An item cannot have economic value unless it is scarce.

Top government officials such as the president, cabinet officials, and legislative leaders, unified by a common interest such as membership […]

Within a given territory, the only body that can dictate what people must do or not do, and can legitimately […]

A financial instrument issued by governments that promises to pay flows of money at specific intervals.

The difference between government tax revenue and government spending (including government purchases of goods and services, investment spending, and spending […]

When the government budget balance is negative. See also: government budget balance, government budget surplus.

When the government budget balance is positive. See also: government budget balance, government budget deficit.

The total amount of money owed by the government at a specific point in time.

A failure of political accountability. (This term is widely used in a variety of ways, none of them strictly analogous […]

Expend­iture by the government to purchase goods and services. When used as a component of aggregate demand, this does not […]