Section 1031 (Like‑Kind Exchange) 1031 U.S. Internal Revenue Code Section 1031 allows deferral of capital gains tax when qualifying business or investment real property is exchanged for like‑kind property under specifie…
2020 Russia–Saudi Arabia oil price war A 2020 breakdown in OPEC+ diplomacy that sparked a sharp collapse in global oil prices, storage shortages and market disruption amid the COVID-19 demand shock.
Account (overview and types) Account An account records an identity or relationship used to track rights, resources, transactions or narrative events. This article summarizes common meanings, components, history, uses…
Accounting: Principles, Financial Statements, History and Applications Accounting Accounting records, classifies and communicates financial information about an organization. It produces financial statements, supports decisions, ensures compliance, and includes…
Adam Smith (1723–1790) — Scottish moral philosopher and economist Adam Smith Adam Smith was a Scottish moral philosopher and economist whose works The Theory of Moral Sentiments and The Wealth of Nations laid foundations for classical economics and modern m…
Affordable housing: concepts, causes, policy responses, and notable examples Affordable housing Summary of affordable housing: definition, how affordability is measured, key causes, historical examples and policy approaches used worldwide to expand access to housing.
Afghani — currency of Afghanistan Afghan afghani The afghani (ISO: AFN) is Afghanistan’s national currency. Subdivided historically into pul, it has undergone reforms and is issued by Da Afghanistan Bank; coins and banknotes vary…
African slave trade: routes, history, and lasting impact African slave trade Overview of the African slave trade, its major routes (trans‑Saharan, Indian Ocean, Atlantic), social forms, abolition, and continuing legacies including recent legal changes.
Aggregate demand (macroeconomics) Aggregate demand Aggregate demand is the total demand for final goods and services in an economy at different price levels, used to analyze output, inflation, and policy effects.
Agriculture in Azerbaijan An overview of Azerbaijan's agricultural sector: land use, major crops and livestock, historical reforms, irrigation and infrastructure, current challenges and paths toward moderni…
Agriculture in Pakistan: crops, irrigation, history and challenges Agriculture in Pakistan Summary of Pakistan's agricultural sector: economic role, major crops and rankings, irrigation and livestock, historical development, uses, and current challenges including water a…
Albanian lek The lek is Albania's national currency. Introduced in 1926, it is decimal (100 qindarka = 1 lek), commonly referred to in the plural as lekë and issued by the Bank of Albania (ISO…
Alberto Alesina: Italian Political Economist and Harvard Scholar Alberto Alesina Overview of Alberto Alesina (1957–2020), his research in political economy, academic career, major themes and influence on public finance, fiscal policy, and the political determin…
Angolan kwanza (AOA) Angolan kwanza The Angolan kwanza (ISO AOA, symbol Kz) is Angola’s national currency. Introduced in its current form in 1999 after several redenominations, it reflects the country’s economic hist…
Angus Deaton: economist of consumption, poverty and welfare Angus Deaton Scottish-born economist Angus Deaton won the 2015 Nobel Prize for his analysis of consumption, poverty and welfare; he has shaped microeconometrics, demand theory and development p…
Anne Osborn Krueger Anne O. Krueger (born 1934) is an American economist known for work on trade, development and rent-seeking. She held senior policy posts at the World Bank and IMF and teaches inter…
Annual percentage rate (APR) Annual percentage rate Annual Percentage Rate (APR) expresses the yearly cost of borrowing as a percentage, including interest and some fees. It helps compare loans, credit cards and mortgages but differ…
Argentine peso (ARS): overview, history and contemporary use Argentine peso The Argentine peso (ISO code ARS) is Argentina's currency, subdivided into 100 centavos. This article summarizes its denominations, history of reforms, convertibility era, exchange…
Asset: Definition, Types, Valuation and Role in Business Asset An asset is a resource with economic value owned or controlled to generate future benefit. Covers classifications, accounting measurement, examples, history, uses, and distinctions…
Aureus — Roman gold coin Aureus Aureus was the principal gold coin of ancient Rome from the late Republic to the 4th century AD, a high-value unit typically worth 25 denarii, used for large payments, official iss…
Austerity (fiscal policy) Austerity Austerity refers to government policies aimed at reducing budget deficits, typically by cutting spending, raising taxes, or reforming public finances. Effects depend on timing, com…
Australian dollar (AUD) Australian dollar The Australian dollar (AUD) is the official currency of Australia and several Pacific territories. It is a decimal currency, widely traded, with polymer banknotes and coins issued…
Australian pound (1910–1966) Australian pound Former currency of Australia from 1910 to 1966, divided into pounds, shillings and pence; replaced by the decimal Australian dollar at £1 = $2 on 14 February 1966.
Austrian School of Economics Austrian School A heterodox economic tradition emphasizing individual choice, subjective value, and the market process, originating in late‑19th century Vienna and known for critiques of central p…
Autarky: Economic Self-Sufficiency and Closed Economies Autarky Autarky is a policy or condition of economic self-sufficiency with minimal or no trade. This article explains definitions, types, historical examples, economic effects and modern s…
Autonomous consumption: definition, role in the consumption function, and policy relevance Autonomous consumption Autonomous consumption is the portion of spending that occurs when income is zero or does not vary with income. It anchors the consumption function and matters for demand, fiscal p…
Bahamian dollar (BSD) Bahamian dollar The Bahamian dollar (BSD), subdivided into 100 cents, is the currency of The Bahamas. It uses the $ symbol and B$ abbreviation and is issued by the Central Bank of The Bahamas.
Bahraini dinar (BHD) Bahraini dinar The Bahraini dinar (BHD) is the official currency of the Kingdom of Bahrain, divided into 1,000 fils. Issued by the Central Bank of Bahrain, it is among the world’s highest-valued…
Baku Stock Exchange — Azerbaijan's principal securities market Baku Stock Exchange The Baku Stock Exchange (BSE) is Azerbaijan’s primary securities market, established in 2000. It handles trading in equities and debt instruments and plays a central role in the co…
Balanced budget: definition, types, economic debate, and policy implications Balanced budget A balanced budget occurs when expenditures equal revenues. This article explains definitions, types (cyclical, structural), arguments for and against, historical context, examples,…
Barbadian dollar (BBD) — currency of Barbados Barbadian dollar The Barbadian dollar (BBD) is the official currency of Barbados, subdivided into 100 cents and commonly written as $ or Bds$. It serves domestic commerce, tourism and is issued by…
Barriers to entry Legal, economic, and practical obstacles that make it difficult for new firms or individuals to enter a market; types, examples, effects on competition, and common policy responses…
Barter: Direct exchange of goods and services without money Barter Barter is the direct trade of goods or services between parties without a money medium. This article explains how barter works, its history, types, uses, advantages, and limitation…
Basic income (universal basic income) Basic income Basic income is a regular cash payment to all residents or citizens intended to provide economic security. Variants, pilots, arguments, and funding methods differ widely across pro…
Bazaar: History, Structure, and Cultural Significance Bazaar A bazaar is a traditional marketplace originating in Persia that functions as a commercial, social, and cultural center. This article covers its origins, typical layout, notable ex…
Behavioral economics: how psychology reshapes economic thinking Behavioral economics Behavioral economics blends psychological insights with economic analysis to explain how real people make decisions, including systematic biases, limited self-control, and policy a…
Belarusian ruble — currency of Belarus (Br, ISO BYN) Belarusian ruble The Belarusian ruble (symbol Br, ISO code BYN) is the national currency of Belarus. This article explains its form, history, redenominations, subdivisions, and role in the economy.
Belgian franc Former currency of Belgium from 1848 until the euro era; issued in coins and banknotes, decimal (centimes), and closely linked to the Luxembourg franc before euro conversion.
Belize dollar: overview, denominations, history and uses Belize dollar The Belize dollar (symbol $ or BZ$) is Belize's official currency, divided into 100 cents and commonly pegged to the US dollar. This article explains its denominations, origins, us…
Benelux: economic and political cooperation of Belgium, the Netherlands and Luxembourg Benelux Benelux is a long-standing regional union of Belgium, the Netherlands and Luxembourg that coordinates economic policy, cross‑border cooperation and legal harmonization in northwest…
Bernard Lietaer — Economist and Advocate of Complementary Currencies Bernard Lietaer Belgian civil engineer, economist and author who researched monetary systems and promoted local and complementary currencies; best known for The Future of Money and New Money for a…
Big Mac Index: A simple measure of purchasing power parity Big Mac Index An accessible explanation of the Big Mac Index: what it measures, how it is calculated, its history, typical uses, and the main strengths and limitations of this informal currency…
Billionaire An individual whose net worth equals or exceeds one billion units of a currency; covers definition, sources of wealth, social role, history, and distinctions among extreme wealth h…
Black market Overview of black markets: illegal trade outside regulated channels; typical goods and harms, economic drivers, organization and technology, measurement challenges, and policy resp…
Bombay Stock Exchange (BSE) Bombay Stock Exchange Overview of the Bombay Stock Exchange (BSE): its history, structure, main indices, trading practices, and role in India's financial markets.
Bond (finance) — overview, types, uses, and risks Bond (finance) A bond is a fixed-income security representing a loan from investors to an issuer. This article explains how bonds work, their main features, history, common types, uses and key ri…
Bond market (fixed-income market) Bond market Market where debt securities are issued and traded. It connects borrowers and investors through government, corporate and municipal bonds across primary and secondary markets world…
Bookkeeping: Recording and Organizing Financial Transactions Bookkeeping Bookkeeping is the systematic recording and organization of a person's or organization's financial transactions. Covers methods, records, history, practical uses, and how it differ…
