Course glossary
During lectures you will learn new words. Using this link you are welcome to add them to our "course glossary", so that other students will be able to see them and learn. Let's make our own useful glossary and help each other to learn new words! By the way, there are already some worlds which should be familiar for you till the end of the course, try to cover them when you mill have free time.
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Factors of ProductionThe basic productive resources (labor, capital, and natural resources) that are essential inputs to every economic activity. | |
Fiscal PolicyThe spending and taxing activities of government constitute its fiscal policy. | |
Fixed CapitalReal capital which is installed permanently in a specific location, including buildings, infrastructure, and major machinery and equipment. | |
Foreign Direct InvestmentAn investment by a company based in one country, in an actual operating business, including real physical capital assets (like buildings, machinery and equipment), located in another country. | |
Foreign ExchangeThe process by which the currency of one nation is converted into the currency of another country. | |
Free Trade AgreementsAn agreement between two or more countries which eliminates tariffs on trade between the countries, reduces non-tariff barriers to trade, cements rights and protections for investors and corporations, and takes other measures to guarantee a generally liberalized, pro-business economic environment. | |
Full EmploymentA condition in which every willing worker is able to find a paying job within a very short period of time, and hence unemployment is near zero. | |