Tag: welfare
Deadweight Loss Of Taxation
DefinitionIn economics, the excess burden of taxation, also known as the deadweight cost or deadweight loss of taxation, is one of the economic losses...
Deadweight Loss
DefinitionA deadweight loss, also known as excess burden or allocative inefficiency, is a loss of economic efficiency that can occur when equilibrium for a...
Kenneth Arrow
DefinitionKenneth Joseph "Ken" Arrow was an American economist, mathematician, writer, and political theorist. He was the joint winner of the Nobel Memorial Prize in...
John R. Hicks
Who was John Hicks?
John Hicks was a British economist who was awarded the Nobel Prize in Economics in 1972. He is best known for...
Economic Efficiency
DefinitionEconomic efficiency is, roughly speaking, a situation in which nothing can be improved without something else being hurt. Depending on the context, it is...
What is ADR
ADR stands for American Depository receipt. It is issued by the United States depository bank and is a negotiable certificate which represents a certain...
Zakat
What is 'Zakat' A term used in Islamic finance to refer to the obligation that an individual has to donate a certain...