Economic Concepts & Models 1-24
24 entries in the Economic Concepts & Models compendium.
CommodityAn economic good with substantial fungibility traded in global markets.Commodity marketMarkets trading primary-sector goods and their derivatives.Comparative advantageComparative advantage explains trade gains from differing opportunity costs.Competition (economics)Rivalry among firms to obtain limited goods by varying market elements.Compound interestInterest on interest, known since ancient times.ConsumerConsumers purchase goods and services for personal use.Consumer behaviourInterdisciplinary study of purchase, use, and disposal of goods.Consumer price indexA statistical estimate of consumer price levels over time.Consumption (economics)Use of resources to fulfill present needs and desires.CostCost is the metric of resources expended in production or decision-making.Cost curveGraph of production costs as a function of total quantity produced.Cost of livingCost of living measures the expense of a given standard of living.Cost–benefit analysisSystematic approach to estimating strengths and weaknesses of alternatives.Deadweight lossDeadweight loss is the net benefit missed by society.DepreciationAccounting method for allocating asset cost over useful life.Distribution (economics)Distribution studies how output and income are allocated in an economy.DividendDistribution of corporate profits to shareholders, often as cash.Division of labourSeparation of tasks enabling specialisation and economic interdependence.Economic bubblePeriod when asset prices far exceed intrinsic value, often ending in crash.Economic equilibriumA balanced state where supply and demand forces stabilize.Economic modelTheoretical construct representing economic processes via variables and relationships.Economic surplusMeasure of consumer and producer benefit from market exchange.Economic systemSystem of production, allocation, and distribution within an economy.Economies of scaleCost advantages obtained by enterprises due to their scale of operation.
Browse Economic Concepts & Models 1-24 in the interactive codex →