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In any technical subject, words commonly used in everyday life acquire very specific technical meanings, and confusion can arise when someone is uncertain of the intended meaning of a word. This article explains the differences in meaning between some technical terms used in economics and the corresponding terms in everyday usage.
This is a list of Latin words with derivatives in English language. Ancient orthography did not distinguish between i and j or between u and v. [1] Many modern works distinguish u from v but not i from j. In this article, both distinctions are shown as they are helpful when tracing the origin of English words. See also Latin phonology and ...
A 'countercyclical' fiscal policy takes the opposite approach: reducing spending and raising taxes during a boom period, and increasing spending and cutting taxes during a recession. [ 1 ] Business cycle theory
A budget surplus means the opposite: in total, the government has removed more money and bonds from private holdings via taxes than it has put back in via spending. Therefore, budget deficits, by definition, are equivalent to adding net financial assets to the private sector, whereas budget surpluses remove financial assets from the private sector.
Government deficit spending is a central point of controversy in economics, with prominent economists holding differing views. [3]The mainstream economics position is that deficit spending is desirable and necessary as part of countercyclical fiscal policy, but that there should not be a structural deficit (i.e., permanent deficit): The government should run deficits during recessions to ...
It is the opposite of an explicit cost, which is borne directly. [1] In other words, an implicit cost is any cost that results from using an asset instead of renting it out, selling it, or using it differently. The term also applies to foregone income from choosing not to work.
In other words, it is the total cost needed to bring a project to a commercially operable status. Whether a particular cost is capital or not depend on many factors such as accounting , tax laws , and materiality .
A big list will constantly show you what words you don't know and what you need to work on and is useful for testing yourself. Eventually these words will all be translated into big lists in many different languages and using the words in phrase contexts as a resource.