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This is the simplest yardstick of economic performance. If one person, firm or country can produce more of something with the same amount of effort and resources, they have an absolute advantage over other producers. Being the best at something does not mean that doing that thing is the best way to use your scarce
Glossary of economic terms. Administrative regulations: regulations imposed by the government of a country to regulate trade, usually applied to imports, e.g. insisting upon imports meeting minimum standards. Age distribution: the number of people in each age group of the population. This can be shown on a population
terms of numerical data. However, useful empirical investigation of a specific item of interest may also be represented in words or images. empirical investigation: observation and recording of the specific phenomena of concern. When the observations take the form of showing how a numerical economic variable changes
Marginal Analysis. In economics the term marginal = additional. “Thinking on the margin", or MARGINAL ANALYSIS involves making decisions based on the additional benefit vs. the additional cost. For Example: You have been shopping at the mall for a half hour, the additional benefit of shopping for an additional half-hour.
17 Jul 1998 Terminology. A glossary of technical terms on the economics and finance of health services by. J. L. Roberts. Consultant for Health Economics. WHO Regional Office for Europe. World Health Organization. Regional Office for Europe. Copenhagen. 1998
This glossary contains non-technical descriptions of all the terms in Economics for Everyone highlighted in SMALL CAPITALS. Italicized terms within the definitions are themselves defined elsewhere in the glossary, for cross-reference. Absolute Poverty: Poverty defined with respect to an absolute material standard of living.
23 Jul 2017 Basic economic terms, definitions, free download, pdf. Download PDF. Dear Aspirants,. As you must be aware, Economy and Important & Fundamental Economic concepts (micro and macro) are part of the syllabus of some of the major recruitment exams such as NABARD and RBI Grade B. While majority
ECONOMIC TERMS GLOSSARY •. •. •. Absolute Poverty: Poverty defined with respect to an absolute material standard of living. Someone is absolutely poor if their income does not allow them to consume enough to purchase a minimum bundle of consumer goods and services (including shelter, food, and clothing).
Terms defined are in bold and cross-references to definitions elsewhere in the glossary are in italics. A. Additionality The proportion of the impact or change associated with policy or programme which would not have happened without the intervention. For example, if 100,000 visitors to a promotional website booked a
The book will also be useful for the general reader who comes across these terms in the financial pages of newspapers as well as in specialist magazines. The dictionary gives succinct explanations of the 3,000 most frequently found terms. It also covers the many abbreviations which are often used in writing on economic.

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February 2018