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austerity a tightened or stringent economy, as when there are high taxes, frozen wages, and shortages of consumer goods. [1/3 definitions]
banana republic (informal) a small, often politically unstable Central American country with a one-crop economy that is controlled by foreign capital (used as a derogatory label).
bearish of or pertaining to a real or expected decline in the stock market or in the economy. [1/2 definitions]
bullish of, concerning, or characteristic of a booming economy or stock market or a person who expects it to be so. [1/3 definitions]
buyer's market a market or economy in which prices are relatively low because of an abundance of goods or services. (Cf. seller's market.)
cheeseparing miserly economy; stinginess. [1/3 definitions]
collectivize to organize or reorganize (an economy, business, or industry) based on collective ownership and control of the means of production and distribution.
consumerism the idea that the consumption of goods is beneficial to society or its economy. [1/2 definitions]
crash1 the sudden failure of a financial or other enterprise, or of the economy in general. [1/17 definitions]
disequilibrium a lack or loss of stability, balance, or equilibrium, esp. in the economy.
downswing a downward turn or trend, as in the economy. [1/2 definitions]
downturn a turn or tendency downward, as in business or the economy; decline.
economics (used with a pl. verb) matters of finance or economy; financial affairs. [1/2 definitions]
economy see political economy. [1/5 definitions]
elliptical pertaining to economy of oral or written expression. [2/4 definitions]
free enterprise the notion that a capitalist economy does not require government support or intervention, but can regulate itself through the relationships of supply and demand in a freely competitive market.
globalization the process or idea of the world becoming more like that of a single nation with one shared economy and culture rather than separate, distinct countries.
macroeconomics (used with a sing. verb) the study of a nation's economy as a whole and of the interrelationships of its various sectors and components. (Cf. microeconomics.)
mercantilism the doctrine, developed in the West after the decline of feudalism, that a nation's economy could be strengthened by governmental protection of home industries, by increased foreign exports, and by accumulating gold and silver. [1/2 definitions]
state socialism the theory, doctrine, or practice of a planned economy controlled by the state and based on state ownership of major shipping lines, public utilities, and basic industries.
subeconomy combined form of economy.