Sunday, 19 May 2024, 1:17 AM
Site: E-Learning KIMEP
Course: Intermediate Macroeconomics ECN3082 L, Mussurov Altay (ECN3082 L, Mussurov Altay )
Glossary: Course glossary
L
Law of demandHolding all else equal, when the price of a good rises, consumers decrease their quantity demanded for that good. |
Law of increasing costsThe more of a good that is produced, the greater the opportunity cost of producing the next unit of that good. |
Liability of a bankAnything owned by depositors or lenders. |
LiquidityA measure of how easily an asset can be converted to cash. |