2020-11-22T23:25:03+03:00[Europe/Moscow] en true ethology, Homo Economicus, political economy, effective demand, Business cycle, dialectics logic, formal logic, contractionary monetary policy, opportunity cost, adaptive expectations, esoteric knowledge, acquiesce, rhetoric, demarcation theory, homogeneous, invisible hand, MMT, monetary theory, ceteris paribus , monetary policy, vulgar libertarianism, inflation, polarizing , dynamism, comparative advantage, law of demand, absolute advantage, aggregate demand , Attenuated, Et al., ibid, etc . , i.e. (id est), e.g. Latin (exempli gratia), Affect, Effect, Passive Consumption Behavior, Iterative, Acquiescing, Prodigious, Discount Window, aggregate data analysis, Exogenous flashcards

Economics

economic terms and definitions

Customize
collection saved
Share
Long Term Learning Spaced Repetition
Add to Long Term Learning Desk
Fast learning Repeat this set of flashcards
Preview Test Spell
Play
Match
Review
  • ethology
    the study of human behavior and social organization from a biological perspective
  • Homo Economicus
    is the portrayal of humans as agents who are consistently rational, narrowly self-interested, and who pursue their subjectivity defined ends optimally.
  • political economy
    is the study of production and trade and their relations with law, custom, and government and with the distribution of national income and wealth.
  • effective demand
    refers to the willingness and ability of consumers to purchase goods at different prices.
  • Business cycle
    fluctuations in economic activity, such as employment and production
  • dialectics logic
    is the system of laws of thoughts, developed within the Hegelian and Marxist traditions, which seeks to supplement or replace the laws of formal logic
  • formal logic
    is used for inferring theorems from axioms according to a set of rules.
  • contractionary monetary policy
    Is driven by increases in the various base interest rates controlled by modern central banks or other means, producing growth in the money supply. The goal is to reduce inflation by limiting the amount of the active money in the money supply circulating in the economy.
  • opportunity cost
    whatever must be given up to obtain some item.
  • adaptive expectations
    is a hypothesized process by which people form their expectations about what will happen in the future based on what has happened in the past. (Milton Friedman)
  • esoteric knowledge
    intended for or likely to be understood by only a small number of people with specialized knowledge or interests.
  • acquiesce
    accept something reluctantly but without protest.
  • rhetoric
    the art of speaking or writing effectively, the study of principles and rules of composition formulated by critics of ancient times. B: the study of writing or speaking as a means of communication or persuasion.
  • demarcation theory
    in philosophy of science and epistemology, is how to distinguish between science and non-science, pseudoscience, and other products of human activity, like art and literature, and beliefs.
  • homogeneous
    consisting of parts or people that are similar to each other or are of the same type. ex: a homogeneous group or society.
  • invisible hand
    describes the unintended social benefits of an individuals self-interested actions. Adam Smith Wealth of Nations 1787.
  • MMT
    Government spending comes from nowhere.
  • monetary theory
    it provides the framework for analyzing money, for example fiat currency can gain acceptance because of its acceptance.
  • ceteris paribus
    all other things remain equal.
  • monetary policy
    consists of the management of the money supply and interest rates, aimed at achieving macroeconomic objectives such as controlling inflation, consumption, growth and liquidity.
  • vulgar libertarianism
    A phrase that describes the use of free market rhetoric in defense of corporate capitalism and economic inequality
  • inflation
    an increase in the overall level of prices the in the economy.
  • polarizing
    in politics polarization can refer to the divergence of political attitudes to ideological extremes
  • dynamism
    the quality of being characterized by vigorous activity and progress. Historical philosophy
  • comparative advantage
    the comparison among producers of a good or service according to their opportunity cost.
  • law of demand
    the claim that Ceteris Paribus, the quantity demanded of a good falls when the price of a good rises.
  • absolute advantage
    the comparison among producers of a good according to their productivity.
  • aggregate demand
    represents the total quantity of all good and services demanded by the economy at different price levels
  • Attenuated
    Lesson or weakened (as in amount of force or magnitude
  • Et al.
    Comes from Latin in meaning "and others"
  • ibid
    Ibidem- "in the same place"- used to indicate that a reference is from the same source as a previous reference.
  • etc .
    et cetera (plural) unspecified additional items
  • i.e. (id est)
    which means "that is". Introduces a rewording or a clarification. 'the cough may last for a short time period(i.e., three to five days).
  • e.g. Latin (exempli gratia)
    which means 'for example'. "Submit an sample of academic writing(e.g., a dissertation chapter).
  • Affect
    to produce an effect on someone or something.
  • Effect
    a distinction impression
  • Passive Consumption Behavior
    Active behavioral responses imply that CONSUMERS act upon on-line ads and make efforts to approach or avoid them.
  • Iterative
    relating to or involving iteration, especially of a mathematical or computational process
  • Acquiescing
    accept something reluctantly but without protest. permit, allow, agree to
  • Prodigious
    Remarkably or impressively great
  • Discount Window
    is a monetary policy (usually controlled by the central bank)that allows eligible institutions to borrow money from the central bank usually on a short term basis, to meet temporary shortages of liquidity caused by internal or external disruptions
  • aggregate data analysis
    is high-level data which which is aquired by combining individual level data. For instance, the input of an industry is an aggregate of the firms individual outputs within that industry.
  • Exogenous
    relating to or developing from external factors