Course glossary

Printer-friendly version

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.



Browse the glossary using this index

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | ALL

S

Sales Tax

A tax imposed as a proportion of consumer spending on specified goods or services. Also known as a “value-added” tax.

Saving

The portion of income which is not spent on consumption. Saving can be undertaken by individuals and households, by businesses, or by governments.

Services

A form of output which consists of a function performed for one person by another – such as cooking and serving a meal, teaching a lecture, completing a telephone call, or delivering a package. Distinct from goods.

Shares

Financial assets which represent the ownership of a small proportion of the total equity (or net wealth) of a corporation. Shares can be bought and sold on a stock market.

Stock Market

A place where shares of joint stock corporations are bought and sold. Most modern stock markets no longer have a physical presence, but rather consist of connected computer networks.

Surplus

Any agent or sector in the economy (household, business, or government) experiences a surplus when its income exceeds its expenditure.