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In economics, the "J curve" is the time path of a country’s trade balance following a devaluation or depreciation of its currency, under a certain set of assumptions. A devalued currency means imports are more expensive, and on the assumption that the volumes of imports and exports change little at first, this causes a fall in the current ...
In the social sciences an open system is a process that exchanges material, energy, people, capital and information with its environment. French/Greek philosopher Kostas Axelos argued that seeing the "world system" as inherently open (though unified) would solve many of the problems in the social sciences, including that of praxis (the relation ...
Trade-off. A trade-off (or tradeoff) is a situational decision that involves diminishing or losing on quality, quantity, or property of a set or design in return for gains in other aspects. In simple terms, a tradeoff is where one thing increases, and another must decrease. Tradeoffs stem from limitations of many origins, including simple ...
e. In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money.
Exchange economy. Exchange economy is technical term used in microeconomics research to describe interaction between several agents. In the market, the agent is the subject of exchange and the good is the object of exchange. Each agent brings his/her own endowment, and they can exchange products among them based on a price system.
Stabilization policy attempts to stimulate an economy out of recession or constrain the money supply to prevent excessive inflation. Fiscal policy, often tied to Keynesian economics, uses government spending and taxes to guide the economy. Fiscal stance: The size of the deficit or surplus. Tax policy: The taxes used to collect government income ...
Biobased economy, bioeconomy or biotechonomy is economic activity involving the use of biotechnology and biomass in the production of goods, services, or energy. The terms are widely used by regional development agencies, national and international organizations, and biotechnology companies. They are closely linked to the evolution of the ...
Ecological economics, bioeconomics, ecolonomy, eco-economics, or ecol-econ is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially. [ 1 ] By treating the economy as a subsystem of Earth's larger ...