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You are browsing all terms beginning with "E"
68 terms were found.
Displaying Page 7 (of 7)
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- Exchange
- The voluntary transfer of rights to use goods.
- Exchange Rate
- The price of one currency in terms of another.
- Exchange Value
- The purchasing power of a unit of currency for goods and services in the marketplace.
- Exclusion Principle
- The owner of a private good may exclude others from use unless they pay.
- Existence Value
- Value from knowing environmental goods exist independent of use or option value. If we lose a species in the wild, such as the Bengal tiger, very few of us will have our welfare directly affected by not being able to see it, photograph it or hear it. That "use value" is very small. But many people will lose the option to do that in the future, should they care to. Economists call that "option value." Further, many people around the world derive some benefit just from knowing that Bengal tigers exist in the wild. That is "existence value."
- Exponential growth
- Growth in which some quantity, such as population size, increases by a constant percentage of the whole during each year or other time period; when the increase in quantity over time is plotted, this type of growth yields a curve shaped like the letter J.
- Externalities
- A situation in which an individual or firm takes an action but does not bear all the costs (negative externality) or receive all the benefits(positive externality).
- Extrusive
- Igneous. Antonym of intrusive.
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