A buyer's market is an economic situation where the supply of goods or assets exceeds demand, giving buyers an upper hand in negotiations over sellers. This term is widely used in the real estate sector to describe conditions where property buyers have an abundance of choices and leverage to negotiate lower prices.
An input-output table is a document that details how the output of one industry is utilized by other industries within an economy. This table serves as a model for analyzing local economic operations and predicting aggregate economic activity based on future economic assumptions. Input-output tables offer a static snapshot of the economy at a given point in time.
Interest sensitive policies are a newer generation of life insurance policies that are credited with interest currently being earned by insurance companies on these policies, ensuring that policyholders can potentially benefit from favorable economic conditions.
Lifetime security refers to a form of employee job security that guarantees protection against layoffs during economic slowdowns or plant closings.
The short run is a period of time long enough for existing firms in an industry to increase production in reaction to changing economic conditions, but not long enough to allow them to increase capacity or for new firms to enter the industry.
People who are not fully employed according to their education, abilities, and experience. Underemployed individuals are not utilizing their full capabilities and talents, which often leads to frustration and disappointment.
