Ceteris Paribus: Definition, Pros, Cons & Examples
Ceteris Paribus is a phrase used in economics that makes economic analysis simpler.
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Macroeconomics
The branch of economics that looks at the economy as a whole. It looks at factors which affect the wider economy rather than individuals. Examples include inflation, trade, unemployment, and economic growth.
Mixed Economy: Definition, Pros, Cons & Examples
A mixed economy is an economic system that combines elements of a capitalist, market-based system, with a socialist, command economy system. It mixes elements such as private property rights, free trade, and privatization, with socialist elements such as regulation, the welfare state, and re-distribution.
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Deflation: Definition, Causes & Effects
Deflation can be caused from a number of factors. However, it should be noted that these factors alone may not necessarily cause deflation.
Neoliberalism: Definition, Pros, Cons & Characteristics
Neoliberalism refers to the resurgence of free market ideas that characterized classical liberalism in the 19th century.
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Capital Flight: Definition, Causes, Effects & Examples
Capital flight occurs when investors or businesses remove their money from a country.
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Absolute Poverty: Definition, Examples & Causes
Absolute poverty is where an individual is unable to meet their immediate needs.
GNP: Definition, Formula, How to Calculate & Example
Gross National Product (GNP) refers to the total value of goods and services where the means of production is owned by domestic residents.
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Purchasing Power Parity: Definition, Examples & Types
Purchasing Power Parity is a measurement that economists use to compare the spending power between two or more nations.
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Expansionary Fiscal Policy: Definition, Examples & Effects
Expansionary fiscal policy refers to a policy that seeks to grow the economy through fiscal stimulus.
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