic standard of living of a country's population, normally accomplished by increasing its stocks of physical and human capital and improving technology.
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economic efficiency
The extent to which a given set of resources is being allocated across uses or activities in a manner that maximizes whatever value they are intended to produce, such as output, market value, or utili [..]
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promotion
The use of policy, especially a subsidy to encourage an activity, such as production in an industry. See export promotion.
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property rights
The legally defined and enforced rules of ownership, specifying who has the right to use and to sell anything, especially a piece of land and whatever may be situated on, above, and below it. Well est [..]
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property tax
A tax on owned land and housing.
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protection
1. Without any adjective, or as "import protection," this refers to restriction of imports by means of tariffs and/or NTBs, and thereby intended to insulate domestic producers from competiti [..]
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