What is Easy Money?
Refers to a general state of ease and cheapness of borrowing in the financial system. It may result from policy action to reduce interest rates, increase liquidity of the banking system, release any non-price restrictions on lending like credit ceilings and restrictive conditions on hire-purchase contracts.
What is Economic Growth?
The rate of expansion of the national income or total value of production of goods and services of a country.
What is Economies of Scale?
Refers to the reduction in the average cost of a product in the long run, resulting from an expanded level of output. They are also known as ?long run increasing returns?.
What is Elasticity?
The degree of responsiveness of demand or supply to a change of price. Elasticity may be defined as a measure of the percentage change in one variable in respect of a percentage change in another variable.
What is Elasticity of Demand?
Means the response of demand to a change in the price of commodity. If the price rises, the amount demanded normally decreases.
What is Elasticity of Supply?
Means the response of supply to a change in the price of commodity. If the price rises, the quantity demanded normally increases.
What is Entrepreneur?
The term used for the organizing factor in production. Entrepreneurs are responsible for such economic decisions as what to produce, how much to produce and what method of production to adopt.
What is Equity?
Another name for ownership; often used to describe a share in a company.
What is Exchange?
Exchange is the act of obtaining a desired product from someone by offering something in return.
What is Excise Duties?
Taxes on home produced goods to raise revenue, as distinct from customs duties which are taxes on imports not primarily imposed to raise revenue. Excise duties may be imposed either to raise revenue or to check the consumption of the commodities on which they are imposed.
What is Export?
The term used for a goods/service which is produced in one country and sold to a consumer in another.
What is Easy Money?
Refers to a general state of ease and cheapness of borrowing in the financial system. It may result from policy action to reduce interest rates, increase liquidity of the banking system, release any non-price restrictions on lending like credit ceilings and restrictive conditions on hire-purchase contracts.
What is Economic Growth?
The rate of expansion of the national income or total value of production of goods and services of a country.
What is Economies of Scale?
Refers to the reduction in the average cost of a product in the long run, resulting from an expanded level of output. They are also known as ?long run increasing returns?.
What is Elasticity?
The degree of responsiveness of demand or supply to a change of price. Elasticity may be defined as a measure of the percentage change in one variable in respect of a percentage change in another variable.
What is Elasticity of Demand?
Means the response of demand to a change in the price of commodity. If the price rises, the amount demanded normally decreases.
What is Elasticity of Supply?
Means the response of supply to a change in the price of commodity. If the price rises, the quantity demanded normally increases.
What is Entrepreneur?
The term used for the organizing factor in production. Entrepreneurs are responsible for such economic decisions as what to produce, how much to produce and what method of production to adopt.
What is Equity?
Another name for ownership; often used to describe a share in a company.
What is Exchange?
Exchange is the act of obtaining a desired product from someone by offering something in return.
What is Excise Duties?
Taxes on home produced goods to raise revenue, as distinct from customs duties which are taxes on imports not primarily imposed to raise revenue. Excise duties may be imposed either to raise revenue or to check the consumption of the commodities on which they are imposed.
What is Export?
The term used for a goods/service which is produced in one country and sold to a consumer in another.
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