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  2. Real prices and ideal prices - Wikipedia

    en.wikipedia.org/wiki/Real_prices_and_ideal_prices

    Real prices and ideal prices. The distinction between real prices and ideal prices is a distinction between actual prices paid for products, services, assets and labour (the net amount of money that actually changes hands), and computed prices which are not actually charged or paid in market trade, although they may facilitate trade. [ 1]

  3. Glossary of economics - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_economics

    An economic theory that defines wealth by the amount of precious metals owned. [56] business cycle. Also called the economic cycle or trade cycle. The downward and upward movement of gross domestic product (GDP) around its long-term growth trend. [57] The length of a business cycle is the period of time containing a single boom and contraction ...

  4. Economics terminology that differs from common usage

    en.wikipedia.org/wiki/Economics_terminology_that...

    The economics term cost, also known as economic cost or opportunity cost, refers to the potential gain that is lost by foregoing one opportunity in order to take advantage of another. The lost potential gain is the cost of the opportunity that is accepted. Sometimes this cost is explicit: for example, if a firm pays $100 for a machine, its cost ...

  5. Real and nominal value - Wikipedia

    en.wikipedia.org/wiki/Real_and_nominal_value

    e. In economics, nominal value refers to value measured in terms of absolute money amounts, whereas real value is considered and measured against the actual goods or services for which it can be exchanged at a given time. Real value takes into account inflation and the value of an asset in relation to its purchasing power.

  6. Opportunity cost - Wikipedia

    en.wikipedia.org/wiki/Opportunity_cost

    Opportunity cost, as such, is an economic concept in economic theory which is used to maximise value through better decision-making. In accounting, collecting, processing, and reporting information on activities and events that occur within an organization is referred to as the accounting cycle.

  7. Market (economics) - Wikipedia

    en.wikipedia.org/wiki/Market_(economics)

    e. In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money.

  8. Real gross domestic product - Wikipedia

    en.wikipedia.org/wiki/Real_gross_domestic_product

    Real gross domestic product ( real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e. inflation or deflation ). [ 1] This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output. Although GDP is total output, it is primarily useful because it closely ...

  9. Sales at stores are suddenly surging in the US economy’s ...

    www.aol.com/sales-stores-suddenly-surging-us...

    It is the economy’s latest show of strength in the face of several economic hurdles squeezing the US consumer. The Dow closed 555 points, or 1.4% higher, as investors cheered the retail sales ...