A product that will see decreased demand as income levels rise. Note that this does not necessarily imply that the […]

An increase in the general price level in the economy. Usually measured over a year. See also: deflation, disinflation.

Monetary policy regime where the central bank changes interest rates to influence aggregate demand in order to keep the economy […]

Price that takes into account the change in the overall price level.

The unemployment rate (at labour market equilibrium) at which inflation is constant. Originally known as the ‘natural rate’ of unemployment. […]

In business-to-business, executives who have the authority to make or influence a purchase.

A situation in which parties to a transaction do not share equivalent information.

The process of maintaining a database: nightly backup, cleaning, merge/purge, deduplication, update, etc.

Taking initiative means thinking proactively about tasks— not just to check them off a list, but to get them done […]

The process of invention and diffusion considered as a whole.