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54 relations: Alain Anderton, Allocative efficiency, Anglosphere, Austrian School, Average cost, Business cycle, Classical economics, Classical liberalism, Compensation principle, Deregulation, Distribution (economics), Distributive efficiency, Dynamic efficiency, Economic equilibrium, Economic liberalism, Efficiency, Efficiency ratio, Efficient-market hypothesis, Engineering, Externality, Financial market, Fiscal policy, Fishery Resources Monitoring System, Freiburg school, Fundamental theorems of welfare economics, Heterodox economics, Information, Institutional economics, Kaldor–Hicks efficiency, Keynesian economics, Laissez-faire, Limited government, Long run and short run, Mainstream economics, Market (economics), Market distortion, Market economy, Market failure, Mathematical optimization, Microeconomic reform, Monetary policy, Neoclassical economics, Neoliberalism, Ordoliberalism, Pareto efficiency, Perfect competition, Production (economics), Productive efficiency, Schools of economic thought, Social welfare function, ..., Theory of the second best, Utility, Welfare economics, X-inefficiency. Expand index (4 more) »
Alain Anderton
Alain G. Anderton is an author of business studies and economics textbooks for use in secondary education in the U.K..
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Allocative efficiency
Allocative efficiency is a state of the economy in which production represents consumer preferences; in particular, every good or service is produced up to the point where the last unit provides a marginal benefit to consumers equal to the marginal cost of producing.
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Anglosphere
The Anglosphere is a set of English-speaking nations which share common roots in British culture and history, which today maintain close cultural, political, diplomatic and military cooperation.
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Austrian School
The Austrian School is a school of economic thought that is based on methodological individualism—the concept that social phenomena result from the motivations and actions of individuals.
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Average cost
In economics, average cost and/or unit cost is equal to total cost divided by the number of goods produced (the output quantity, Q).
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Business cycle
The business cycle, also known as the economic cycle or trade cycle, is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend.
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Classical economics
Classical economics or classical political economy (also known as liberal economics) is a school of thought in economics that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century.
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Classical liberalism
Classical liberalism is a political ideology and a branch of liberalism which advocates civil liberties under the rule of law with an emphasis on economic freedom.
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Compensation principle
In welfare economics, the compensation principle refers to a decision rule used to select between pairs of alternative feasible social states.
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Deregulation
Deregulation is the process of removing or reducing state regulations, typically in the economic sphere.
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Distribution (economics)
In economics, distribution is the way total output, income, or wealth is distributed among individuals or among the factors of production (such as labour, land, and capital).
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Distributive efficiency
In welfare economics, distributive efficiency occurs when goods and services are received by those who have the greatest need for them.
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Dynamic efficiency
In economics, dynamic efficiency is a situation where it is impossible to make one generation better off without making any other generation worse off.
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Economic equilibrium
In economics, economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.
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Economic liberalism
Economic liberalism is an economic system organized on individual lines, which means the greatest possible number of economic decisions are made by individuals or households rather than by collective institutions or organizations.
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Efficiency
Efficiency is the (often measurable) ability to avoid wasting materials, energy, efforts, money, and time in doing something or in producing a desired result.
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Efficiency ratio
The efficiency ratio indicates the expenses as a percentage of revenue (expenses / revenue), with a few variations – it is essentially how much a corporation or individual spends to make a dollar; entities are supposed to attempt minimizing efficiency ratios (reducing expenses and increasing earnings).
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Efficient-market hypothesis
The efficient-market hypothesis (EMH) is a theory in financial economics that states that asset prices fully reflect all available information.
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Engineering
Engineering is the creative application of science, mathematical methods, and empirical evidence to the innovation, design, construction, operation and maintenance of structures, machines, materials, devices, systems, processes, and organizations.
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Externality
In economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit.
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Financial market
A financial market is a market in which people trade financial securities and derivatives such as futures and options at low transaction costs.
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Fiscal policy
In economics and political science, fiscal policy is the use of government revenue collection (mainly taxes) and expenditure (spending) to influence the economy.
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Fishery Resources Monitoring System
The Fishery Resources Monitoring System (FIRMS) is a partnership of intergovernmental fisheries organizations that share a wide range of high-quality information on the global monitoring and management of marine fishery resources.
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Freiburg school
__notoc__ The Freiburg School (Freiburger Schule) is a school of economic thought founded in the 1930s at the University of Freiburg.
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Fundamental theorems of welfare economics
There are two fundamental theorems of welfare economics.
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Heterodox economics
Heterodoxy is a term that may be used in contrast with orthodoxy in schools of economic thought or methodologies, that may be beyond neoclassical economics.
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Information
Information is any entity or form that provides the answer to a question of some kind or resolves uncertainty.
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Institutional economics
Institutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping economic behaviour.
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Kaldor–Hicks efficiency
A Kaldor–Hicks improvement, named for Nicholas Kaldor and John Hicks, is an economic re-allocation of resources among people that captures some of the intuitive appeal of a Pareto improvement, but has less stringent criteria and is hence applicable to more circumstances.
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Keynesian economics
Keynesian economics (sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy).
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Laissez-faire
Laissez-faire (from) is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs and subsidies.
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Limited government
In political philosophy, limited government is where the government is empowered by law from a starting point of having no power, or where governmental power is restricted by law, usually in a written constitution.
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Long run and short run
In microeconomics, the long run is the conceptual time period in which there are no fixed factors of production, so that there are no constraints preventing changing the output level by changing the capital stock or by entering or leaving an industry.
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Mainstream economics
Mainstream economics may be used to describe the body of knowledge, theories, and models of economics, as taught across universities, that are generally accepted by economists as a basis for discussion.
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Market (economics)
A market is one of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange.
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Market distortion
In neoclassical economics, a market distortion is any event in which a market reaches a market clearing price for an item that is substantially different from the price that a market would achieve while operating under conditions of perfect competition and state enforcement of legal contracts and the ownership of private property.
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Market economy
A market economy is an economic system in which the decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand.
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Market failure
In economics, market failure is a situation in which the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.
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Mathematical optimization
In mathematics, computer science and operations research, mathematical optimization or mathematical programming, alternatively spelled optimisation, is the selection of a best element (with regard to some criterion) from some set of available alternatives.
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Microeconomic reform
Microeconomic reform (or often just economic reform) comprises policies directed to achieve improvements in economic efficiency, either by eliminating or reducing distortions in individual sectors of the economy or by reforming economy-wide policies such as tax policy and competition policy with an emphasis on economic efficiency, rather than other goals such as equity or employment growth.
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Monetary policy
Monetary policy is the process by which the monetary authority of a country, typically the central bank or currency board, controls either the cost of very short-term borrowing or the monetary base, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.
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Neoclassical economics
Neoclassical economics is an approach to economics focusing on the determination of goods, outputs, and income distributions in markets through supply and demand.
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Neoliberalism
Neoliberalism or neo-liberalism refers primarily to the 20th-century resurgence of 19th-century ideas associated with laissez-faire economic liberalism.
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Ordoliberalism
Ordoliberalism is the German variant of social liberalism that emphasizes the need for the state to ensure that the free market produces results close to its theoretical potential.
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Pareto efficiency
Pareto efficiency or Pareto optimality is a state of allocation of resources from which it is impossible to reallocate so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off.
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Perfect competition
In economics, specifically general equilibrium theory, a perfect market is defined by several idealizing conditions, collectively called perfect competition.
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Production (economics)
Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output).
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Productive efficiency
Productive efficiency is a situation in which the economy could not produce any more of one good without sacrificing production of another good.
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Schools of economic thought
In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a common perspective on the way economies work.
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Social welfare function
In welfare economics, a social welfare function is a function that ranks social states (alternative complete descriptions of the society) as less desirable, more desirable, or indifferent for every possible pair of social states.
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Theory of the second best
In economics, the theory of the second best concerns the situation when one or more optimality conditions cannot be satisfied.
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Utility
Within economics the concept of utility is used to model worth or value, but its usage has evolved significantly over time.
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Welfare economics
Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level.
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X-inefficiency
X-inefficiency is the difference between efficient behavior of businesses assumed or implied by economic theory and their observed behavior in practice caused by a lack of competitive pressure.
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Redirects here:
Economic Efficiency, Economic inefficiency, Efficiency (economics).
References
[1] https://en.wikipedia.org/wiki/Economic_efficiency
