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| basis point |
a unit equal to one hundredth of one percent, used in economics and finance to measure exchange rates, interest rates, and the like. |
| county agent |
a person employed by the government in rural areas to advise and educate in farming, managing natural resources, home economics, and the like; agricultural agent. |
| demand |
in economics, the desire of consumers for goods or services. [1/9 definitions] |
| diminishing returns |
a proposition in economics that when the amount of one factor of production, such as labor, is increased past a certain point while the amounts of other factors, such as land or capital, are held constant, additional output will increase only at a progressively lower and lower rate. |
| domestic science |
see "home economics." |
| econometrics |
(used with a sing. verb) the application of mathematical and statistical methods to research in economics. |
| economist |
a person who has expertise in the study of economics. |
| elasticity |
in economics, the degree to which changes in price cause changes in supply or demand for goods or services. [1/3 definitions] |
| Marxism |
the theories and doctrines of Karl Marx, esp. those concerning economics, dialectical materialism, and conflict between social classes. |
| Nobel prize |
any of the international prizes awarded annually for achievements in physics, chemistry, economics, medicine or physiology, literature, and the promotion of peace, by a Swedish foundation established according to the bequest of Alfred Nobel. |
| protect |
in economics, to guard the secure growth of (an industry) by means of tariffs on competing goods from other countries. [1/3 definitions] |
| protection |
in economics, the providing of security to native industry by charging tariffs on competing imported goods. [1/4 definitions] |
| supply1 |
in economics, the amount of a commodity available for purchase at a particular price. [1/9 definitions] |
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