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11 relations: Abba P. Lerner, Absolute value, Alfred Marshall, Balance of trade, Currency, Devaluation, Elasticity (economics), Export, Import, Price elasticity of demand, Relative price.
Abba P. Lerner
Abraham (Abba) Ptachya Lerner (also Abba Psachia Lerner; 28 October 1903 – 27 October 1982) was a Russian-born British economist.
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Absolute value
In mathematics, the absolute value or modulus of a real number is the non-negative value of without regard to its sign.
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Alfred Marshall
Alfred Marshall, FBA (26 July 1842 – 13 July 1924) was one of the most influential economists of his time.
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Balance of trade
The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain period.
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Currency
A currency (from curraunt, "in circulation", from currens, -entis), in the most specific use of the word, refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.
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Devaluation
In modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency or currency basket.
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Elasticity (economics)
In economics, elasticity is the measurement of how an economic variable responds to a change in another.
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Export
The term export means sending of goods or services produced in one country to another country.
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Import
An import is a good brought into a jurisdiction, especially across a national border, from an external source.
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Price elasticity of demand
Price elasticity of demand (PED or Ed) is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price when nothing but the price changes.
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Relative price
A relative price is the price of a commodity such as a good or service in terms of another; i.e., the ratio of two prices.
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