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Economic Terms
23 posts
What is stagflation?
DEFINITION Stagflation is when there’s high inflation during a time of slow economic growth. Stagflation is a problem for policymakers,…
The US Securities and Exchange Commission and how it protects you
The U.S. Securities and Exchange Commission is a federal organization that oversees U.S. Stock Market. The SEC has greatly reduced the chances…
Black Tuesday: Its Causes, and How it Kickstarted the Depression
Black Tuesday was the last and fourth day of the 1929 stock market crash. It happened on October 29,…
What is Financial Capital?
DEFINITION Financial Capital is money and credit or other sources of funding used to build wealth. The Key Takeaways…
What is black friday?
Black Saturday occurs the day following Thanksgiving. Retailers offer steep discounts during this annual shopping day to kick-off the holiday…
What is Laissez-Faire Economic Theory (LFE)?
Laissez faire economics restricts the government’s intervention in the economy. The theory holds that an economy’s strength is when the…
What is Universal Basic Income (UBI)?
DEFINITION Universal basic income is a proposed government-guaranteed payment that each citizen receives. The purpose of the universal basic income…
Profit as the motive for capitalism
Profit is the remaining revenue after all costs have been paid. These costs include materials, labor, interest on loans,…
How to calculate, compare, and rank the cost of living
Life is expensive. The average person requires certain items and services to maintain a standard lifestyle. The Bureau of Labor…
What is the Phillips Curve?
DEFINITION The Phillips Curve shows the relationship between unemployment and inflation. The graph shows that unemployment is lower when inflation…