Answerabout economic acrostic using word population
Positional goods -Products that confer status and are thus both limited in supply and carry premium prices. Examples include properties in highly residential areas, fancy sports cars and upmarket hotels. The existence of positional goods helps explain why rising living standards have not been accompanied by a substantial reduction in working hours; people work hard so they can feel a cut above the rest. For more, see this article.
Opportunity cost-The cost of something may not just be its price but the alternative; what was given up to get it. So the opportunity cost of spending the afternoon at a bar is the wages you might have earned had you stayed at work. Money spent on a fancy meal could have been spent on a training course to enhance your skills.
Poverty-Measures of poverty can be absolute or relative. In the former case, individuals or households have insufficient income to afford the basics of life: food, shelter, heat, clothing.
Unemployment-Being out of work when you want a job. After the Great Depression, many countries adopted policies to try to keep unemployment down and also offered income support to those who were out of a job. See also frictional unemployment, structural unemployment, involuntary unemployment and Nairu. For more on the different types of unemployment, read this Explainer.
Limited liability-One of the most important concepts in modern capitalism. Limited liability means that investors who own the equity of a company can only lose their initial stake if the business collapses; creditors cannot pursue their other assets, such as their homes. By limiting liabilities in this way, more entrepreneurs are willing to take the risk of setting up businesses, and more investors are willing to back them.
Active management-A branch of investment management that attempts to outperform other investors by selecting a limited number of assets, and trading them regularly. See also passive management.
Savings-Income that, instead of being consumed, is set aside for future use
Yield-The income from a security, expressed as a proportion of its market price
Offshore haven-A jurisdiction which imposes little or no tax on transactions or profits and thus is chosen by financial and multinational companies as a hub for some of their activities
Nationalisation-The takeover by the state of private businesses. Under communism, all large businesses are state-owned and the previous private owners are rarely compensated
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Answer about economic acrostic using word population
Positional goods -Products that confer status and are thus both limited in supply and carry premium prices. Examples include properties in highly residential areas, fancy sports cars and upmarket hotels. The existence of positional goods helps explain why rising living standards have not been accompanied by a substantial reduction in working hours; people work hard so they can feel a cut above the rest. For more, see this article.
Opportunity cost-The cost of something may not just be its price but the alternative; what was given up to get it. So the opportunity cost of spending the afternoon at a bar is the wages you might have earned had you stayed at work. Money spent on a fancy meal could have been spent on a training course to enhance your skills.
Poverty-Measures of poverty can be absolute or relative. In the former case, individuals or households have insufficient income to afford the basics of life: food, shelter, heat, clothing.
Unemployment-Being out of work when you want a job. After the Great Depression, many countries adopted policies to try to keep unemployment down and also offered income support to those who were out of a job. See also frictional unemployment, structural unemployment, involuntary unemployment and Nairu. For more on the different types of unemployment, read this Explainer.
Limited liability-One of the most important concepts in modern capitalism. Limited liability means that investors who own the equity of a company can only lose their initial stake if the business collapses; creditors cannot pursue their other assets, such as their homes. By limiting liabilities in this way, more entrepreneurs are willing to take the risk of setting up businesses, and more investors are willing to back them.
Active management-A branch of investment management that attempts to outperform other investors by selecting a limited number of assets, and trading them regularly. See also passive management.
Savings-Income that, instead of being consumed, is set aside for future use
Yield-The income from a security, expressed as a proportion of its market price
Offshore haven-A jurisdiction which imposes little or no tax on transactions or profits and thus is chosen by financial and multinational companies as a hub for some of their activities
Nationalisation-The takeover by the state of private businesses. Under communism, all large businesses are state-owned and the previous private owners are rarely compensated
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