Macroeconomics Archives - Page 2 of 7

Macroeconomics

Public Goods Definition

Public Goods Definition

A public good is a good whereby no individual can be excluded from benefiting from it. In other words, everyone can benefit from its use.

SWOT Analysis Definition

SWOT Analysis Definition

SWOT Analysis is a strategic management tool to help individuals and businesses identify their Strengths, Weaknesses, Opportunities, and Threats. These help identify the viability of a new project, business venture, or the existing competitive environment.

PESTLE Analysis Definition

PESTLE Analysis Definition and Template

PESTLE analysis is a strategic management tool that businesses use to identify macro-economic factors that it needs to consider. The word ‘PESTLE’ stands for the six factors – Political, Economic, Social, Technological, Legal, and Environmental. Together, they form the basis for identifying key issues that may impact the strategic direction of the company.

Keynesian Economics Definition

Keynesian Economics Definition

Keynesian economics is a school of thought that originated from economist John Maynard Keynes in the late 1930s. Its basic premise is that government intervention should be used to stabilize the economy.

Protectionism Definition

Protectionism Definition

Protectionism is whereby nations aim to prevent or restrict the supply of goods coming into the country. In other words, it employs various tools to prevent international competition competing with local businesses.

Capital Markets Definition

Capital Markets Definition

Capital markets are where savers come to invest their capital in long term investments such as corporate debt, equity-backed securities, and government bonds.

Price Elasticity of Demand Definition

Price Elasticity of Demand Definition

Price Elasticity of Demand (PED) measures how customers change their behaviour when prices change. In other words, it refers to the relationship between price and demand, and how demand reacts when prices change.

Absolute Advantage Definition

Absolute Advantage Definition

Absolute advantage is where a nation is more efficient at making a product than another. In other words, it requires fewer resources to make a final good or service.