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A market structure in which there are many sellers each producing a differentiated product. Each can set its own price and quantity, but is too small for that to matter for prices and quantities of other producers in the industry.
Industry:Economy
A market structure in which there is a single buyer. Term introduced in Robinson (1932).
Industry:Economy
A loan the collateral for which is a house or other real estate. I would not have thought this term needed to appear in a glossary of international economics, until 2008 when we learned that mortgage-backed securities had been traded internationally and were contributing to the global financial crisis when borrowers defaulted.
Industry:Economy
1. Of, relating to, or belonging to a nation. 2. A person who is a citizen or long-term resident of a nation.
Industry:Economy
Although this term looks like it should mean the amount that a country owes to foreigners, in practice it is used instead to refer to the amount that a nation's government owes to anybody, including its own citizens. Thus it is the total of a national government's outstanding government bonds.
Industry:Economy
A decline in size over time, said of an economy's GDP in recession or of the size of a declining firm or industry. Seems like a euphemism, except that no obvious alternative term suggests itself. Shrinkage?
Industry:Economy
A collection of assumptions customarily made by mainstream economists starting in the late 19th century, including profit maximization by firms, utility maximization by consumers, and market equilibrium, with corresponding implications for determination of factor prices and the distribution of income. Contrasts with classical, Keynesian, and Marxist.
Industry:Economy
A model of economic growth in which income arises from neoclassical production functions in one or more sectors, displaying diminishing returns to saving and capital accumulation. Due to Solow (1956) and Swan (1956).
Industry:Economy
A view of the world that favors social justice while also emphasizing economic growth, efficiency, and the benefits of free markets.
Industry:Economy
