Tag: increase

What is a 'Sale' A sale is a transaction between two parties where the buyer receives goods (tangible or intangible), services and/or...

Inflation is well defined as a sustained increase in the general level of prices for goods and services wherein the purchasing power falls. It...

DefinitionIn economics, diminishing returns is the decrease in the marginal output of a production process as the amount of a single factor of production...

Definition Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of...

What is 'Above Full-Employment Equilibrium' A macroeconomic term used to describe the real gross domestic product (GDP) is currently in excess of...

DefinitionIn economics, Okun's law is an empirically observed relationship between unemployment and losses in a country's production. The "gap version" states that for every...

What is 'Oil Initially In Place - OIIP' The amount of crude first estimated to be in a reservoir. Oil initially in...

What is the 'Variable Cost Ratio' The variable cost ratio is an expression of a company's variable production costs as a percentage...

What is 'Land Value' Land value is the value of a piece of property, including both the value of the land itself...

DefinitionIn microeconomics, the law of demand states that, "conditional on all else being equal, as the price of a good increases, quantity demanded decreases...