Economics: An A-Z Guide

The intelligent idiot's guide to Economics, from A to Z.

Economics is the study of how society uses its scarce resources or, more snappily, the science of choices that helps people make decisions about how to use scarce things such as land, labour, raw materials, capital, entrepreneurial spirit and time. An understanding of economics can therefore help people in politics and public service, in business and the professions, and even in their private life. This book is a clear and lively guide to the essentials of economics, with entries that stretch from A to Z and cover such topics, terms and jargon as: Animal spirits, Barter, Cannibalise, Dumping, Economic man, First-mover advantage, Gresham's Law, Hypothecation, Inequality, J-curve, Kleptocracy, Lump of labour fallacy, Money illusion, New economy, Opportunity cost, Positional goods, Queueing, Random walk, Satisficing, Tragedy of the commons, Utility, Value at risk, Winner-takes-all markets, X-efficiency, Yield gap and Zero-sum game.