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Economics

Boycewire was founded with the goal of becoming the number one resource in economics and
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Latest Definitions

Adjusted gross income
Adjusted Gross Income
Adjusted gross income refers to an individual’s total income from all sources, minus specific deductions and exemptions, and serves as the starting point for calculating taxable income.
Chi Square Test
Chi Square Test
The chi-square test is a statistical test used to determine if there is a significant association between categorical variables in a population.
central limit theorem
Central Limit Theorem
The central limit theorem states that as the sample size increases, the sampling distribution of the sample mean approaches a normal distribution, regardless of the shape of the population distribution.
embezzlement
Embezzlement
Embezzlement is the act of fraudulently misappropriating or stealing funds or assets entrusted to one’s care, often done by an individual in a position of trust or authority.

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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.

Full Definition
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

Full Definition
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