Economics is the study of the production, distribution, and consumption of goods and services. It is the basis of our daily lives. Whether it is an explanatio of how firms work, or customers buy, or government subsidies, economists attempt to understand the economy and the way it responds to various influences, such as changes in federal interest rates.
Dictionary of Economics aims to cover the main aspects of the study of economics, which students will need to learn when studying for examinations at various levels. It includes selected terms concerning to the topics like accounting, international trade, finance, banking, business, taxation, demand and supply theories, insurance and e-commerce. Effort has been made to write the entries in a clear and lucid style to provide both straightforward definitions and invaluable background information. This dictionary will enable the reader, who is not equipped much with the knowledge of economics, to face economic affairs in his day-to-day life.
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