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Latest Definitions

Fascism vs Communism
Fascism vs Communism
Fascism emphasizes national unity and the supremacy of one race or ethnicity, while communism promotes equality and the abolition of class distinctions.
Examples of Socialism in America
Examples of Socialism in America
In America, examples of socialism include the New Deal programs, progressive taxation and social welfare policies, public education and healthcare systems, government investment in public infrastructure and services, and the influence of labor unions and workers’ rights movements.
Socialism vs Capitalism
Socialism vs Capitalism
Socialism is an economic system where the means of production are collectively owned and resources are allocated based on need, while capitalism is an economic system where private individuals and businesses own and operate the means of production for profit and resources are allocated based on market demand and supply.
Socialism vs Communism
Table of Contents Introduction Historical Background Fundamental Principles Economic Structures Political Systems Real-World Examples Criticisms and Challenges Conclusion FAQs Socialism vs Communism Written by Paul Boyce Posted in Microeconomics > Economic Systems Last Updated May 3, 2023 Introduction Socialism and Communism are often used interchangeably to describe economic systems that challenge the principles of capitalism.


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Daily Definition

Social Capital /səʊʃəl kæpɪtl/

Social capital refers to the links and bonds people form through friendships and acquaintances. These links can form through friendship groups, i.e. knowing a friend of a friend. Or, they can occur through daily social interactions.

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Budget Deficit /‘bʌdʒɪt ‘dɛfɪsɪt/

A budget deficit occurs when the government spends more than it receives through taxation. For example, if it receives $2 trillion in tax receipts, but spends $2.5 trillion on public services – it has a budget deficit of $500 billion

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Net Present Value /nɛt ‘prɛznt ‘væljuː/

Net Present Value (NPV) is the total value of future revenues, subtracted against any cash outflows during the same period. In other words, it calculates future streams of income and brings it in line to its present value. At the same time, it also factors in outflows.

Full Definition