Factors of production
Production involves the creation of goods and services by using scarce resources.…
Consumers
Introduction Definitions and Basics ● Consumer, from Answers.com ● Consumer: ● 1. One that consumes,…
Compound Interest
Introduction Definitions and Basics ● Interest, from the Concise Encyclopedia of Economics ● Interest is…
Credit
Introduction Definitions and Basics ● Credit, from Dictionary.com ● Definition: credit: ○ 5. confidence in…
Government Budget Deficits and Government Debt
Introduction Definitions and Basics ● Government Debt and Deficits, from the Concise Encyclopedia of…
Government Failures, Rent Seeking, and Public Choice
Introduction Definitions and Basics ● Rent Seeking, by David R. Henderson, from the Concise…
Market Failures, Public Goods, and Externalities
Introduction Definitions and Basics ● Definition: Market failure, from Answers.com ● An economic term that…
Roles of Government
Introduction Definitions and Basics ● Public Goods and Externalities, from the Concise Encyclopedia of…
