Définitions en anglais économique

Definitions

Opportunity cost : the next best alternative foregone when an economic decision is made ( decision in the past )

Free goods : goods which are unlimited in supply and has no opportunity costs. Has unlimited supply at market price zero ( EXEMPLE: air )

Economic good : good or service that is relatively scarce and has a price. Involves opportunity cost when it is consumed

Production Possibilities Curve (PPC) : shows the maximmum combiation of goods or services that can be produced by an economy in a given time period, if all the ressources in the economy are being used fully and effectively

OUTPUT

actual outpout : the production of goods amd services in an economy achieved in a given time period

potential output : the possible production that would be achieved in an economy if all available factors were employed

GROWTH

actual growth: occurs when previously unemployed factors of production are brought into use

potential growth : occurs when the quantity and/or quality of factors of production within an economy is increased

economic growth : the growth of real output in an economy over time

DEVELOPEMENT

economic development: a broad concept that involves improvement in standards of living, reduction in proverty improved health and improved education

...