DefinitionThe law of supply is a fundamental principle of economic theory which states that, keeping other factors constant, an increase in price results in...
DefinitionLaissez-faire is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs and subsidies. The...
DefinitionNationalization is the process of transforming private assets into public assets by bringing them under the public ownership of a national government or state....
Banks use lagged reserves to manage their liquidity and protect themselves from risks associated with deposit outflows. Lagged reserves are a critical tool for...
DefinitionIn economics, economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences...