- Industry: Education
- Number of terms: 31274
- Number of blossaries: 0
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A good that has been transformed in some way by a production activity, in contrast to a raw material.
Industry:Economy
A mode of supply of a traded service in which the producer establishes a presence in the buyer's country by FDI and/or permanent relocation of workers.
Industry:Economy
A function that specifies the output in an industry for all combinations of inputs.
Industry:Economy
A table reporting various combinations of outputs that are possible for an economy, given its technology and factor endowments. Thus the data on which the production possibility frontier is based.
Industry:Economy
A provision in an international trade agreement that would link trade liberalization and labor standards. A social clause has been discussed but not adopted in the WTO. The implementation of GSP by both the EU and the US does include a social clause.
Industry:Economy
A function mapping allocations of goods to the individuals in an economy to a level of welfare for the economy as a whole. If it depends only on the levels of utility of the individuals rather than separately on the allocations, then it is a Bergsonian social welfare function.
Industry:Economy
A currency that is not widely accepted in exchange for other currencies, in contrast to a hard currency.
Industry:Economy
A pegged exchange rate without a strong commitment by the central bank to allow the money supply to vary as necessary to maintain it. A soft peg is particularly subject to speculative attack, and therefore is unlikely to be sustainable.
Industry:Economy
Ability of a borrower to make required payments on debt. For a person or firm, lack of solvency, or insolvency, usually leads to bankruptcy. For a government, no facility for bankruptcy exists, so insolvency leads either to default and consequent loss of the ability to borrow, or to bailout by another government or international financial institution.
Industry:Economy
