Economics

Bookmaker (bookie): overview, operation, history and contemporary issues Bookmaker Comprehensive overview of bookmakers: what they do, how odds and risk are managed, common bet types, settlement, history, regulation, differences from exchanges and consumer protec…

Brent Crude Brent Crude is a widely used global benchmark for crude oil prices. Originating from North Sea production, it denotes a light, low‑sulphur blend used in trading, pricing and contra…

Bretton Woods system (postwar fixed-exchange-rate regime) Bretton Woods system An overview of the Bretton Woods system: its rules, institutions, history from the 1944 conference to the early 1970s collapse, and its legacy for international finance and monetar…

BRICS — Brazil, Russia, India, China, South Africa (emerging economies) BRICS BRICS is a loose association of five major emerging economies — Brazil, Russia, India, China and South Africa — notable for fast growth, large markets and a shared platform for pol…

Budget: Principles, Types, Planning and Control Budget An encyclopedic overview of budgets: definition, common types, preparation methods, public and private practice, budgetary balance (surplus, deficit, balanced) and best practices f…

Budget airline (low-cost carrier) Budget airline An overview of budget airlines (low-cost carriers): their defining features, history, business model, typical practices, and how they differ from traditional carriers.

Bureau of Economic Analysis (BEA) Bureau of Economic Analysis U.S. federal agency that produces key economic statistics—most notably GDP—providing national, regional, industry, and international accounts used by policymakers, businesses, and…

Canadian dollar (CAD) Canadian dollar Official currency of Canada, introduced with decimalization in 1858; issued by the Bank of Canada and used domestically and in parts of Saint Pierre and Miquelon.

Capital: assets, cities, and other meanings Capital Overview of 'capital' covering economic forms (financial, physical, human, social), capital as a city and other senses, with history, uses, and key distinctions.

Capital in economics and finance: assets, production, and accounting Capital (economics) Overview of capital in economics, finance, and accounting: meanings as assets, production inputs, financial resources and owners’ equity, plus categories like fixed capital, workin…

Capital accumulation Capital accumulation is the process of increasing wealth through acquiring assets, investment and skill formation; it underpins production, growth and distribution in modern econom…

Capitalism: An Overview of the Economic System Capitalism A concise encyclopedia overview of capitalism: its defining features, history, variants, institutions, effects and common debates about markets, property and the role of the state.

Cartel (economic agreement among firms) Cartel A cartel is an agreement among independent firms to coordinate prices, output or bids to increase profits. This article explains types, mechanisms, economic effects, history, and l…

Cash (physical money) Cash Physical money in the form of banknotes and coins used as a medium of exchange, store of value, and unit of account; contrasts with electronic payments and has distinct uses and li…

Cent (currency unit) Cent (currency) A cent is a common monetary subunit equal to one one‑hundredth of a primary currency unit, used under names such as cent, centime, centavo or penny and present in many decimal syst…

Central bank: role, tools, history and significance Central bank Overview of central banks: their functions (currency issuance, monetary policy, supervision), main tools, historical development, relationship with government, examples and key dis…

Certificate of Deposit (CD): definition, types, uses and risks Certificate of deposit A certificate of deposit (CD) is a fixed‑term deposit at a bank or credit union that pays interest in exchange for locking funds for a set period. This article explains features, v…

CFA franc (West and Central African currencies) CFA franc The CFA franc is a currency used in two African monetary unions. It exists in West and Central versions, shares a fixed parity, and is issued by regional central banks under histor…

Change (money) Money returned to a payer when cash exceeds the purchase price, or small coin denominations used for everyday payments; includes practices like exact change and modern distinctions…

Charles Horioka: Economist Specializing in Savings, Consumption and the Asian Economy Charles Horioka Charles Yuji Horioka (b.1956) is a Japanese‑American economist known for work on household saving, consumption, and the Feldstein–Horioka puzzle. He has taught internationally and…

Cheap (price, quality, and social meaning) Cheap Survey of the word "cheap": meanings from low price to stinginess, historical origins, economic uses, social connotations, ethical issues, idioms, and practical consumer guidance.

Chilean peso The Chilean peso (CLP) is Chile's national currency. This article explains its form, history, denominations, monetary management and practical notes for use and exchange.

Classical economics: principles, history, and legacy Classical economics An overview of classical economics: its central ideas, major figures, historical development, policy influence, and distinctions from other economic schools.

Clearing bank A clearing bank processes payment instructions and turns promises of payment into settled transfers between accounts, working with clearing houses, central banks and payment system…

Coin: metal money — history, characteristics and uses Coin Overview of coins as metal currency: materials and parts, early origins in Lydia, minting, circulation and uses, distinctions like bullion vs fiat, and the collecting field of numi…

Colin Grant Clark — pioneer of national income accounting Colin Clark (economist) Colin Grant Clark (1905–1989) was a British–Australian economist and statistician who helped establish gross national product and systematic national income accounting as central t…

Command economy An economic system in which a central authority directs production and allocation of resources. Covers defining features, historical development, debates over efficiency and innova…

Commerce: the organized exchange of goods and services Commerce Commerce is the organized activity of buying, selling and moving goods and services, encompassing markets, finance, regulation, and the systems that connect producers and consumers…

Commercial Relating to commerce, trade, business activities, or paid advertising; covers legal, economic, media, and property meanings and distinctions from non‑commercial uses.

Commodity (economics and political economy) Commodity A commodity is a standardized good or raw material traded mainly on price. The term has a market-based meaning in business and a distinct meaning in Marxian political economy focus…

Commodity market: structure, history, functions, and contemporary issues Commodity market Overview of commodity markets: what they trade, how markets are organized, historical development, uses (hedging, price discovery), examples, and key distinctions with other financ…

Common goods (economics): characteristics, examples, and governance Common good (economics) In economics, common goods (common-pool resources) are rivalrous and non-excludable resources. This article explains their features, history, examples, problems and governance opti…

Comparative advantage: theory, history, and practical implications Comparative advantage Comparative advantage explains how individuals, firms, or countries gain by specializing in activities with the lowest opportunity cost. Overview, history, examples, limits, and po…

Competition (economics): concepts, types, effects, and regulation Competition (economics) An overview of economic competition: core ideas, main market structures, historical roots, analytical approaches and policy concerns including effects on prices, innovation, and we…

Competitive advantage (business and economics) Competitive advantage An explanation of competitive advantage: what it is, types, history, measurement, examples, and how firms build or lose advantages in markets.

Complementary Good A complementary good is one whose demand increases when consumed together with another product; measured by negative cross-price elasticity and important for bundles, markets, and…

Constitutional economics: institutions, rights, and economic policy Constitutional economics Study of how constitutional rules shape economic policy and resource allocation, linking constitutional law, institutional design, and public finance to protect rights and constrai…

Consumer (economics): definition, roles, behavior and significance Consumer A consumer is an individual or organization that uses goods, services, or commodities. This article explains types, decision factors, economic role, historical trends, protections,…

Consumer Price Index (CPI): Definition, Construction, Uses, and Limitations Consumer price index The consumer price index (CPI) tracks the change in prices paid by households for a representative basket of goods and services. Explains its construction, types, uses, and common…

Household Consumption: Types, Determinants, and Macroeconomic Role Consumer spending Overview of household consumption: types (durable, nondurable, services), income and credit determinants, measurement methods, and its macroeconomic role in aggregate demand and po…

Consumption (economics): household spending and its macroeconomic role Consumption (economics) Overview of consumption in economics: definition, types, determinants, major theories, measurement, and its importance for GDP and policy.

Consumption function The consumption function describes how households' consumer spending depends on disposable income and other factors; it underpins Keynesian multiplier analysis and evolved into mod…

Corporate tax Levies imposed on corporate profits; covers who pays, taxable base, common features, international issues, and distinctions from other business taxes.

Cost (economics, accounting, and decision making) Cost Overview of cost as a concept in economics, accounting and business: definitions, common types (fixed, variable, marginal, sunk, opportunity), measurement, allocation, and uses in…

Costa Rican colón (CRC) Costa Rican colón The colón (₡, ISO CRC) is Costa Rica's official currency, subdivided into 100 céntimos. Issued and regulated by the Central Bank, it circulates in coins and banknotes and is common…

COVID-19 recession (Great Lockdown) COVID-19 recession Global economic downturn in 2020 caused by the COVID-19 pandemic and public health shutdowns, producing sharp contractions, job losses, large policy responses and an uneven recover…

Credit (finance): trust, lending, and repayment Credit Credit is the trust enabling one party to borrow resources from another with a promise to repay; it includes loans, credit cards, scores, and systems that assess and manage lending…

Credit Default Swap: Definition, Mechanics, Uses and Risks Credit default swap A credit default swap (CDS) is a financial contract transferring the credit risk of a borrower from one party to another. This article explains how CDSs work, their uses, and the m…