Flashcards: Economic indicators

In business, the difference between the sale price and the production cost of a product is the unit profit.

This is a list of countries by public debt to GDP ratio as listed by Eurostat for the EU and by CIA's World Factbook 2012 for the rest of the world.

Standard of living refers to the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class in a certain geographic area.

Foreign-exchange reserves (also called forex reserves or FX reserves) is money or other assets held by a central bank or other monetary authority so that it can pay if need be its liabilities, such as the currency issued by the central bank, as well as the various bank reserves deposited with the central bank by the government and other financial institutions.

The Gini coefficient (sometimes expressed as a Gini ratio or a normalized Gini index) (/dʒini/ jee-nee) is a measure of statistical dispersion intended to represent the income distribution of a nation's residents, and is the most commonly used measure of inequality.

The gross national income (GNI) is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP) plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents (Todaro & Smith, 2011: 44).

Gross national product (GNP) was the market value of all the products and services produced in one year by labour and property supplied by the citizens of a country.

In ordinary usage, price is the quantity of payment or compensation given by one party to another in return for goods or services.

Profit or normal profit is a component of (implicit) costs and not a component of business profit at all.

The commercial balance or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain period.

A consumer price index (CPI) measures changes in the price level of a market basket of consumer goods and services purchased by households.

In macroeconomics, a multiplier is a factor of proportionality that measures how much an endogenous variable changes in response to a change in some exogenous variable.

In finance, a spot contract, spot transaction, or simply spot, is a contract of buying or selling a commodity, security or currency for settlement (payment and delivery) on the spot date, which is normally two business days after the trade date.

Gender inequality refers to unequal treatment or perceptions of individuals based on their gender.

The break-even point (BEP) in economics, business, and specifically cost accounting, is the point at which total cost and total revenue are equal: there is no net loss or gain, and one has "broken even.

National (net) wealth, also net wealth (in Singapore), national net worth, gross national wealth (GNW), and total national wealth, is the total sum value of monetary assets minus liabilities of a given nation.

The law of one price (LoP) is an economic concept which posits that "a good must sell for the same price in all locations".