Glossary

Reset Glossary
externality

Subject: 

  • Economics

the impact or spill-over effect that results from an economic activity for the people not actually involved in the transaction.

Related Content

Basic Conditions of Employment Act
Subject:
Economics

law that lays down the conditions of work of employees.

price inelastic supply
Subject:
Economics

the supply decreases very little in relation to a large change in price.

purchasing power parity (PPP)
Subject:
Economics

the number of units of the currency of one country that gives the holder the same purchasing...

Millennium Development Goals (MDG)
Subject:
Economics

eight development goals that committed the world leaders to making huge strides to reduce...

primary industry
Subject:
Economics

farming; mining; fishing and forestry.