Economics Terms

Some of the important terms used in the field of Economics are:

• Absolute advantage
• Accelerator Principle
• Aggregate demand
• Aggregate supply
• Alternative minimum tax
• Asset
• Average propensity to consume
• Average propensity to save
• Average total cost
• Asymmetric Information
• Balance of Payment
• Balance of trade
• Barter system
• Base year
• Bid price
• Bill of exchange
• Birth rate
• Bond
• Boom
• Break Even Point
• Bretton Woods
• Budget
• Budget deficit
• Bull
• Call money
• Capital
• Capital account
• Capital budget
• Capital Asset Pricing Model 
• Capital Gains tax
• Cartel
• Census
• Central bank
• Centrally planned economy
• Closed economy
• Collateral security
• Commercial Policy
• Comparative advantage
• Compound interest
• Consumer Surplus
• Conditionality
• Copyright
• Correlation coefficient
• Cost benefit analysis
• Countervailing duties
• Current account
• Cross elasticity of demand
• Crowding out
• Currency appreciation
• Currency board
• Currency substitution
• Customs duty
• Death rate
• Deflation
• Depreciation
• Dumping
• Direct investment
• Direct tax
• Double taxation
• Duopoly
• Economic growth
• Econometrics
• Economic development
• Economic infrastructure
• Economic integration
• Economic policy
• Economies of Scale
• Elasticity of Demand
• Excess capacity
• Excess demand
• Exchange control
• Exchange rate
• Export incentives
• Exports
• Externalities
• Fiscal deficit
• Fiscal policy
• Fixed costs
• Fixed exchange rate
• Foreign aid
• Foreign Direct Investment (FDI)
• Foreign exchange reserves
• Free trade
• Free-trade area
• Free-market exchange rate
• Fringe benefit
• Gains from trade
• General Agreement on Tariffs and Trade (GATT)
• Giffen goods
• Gross Domestic Product (GDP
• Gross National Product (GNP)
• Globalisation
• Human capital
• Imperfect competition
• Imperfect market
• Import substitution
• Income inequality
• Index of industrial production
• Inflation
• Indirect tax
• Interdependence
• International commodity agreement
• International Labour Organization (ILO)
• International Monetary Fund (IMF)
• International poverty line
• Land reform
• Macroeconomic stabilization
• Macroeconomics
• Market
• Market economy
• Market failure
• Market-friendly approach
• Market mechanism
• Market prices
• Merchandise exports and imports
• Merchandise trade balance
• Microeconomics
• Middle-Income Countries (MICs)
• Mixed economic systems
• Monetary policy
• Money supply
• Monopoly
• Multi-Fibre Arrangement (MFA)
• Multinational Corporation (MNC)
• National debt
• Public debt
• Newly Industrializing Countries (NICs)
• Nongovernmental Organizations (NGOs)
• Nontariff trade barrier
• Oligopoly
• Official Development Assistance (ODA)
• Official exchange rate
• Open economy
• Opportunity cost
• Organization for Economic Cooperation and Development (OECD
• Overvalued exchange rate
• Perfect competition
• Performance budget
• Political economy
• Portfolio investment
• Poverty gap
• Poverty line
• Price
• Price elasticity of demand
• Price elasticity of supply
• Quota
• Repo rate
• Revenue expenditure
• Revenue receipts
• Stabilization policies
• Subsidy
• Tariffs
• Tax avoidance
• Tax base
• Tax evasion
• Terms of trade
• Treasury bill
• Value Added Tax (VAT)
• World Bank
• World Trade Organisation (WTO)