Economics

Scarcity (Economics): Causes, Effects, and Examples Scarcity Scarcity is the condition of limited resources relative to unlimited human wants; it underlies economic choice, pricing, and policy decisions across societies and markets.

Secondary sector (manufacturing and construction) Secondary sector The secondary sector transforms raw materials into finished goods and builds infrastructure. It covers manufacturing, processing, assembly and construction and plays a key role in…

Sell (verb): meaning, practice and examples Sell To sell is to transfer goods, services, or assets in exchange for payment. The term covers transactions from casual exchanges to organized retail and online commerce, and includes…

Serbian Dinar (RSD) Serbian Dinar The Serbian dinar (RSD) is the official currency of Serbia, issued by the National Bank of Serbia. It uses the dinar name in Cyrillic and Latin scripts and circulates in coins and…

Service (economics) A service is an intangible economic activity offered for payment. This article covers definitions, key features, historical development, examples, economic roles, and how services…

Service economy: definition, characteristics, history, and major sectors Service economy A clear overview of the service economy: what services are, main sectors, how services differ from goods, historical shifts, examples, and why services dominate many modern economi…

Service sector (tertiary sector): definition, characteristics and importance Service sector Overview of the service (tertiary) sector: what it produces, key features, historical shift from goods to services, common industries, economic role and notable distinctions.

Sestertius — Roman coin of the Republic and Empire Sestertius The sestertius was an ancient Roman denomination, worth two and a half asses and commonly four to a denarius. It evolved from a small bronze unit into a large brass imperial coin u…

Share (finance): ownership units in companies, funds and other entities Share (finance) A share is a unit of ownership or claim in a company, fund, REIT or partnership. This article explains types of shares, rights and risks, how they are issued and traded, and key di…

Sharecropping: system of land tenancy and labor sharing Sharecropping Sharecropping is an agricultural tenancy where a landowner and a farmer divide crops or proceeds. This article explains its mechanics, history, social effects, global forms, and de…

Shekel (ancient unit and modern currency) Shekel Shekel: originally an ancient unit of weight and medium of exchange in the Near East and North Africa; today the name survives as Israel's currency (the new shekel).

Sin tax: taxes on goods considered harmful or socially costly Sin tax An overview of sin taxes — excise levies on alcohol, tobacco, sugary drinks and similar goods — explaining aims, economic rationale, history, uses, and common criticisms.

Slave trade: forms, history, and modern legacy Slave trade An overview of the slave trade: definition, historical development across cultures, principal forms and mechanisms, social and economic effects, abolition movements, and modern hum…

Socio-economic impact of the COVID-19 pandemic Comprehensive overview of how the COVID-19 pandemic affected economies and societies: immediate shocks, sectoral winners and losers, inequality, policy responses, and lasting struc…

Souq: Traditional Middle Eastern Marketplace Souq A souq (or souk) is a historic open-air market and commercial quarter in Arab and North African cities, known for specialized traders, bargaining, and its role in social and urban…

South African rand (ZAR): currency, history, and banknotes South African rand The South African rand (R, ISO code ZAR) is South Africa’s decimal currency. This article explains its units, history, denominations, notable banknote designs and its role in the r…

Speculation in finance Speculation Speculation is the practice of buying and selling assets to profit from price changes rather than to consume or hold for income; it affects liquidity, price discovery and market vo…

Speculation and Vacancy Tax (British Columbia) Speculation tax Overview of British Columbia's Speculation and Vacancy Tax: purpose, rates, coverage, exemptions, filing rules, history, and comparison with Vancouver's Empty Homes Tax.

State capitalism: an overview of state-led market economies State capitalism State capitalism is an economic model in which the state acts as an owner or major market actor, running firms for profit while markets, firms and wage labor continue to operate.

Stern Review on the Economics of Climate Change Stern Review A summary of the 2006 Stern Review: its aims, methods, principal findings, policy recommendations, reception and lasting influence on climate economics and policy.

Stock (corporate ownership and shares) Stock An overview of stocks — equity instruments that represent partial ownership in companies — covering types, rights, trading, valuation, history, and key practical distinctions.

Stock exchange (share market, bourse) Stock exchange A stock exchange is an organized market where securities are bought and sold. It provides price discovery, liquidity and capital access for companies and investors in primary and s…

Stock market: structure, function, and significance Stock market An accessible overview of stock markets: what they are, how they work, key participants and instruments, historical development, uses, and main risks.

Stockbroker: roles, types, history, and how they work Stockbroker A stockbroker executes buy and sell orders for clients and often provides investment advice, account services and market access. This article explains their functions, types, regul…

Subsidy: Public Support to Reduce Costs and Influence Markets Subsidy An overview of subsidies: definitions, common forms, history, economic effects, typical uses, and distinctions from related policies such as tax breaks or grants.

Substitute Goods (Economics): Definition, Types, and Examples Substitute good Substitute goods are products consumers or producers can use instead of one another. When the price of one rises, demand for its substitute tends to increase. Covers characteristic…

Supply (economics) Supply Supply in economics describes how much of a good or service producers are willing to offer at various prices, the factors that shift supply, and its role in market price formation…

Supply and demand: the basic economic model of price formation Supply and demand An encyclopedia overview of supply and demand: how prices form from producers and consumers, equilibrium, shifts vs movements, elasticity, history, examples, and policy limits.

Supply-side economics: theory, history, and debates Supply-side economics Overview of supply-side economics, its theoretical mechanisms (including the Laffer Curve), historical applications, policy tools, and the main arguments for and against it.

Surplus: meaning, types, causes, and uses Surplus A clear, concise guide to surplus: definition, major types (economic, budget, trade, inventory), causes, historical context, practical examples, and policy or market implications.

Swedish krona (SEK): the currency of Sweden Swedish krona The Swedish krona (SEK) is Sweden’s official currency since 1873. Issued by Sveriges Riksbank, it is subdivided into 100 öre (now mostly non-physical). The krona retains a central…

Taiwan Stock Exchange (TWSE): overview, history, structure and trading hours Taiwan Stock Exchange The Taiwan Stock Exchange (TWSE) is Taiwan’s principal securities market, located in Taipei 101. This article summarizes its role, trading system, history, main products and practi…

Takeover (corporate acquisition) Takeover A takeover is one company acquiring control of another. Explains types (friendly, hostile, reverse, backflip), methods, motives, regulatory issues, common defenses, and effects on…

Tariff (customs duty): purpose, types, history and economic effects Tariff A tariff is a tax on goods crossing borders. This article explains types of tariffs, their uses for revenue and protectionism, historical development, economic effects, and how the…

Tax advantage (tax-favored accounts and investments) Tax advantage Tax advantage describes statutory rules that reduce, defer, or eliminate taxes on certain accounts, investments, or activities to encourage behavior deemed socially or economically…

Tax Deduction: Definition, Function, Types, and Practical Considerations Tax deduction A tax deduction reduces the income that is subject to tax. This article explains how deductions work, common types, historical context, examples, limits, and how they differ from t…

Tax rate — definition, types, and policy implications Tax rate Explanation of tax rate concepts: statutory, marginal, average and effective rates; inclusive vs exclusive bases; examples, measurement issues, history and policy relevance.

Tel Aviv Stock Exchange Israel’s principal stock exchange based in Tel Aviv, operating equity, bond, ETF and derivatives markets and maintaining national indices such as the TA‑35 and TA‑125.

Tenant farming: definition, history, and modern practice Tenant farming Tenant farming is an agricultural arrangement where the land is leased to a farmer who pays rent in cash or in-kind. This article explains forms, history, effects, and distinctions…

Thaler: the large silver coin that shaped European and global money Thaler The thaler was a large silver coin first minted in early 16th-century Bohemia. Widely copied across Europe, it influenced modern currencies such as the dollar and peso and served a…

The Economist: a British weekly magazine of international affairs The Economist The Economist is a weekly English-language magazine founded in 1843. Known for concise analysis and a classical-liberal editorial line, it covers global politics, business, science…

The General Theory of Employment, Interest, and Money (Keynes, 1936) The General Theory of Employment, Interest, and Money John Maynard Keynes's 1936 work reshaped macroeconomics by arguing that aggregate demand determines output and employment, introducing the multiplier, liquidity preference and the…

The Road to Serfdom: Hayek’s Warning on Central Planning and Freedom The Road to Serfdom A concise, neutral overview of Friedrich von Hayek’s The Road to Serfdom: its argument against central planning, publication history, reception, and continuing relevance to debates…

Third World: concept, history, and contemporary usage Third World Overview of the term 'Third World', its Cold War origins, typical characteristics and limitations, contemporary alternatives, and why the label is considered problematic today.

Three‑sector hypothesis: primary, secondary and tertiary sectors Three-sector hypothesis Economic theory that divides activity into primary (extraction), secondary (manufacture) and tertiary (services), describing structural change as economies develop; introduced by F…

Time deposit (term deposit / fixed deposit) Time deposit A bank deposit held for a fixed period with a specified interest arrangement. Withdrawals before maturity are restricted and commonly incur penalties; known as term deposit, fixed…

Time horizon A time horizon is the future point when an activity is due, evaluated, or ends. It shapes planning, evaluation, and risk, and appears in project management, finance, law, education…

Tobin tax (currency transaction tax) Tobin tax A small levy on cross-border foreign-exchange trades intended to discourage short-term currency speculation. Proposed in the 1970s, revived in the 1990s and debated as a tool for s…