03/26/2017

অর্থনীতির পরিভাষা

অর্থনীতির পরিভাষা

Normative statements

Positive economics is objective and fact based, while normative economics is subjective and value based. Positive economic statements do not have to be correct,

Absolute advantage

the ability of an individual or group to carry out a particular economic activity more efficiently than another individual or group

Positive statements

Positive economics is objective and fact based, while normative economics is subjective and value based. Positive economic statements do not have to be correct, but they must be able to be tested and proved or disproved.

Macroeconomics

the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.

Scarcity

the limited nature of society\\\\

Economics

the study of how society manages its scarce resources

Equity

the property of distributing economic prosperity fairly among the members of society

Inflation

A general increase in prices and fall in the purchasing value of money.

Market economy

an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services

Circular flow diagram

a visual model of the economy that shows how dollars flow through markets and firms

Microeconomics

the part of economics concerned with single factors and the effects of individual decisions.

Phillips curve

a curve that shows the short run tradeoff between inflation and unemployment

Comparative advantage

the ability of an individual or group to carry out a particular economic activity (such as making a specific product) more efficiently than another activity.

Imports

bring (goods or services) into a country from abroad for sale.

Exports

send (goods or services) to another country for sale.

Law of demand

the claim that, other things equal, the quantity demanded of a good falls when the price of the good rises

Law of supply

a fundamental principle of economic theory which states that, all else equal, an increase in price results in an increase in quantity supplied.

Equilibrium

a state of rest or balance due to the equal action of opposing forces. ... equal balance between any powers, influences,

Adam Smith

Scottish political economist and moral philosopher. His inquiry into the Nature and Causes of the Wealth of Nations

John Maynard Keynes

an English economist, whose radical ideas had a major impact on modern economic and political theory as well as Franklin D. Roosevelt\'s New Deal

Elasticity

the degree to which a demand or supply is sensitive to changes in price or income.

Price elasticity of supply

a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price.

Tax incidence

the manner in which the burden of a tax is shared among participants in a market

Welfare economics

a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level.

Laffer Curve

a curved graph that illustrates the theory that, if tax rates rise beyond a certain level, they discourage economic growth, thereby reducing government revenues

Import quota

An import quota is a type of trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time.

Pigovian tax

a tax enacted to correct the effects of a negative externality

Budget deficit

a shortfall of tax revenue from government spending

Regressive tax

A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases.

Economic profit

total revenue minus total cost including explicit and implicit costs

Accounting profit

total revenue minus explicit cost

Economies of scale

a proportionate saving in costs gained by an increased level of production.

Sunk cost

a cost that has already been committed and cannot be recovered

Natural Monopoly

A natural monopoly is a type of monopoly that exists as a result of the high fixed costs or startup costs of operating a business in a specific industry

Oligopoly

a state of limited competition, in which a market is shared by a small number of producers or sellers.