Budgetary policy To buyers' market (Economics)

budgetary policy The principles underlying the revenue and expenditure accounts of a governmental or other organization. The accounts used in a budget will reflect the responsibilities of that organization and its relationships with others, e.g. a state budget will show its financial relationship with the federal government of that country. in those accounts will be […]

Cashless society To Chenery, Hollis Burnley, 1918 (Economics)

cashless society A modern economy which uses credit cards and direct debiting of bank accounts to make payments, instead of notes and coins. cash limit A method of controlling government spending in the UK which replaced a constant-prices system. From 1974 to 1976, cash limits were used for several public sector building programmes and from […]

Cheque To collective bargaining (Economics)

cheque A written instruction for transferring a bank deposit from one person to another. In the nineteenth century, the cheque gradually replaced banknotes and bills of exchange as a means of settling claims. Today, cheque cards have made the cheque even more acceptable. The usage of the cheque for monetary transactions varies from country to […]

Collective good To Competition Commission (Economics)

collective good A PUBLIC GOOD allocated by political decisions,not by the market. collectivization of agriculture The reorganization of a country’s agricultureinto state farms thereby depriving peasants of landownership and management. Collectivization in the USSR wasintroduced in 1929 but was not implemented in a major and systematic way until the 1930s: it was accompanied by much […]

continuous double auction To countervailing duty (Economics)

continuous double auction Bids are submitted by both buyers and sellers, then ranked from highest to lowest and a trade is effected when there is a match. A dutch auction is a continuous descending auction. continuous variable A variable, expressed in symbolic form, e.g. x or y, which can assume any value between two given […]

competition policy To continuity thesis (Economics)

competition policy The set of statutory measures of a country, or of the european community, which attempt to control dominant monopolies, RESTRICTIVE PRACTICES and ANTI-COMPETITIVE practices, to monitor mergers and to protect consumers. In the UK, this policy was gradually developed from 1948. The Monopolies and Restrictive practices (inquiry and Control) Act 1948 permitted the […]

countervailing power To cyclical variations (Economics)

countervailing power The power of an opposing group, e.g. of a trade union facing a large firm, or of a consumer facing a monopolist or oligopolist. The best examples of it occur under BILATERAL MONOPOLY. GALBRAITH regarded such power as a means of stabilizing and making fairer the capitalist system. country fund A fund of […]

D To demography (Economics)

D A security of questionable value according to the rating agency Standard & Poor. daisy-chain scheme A commercial scheme for passing a commodity through a chain of company subsidiaries to avoid taxation. Dalton improving tax reform An income transfer from a household of high social rank to a lower ranking household that does not change […]

Demometrics To disequilibrium economics (Economics)

Demometrics The measurement of the relationship between socioeconomic variables and demographic variables, e.g. between income levels and interregional migration. denationalized money Money issued by a variety of private and foreign banks and not by a national government. This money is less likely to be debased. This diminution of the role of the state enables banks […]

Disequilibrium growth theory To dystopia (Economics)

disequilibrium growth theory A dynamic theory with keynesian foundations accounting for the course of change of a national economy. This growth process can be initiated by disequilibrium in a factor or product market or through the non-equality of aggregate demand and aggregate supply. disequilibrium money The mismatch between the demand for and supply of money […]