- Industry: Education
- Number of terms: 31274
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A standard measure of industry concentration, defined as the sum of the squares of the market shares (in percentages) of the firms in the industry.
Industry:Economy
A preference, by consumers or other demanders, for products produced in their own country compared to otherwise identical imports. This was proposed by Trefler (1995) as a possible explanation for the mystery of the missing trade.
Industry:Economy
1. Having the property that all constituent elements are the same, as a homogeneous good. Contrasts with heterogeneous. 2. Possessing a certain form of uniformity, as a homogeneous function.
Industry:Economy
A function with the property that multiplying all arguments by a constant changes the value of the function by a monotonic function of that constant: ''F''(''V'')=''g''()''F''(''V''), where ''F''(•) is the homogeneous function, ''V'' is a vector of arguments, >0 is any constant, and ''g''(•) is some strictly increasing positive function. Special cases include homogeneous of degree ''N'' and linearly homogeneous.
Industry:Economy
A function of two or more arguments is homothetic if all ratios of its first partial derivatives depend only on the ratios of the arguments, not their levels. For competitive consumers or producers optimizing subject to homothetic utility or production functions, this means that ratios of goods demanded depend only on relative prices, not on income or scale.
Industry:Economy
A procedure for dealing with NTBs that has been proposed by the EU as part of the Doha Round negotiations, solving problems between member countries by using an expert panel to advise parties and seek mutually agreed but non-binding solutions.
Industry:Economy
A pattern of economic integration in which one country (the "hub") forms preferential trading arrangements with two or more other countries (the "spokes") that do not form such arrangements with each other.
Industry:Economy
1. The stock of knowledge and skill, embodied in an individual as a result of education, training, and experience, that makes him or her more productive. 2. The stock of knowledge and skill embodied in the population of an economy.
Industry:Economy
1. The failure of an economic variable to return to its initial equilibrium after a temporary shock. For example, an industry or trade flow might disappear due to an exchange rate change, then not reappear after the change is reversed. 2. A time lag between a cause and an effect. (Though this seems to be the more standard dictionary definition, economists seem to prefer definition 1. )
Industry:Economy
