A measure of how we currently value the costs and benefits experienced by people who will live in the future. […]

Income minus taxes and existing obligations.

These occur when doubling all of the inputs to a production process less than doubles the output. Also known as: […]

An increasing marginal cost of production.

An economic variable may change either because the things that determine the equilibrium value of that variable have changed (an […]

The economic rent that arises when a market is not in equilibrium, for example when there is excess demand or […]

A decrease in the rate of inflation. See also: inflation, deflation.

Magnetic disks are attached to computers. They hold information (records) which can be retrieved very rapidly if the computer knows […]

Another name for economics

Income available after paying taxes and receiving transfers from the government.