Economics

Fiscal policy: taxation, government spending and economic stabilization Fiscal policy Fiscal policy is government use of taxation and public spending to influence aggregate demand, resource allocation, distribution of income, and macroeconomic stability.

Five-and-dime (five and ten cent stores) Five and dime General overview of five-and-dime stores: low-price variety retailers that shaped U.S. retail from the late 19th century through the 20th century, their merchandise, business model…

Soviet Five-Year Plans: Centralized Economic Planning and Industrialization Five-year plans for the national economy of the Soviet Union Overview of the Soviet five-year plans: state-run multiyear programs that directed industrialization, collectivization and infrastructure development, their achievements, human cos…

Fixed exchange rate system A monetary regime in which a government or central bank pegs its currency to another currency, a basket of currencies, or a commodity and maintains that rate with interventions.

Flipping (buy-and-sell for short-term profit) Flipping Flipping is the practice of buying assets with the intention to resell quickly for a profit. It appears across real estate, goods, domains, and financial offerings and carries dist…

Floating exchange rate A currency exchange rate determined by market forces, able to change continuously under supply and demand; contrasts with fixed or pegged rates and may be free or managed by author…

Foreign exchange market (Forex) Foreign exchange market The global marketplace for buying and selling currencies. Explains market structure, history, instruments, participants, trading hours, uses like hedging and speculation, and key r…

Foreign reserves (foreign exchange reserves) Foreign reserve Foreign reserves are liquid assets held by a country’s monetary authorities—typically a central bank—to support the national currency, meet external obligations, and conduct exchan…

Fortune Overview of 'fortune' as wealth, luck, destiny, and cultural symbol, covering etymology, main senses, cultural uses, fortune-telling, language, and distinctions between fate and ma…

Four Asian Tigers (Hong Kong, Singapore, South Korea, Taiwan) Four Asian Tigers Overview and history of the Four Asian Tigers — Hong Kong, Singapore, South Korea and Taiwan — their export-led industrialization, policies, distinctive sectors, political developm…

Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) Frankfurt Stock Exchange Germany's largest securities exchange, based in Frankfurt. Operated by Deutsche Börse, it hosts electronic trading (Xetra), major indices such as the DAX, and multiple listing segm…

Free good (economics): definition, types, and implications Free good An economic free good is non-scarce and available without opportunity cost. This article explains its definition, types, examples, legal limits, and how intellectual property and t…

Free market An economic system in which prices and the distribution of goods and services are set by voluntary exchange, competition, and supply and demand with little or no central planning o…

Free rider problem The free rider problem is a collective-action dilemma in which individuals benefit from a resource, good, or service without contributing to its cost, causing under-provision or ov…

Freemium (business model) Freemium Freemium is a pricing and distribution approach in which a basic product is free while enhanced features or content are sold, common in software, apps, cloud services, and games.

Friedrich August von Hayek Friedrich Hayek Austrian-British economist and political philosopher (1899–1992) who argued that dispersed knowledge, price signals and spontaneous order favor limited government and free markets.

Frugality: principles, history, and practical approaches Frugality Frugality is the careful management of resources to maximize value and reduce waste. This article explains its practices, cultural history, benefits, and how it differs from cheapn…

FTSE 100 Index — United Kingdom large-cap stock market benchmark FTSE 100 Index A market-capitalization index of the 100 largest companies listed on the London Stock Exchange, used as a barometer of UK large-cap equity performance and as a basis for funds and…

Futures contract A futures contract is a standardized, exchange-traded obligation to buy or sell an underlying asset at a set price on a future date, widely used for hedging, speculation and price…

Gambling: Definition, History, Types, and Social Impact Gambling Gambling is staking money or valuables on an uncertain outcome. This article explains its forms, mechanics, history, regulation, social effects, and guidance for responsible play.

Gapik (qapik): the Azerbaijani subunit of the manat Gapik Gapik (qapik) is the 1/100 fractional unit of the Azerbaijani manat. This article explains denominations, composition, name origin and historical and practical context.

Gary Becker: Economist of Human Behavior and Social Theory Gary Becker Concise overview of Gary S. Becker’s life, major ideas (human capital, family economics, discrimination, crime, addiction, altruism), academic career, honors, reception, and legacy…

Generally Accepted Accounting Principles (GAAP) Generally Accepted Accounting Principles A framework of accounting standards, principles and procedures used mainly in the United States to prepare and present financial statements with consistency and comparability.

George A. Akerlof George Akerlof American economist George Akerlof, Nobel laureate known for work on asymmetric information, the ‘market for lemons’, and identity economics; professor at Georgetown and UC Berkeley…

George Stigler American economist George J. Stigler (1911–1991) was a leader of the Chicago School, winner of the 1982 Nobel Prize in Economics, known for work on market processes, regulation, an…

Giffen Good: Definition, Explanation, History, and Distinctions Giffen good A Giffen good is a rare case where higher prices lead to higher demand because the income effect on an inferior staple outweighs the substitution effect; this article explains caus…

Gini coefficient: a measure of statistical inequality Gini coefficient The Gini coefficient quantifies inequality in a distribution (commonly income or wealth). It ranges from 0 (perfect equality) to 1 (maximal inequality) and is derived from the Lore…

Good (economics): definition, types, and role in markets Good (economics) An economic good is a tangible product or resource that provides utility and is subject to scarcity. Covers definitions, main types, distinctions from services, examples, and moder…

Great Recession (2007–2009): causes, effects and legacy Great Recession Worldwide economic downturn beginning in 2007–2009, triggered by a US financial and housing crisis. Caused contractions in GDP, high unemployment, policy responses and long-term ch…

Greek government-debt crisis: causes, timeline, and consequences Greek government-debt crisis Overview of the Greek government-debt crisis: origins after the 2007–08 shock, fiscal imbalances, austerity programmes, bailouts, social and economic effects, and its place in the…

Gresham's Law: why 'bad money drives out good' Gresham's law Economic rule that when two monies are legally accepted at a fixed rate, the currency judged lower in intrinsic value circulates while the higher-quality money is hoarded or export…

Grey market (parallel imports): definition, risks, causes and responses Grey market An overview of grey markets (parallel imports): legal sale of genuine goods outside authorized channels, associated consumer and economic risks, legal issues, manufacturer strategi…

Gross domestic product (GDP) Gross domestic product Gross domestic product (GDP) measures the market value of all final goods and services produced within a country over a period. It is used to track economic size, growth and living…

Gross regional domestic product (GRDP) Gross regional domestic product Gross regional domestic product measures the total economic output produced within a defined subnational area. It is used for regional analysis, planning, and comparison with natio…

Growth capital: definition, characteristics, uses and distinctions Growth capital Growth capital (growth equity) is private equity invested in established companies to finance expansion—often as minority stakes with active support, intermediate risk and long-ter…

Growth–Share Matrix (BCG Matrix): Overview, Components, Uses, and Criticism Growth-share matrix A concise guide to the Growth–Share (BCG) matrix: its structure, quadrants, origins, practical uses for resource allocation, common strategies, and known limitations.

Harry Markowitz — Pioneer of Modern Portfolio Theory Harry Markowitz Harry Markowitz pioneered Modern Portfolio Theory and mean–variance optimization; his work on diversification and the efficient frontier transformed investment analysis and won the…

Hedge fund: overview, strategies, risks, and investor considerations Hedge fund Pooled investment vehicles using diverse strategies—leverage, derivatives, shorting—to pursue absolute returns for qualified investors; distinct fees, liquidity rules, and regulato…

Herbert Scarf: economist, algorithm designer, and contributor to mathematical economics Herbert Scarf Overview of Herbert E. Scarf, his research in general equilibrium and computational economics, major honors, career highlights, and lasting influence on operations research and eco…

Hla Myint: Burmese Development Economist and Advocate of Export-Led Growth Hla Myint Profile of Hla Myint (1920–2017), a Burmese economist known for contributions to development economics, welfare thought, and advocacy of export-oriented growth; longtime professor…

Home Economics: Household Management, Nutrition, and Family Studies Home economics Home economics studies the management of households and communities, covering budgeting, nutrition, childcare, textiles, and practical skills for wellbeing, education, and career p…

Household: social unit, economic role, and types Household A household is a group of people who share a dwelling and common living arrangements. This article explains its definitions, composition, economic role, measurement, history, and d…

Household income in the United States Definition and measurement of household income in the U.S., its components, historical trends, uses in policy and research, distributional patterns, and limitations of the measure.

Housing in the United States: Overview, History, and Policy Housing in the United States A concise encyclopedia entry describing the role, types, history, economic importance, and policy challenges of housing in the United States.

Hydrogen economy: concept, uses, challenges, and development Hydrogen economy Overview of the hydrogen economy: production and storage methods, applications in transport and power, environmental trade-offs, infrastructure needs, and current challenges for sc…

Hyperinflation: causes, historical examples, effects and remedies Hyperinflation Hyperinflation is an extreme, rapid rise in prices resulting from a collapse in currency value. This article explains what it is, its causes, notable episodes, consequences and com…

Icelandic króna (ISK): currency of Iceland Icelandic króna Overview of the Icelandic króna (ISK), its denominations, issuing authority, history, uses, and notable features including coins, banknotes and economic context.

Illegal drug trade: overview, markets, impacts and enforcement Illegal drug trade A concise, neutral overview of the illegal drug trade: what it is, how production and distribution work, common substances, social and economic impacts, law enforcement responses,…