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  2. Economics terminology that differs from common usage

    en.wikipedia.org/wiki/Economics_terminology_that...

    The economics term cost, also known as economic cost or opportunity cost, refers to the potential gain that is lost by foregoing one opportunity in order to take advantage of another. The lost potential gain is the cost of the opportunity that is accepted. Sometimes this cost is explicit: for example, if a firm pays $100 for a machine, its cost ...

  3. Glossary of economics - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_economics

    An economic theory that defines wealth by the amount of precious metals owned. [56] business cycle. Also called the economic cycle or trade cycle. The downward and upward movement of gross domestic product (GDP) around its long-term growth trend. [57] The length of a business cycle is the period of time containing a single boom and contraction ...

  4. Economic rent - Wikipedia

    en.wikipedia.org/wiki/Economic_rent

    Economic rent is viewed as unearned revenue [2] while economic profit is a narrower term describing surplus income earned by choosing between risk-adjusted alternatives. Unlike economic profit, economic rent cannot be theoretically eliminated by competition because any actions the recipient of the income may take such as improving the object to ...

  5. Rent-seeking - Wikipedia

    en.wikipedia.org/wiki/Rent-seeking

    Rent-seeking is an attempt to obtain economic rent (i.e., the portion of income paid to a factor of production in excess of what is needed to keep it employed in its current use) by manipulating the social or political environment in which economic activities occur, rather than by creating new wealth.

  6. Rentier state - Wikipedia

    en.wikipedia.org/wiki/Rentier_state

    Rentier state. In current political-science and international-relations theory, a rentier state ( / ˈrɒntieɪ / RON-tee-ay or / rɒ̃ˈtjeɪ /) is a state which derives all or a substantial portion of its national revenues from the rent paid by foreign individuals, concerns or governments. [ 1]

  7. Affordable housing - Wikipedia

    en.wikipedia.org/wiki/Affordable_housing

    The definition of affordable housing may change depending on the country and context. For example, in Australia, the National Affordable Housing Summit Group developed their definition of affordable housing as housing that is "...reasonably adequate in standard and location for lower or middle income households and does not cost so much that a household is unlikely to be able to meet other ...

  8. Rentier capitalism - Wikipedia

    en.wikipedia.org/wiki/Rentier_capitalism

    Rentier capitalism is a concept in Marxist and heterodox economics to refer to rent-seeking and exploitation by companies in capitalist systems. [1] [2] [3] The term was developed by Austrian social-geograph Hans Bobek, [4] describing an economic system that was widespread in antiquity and still widespread in the middle east, where productive investments are largely lacking, the highest ...

  9. Implicit cost - Wikipedia

    en.wikipedia.org/wiki/Implicit_cost

    Implicit cost. In economics, an implicit cost, also called an imputed cost, implied cost, or notional cost, is the opportunity cost equal to what a firm must give up in order to use a factor of production for which it already owns and thus does not pay rent. It is the opposite of an explicit cost, which is borne directly. [1]