A set of strategies, one for each player in the game, such that each player’s strategy is a best response […]

The system used for measuring overall output and expenditure in a country.

National insurance is a form of tax which everyone currently employed must pay in order to qualify for benefits, including […]

An empirical study exploiting naturally occurring statistical controls in which researchers do not have the ability to assign participants to […]

See also: logarithmic scale.

A production process in which the long-run average cost curve is sufficiently downward-sloping to make it impossible to sustain competition […]

National Change of Address, a US Postal Service system under which about twenty service bureaus nationwide have exclusive use of […]

When the value of an asset you have already bought becomes worth less than what you initially paid.

A process whereby some initial change sets in motion a process that dampens the initial change. See also: positive feedback […]

A descriptive term for an income producing investment that generates insufficient wealth to pay for the cost of the money […]