The utilization of economic theories and principles to address practical real-world problems and inform governmental policy-making.
Conservatism in accounting focuses on understating assets and revenues and overstating liabilities and expenses to provide a prudent and less risky portrayal of a company's financial position. In business, it refers to a cautious and careful attitude, typically avoiding excessive risk. In politics, conservatism promotes limited government spending and lower taxes.
A controlled economy is a type of economic system where the government exerts significant control over production, distribution, and consumption of goods and services, rather than relying on market forces. This model is often associated with socialist and communist economies.
A critical adjustment in the value of a country's currency, devaluation can help rectify issues of overvaluation, uncompetitive exports, or an adverse balance of trade, amid the backdrop of a fixed exchange rate system.
Unsold agricultural goods. The government will often purchase certain farm surplus products in order to maintain a profitable price level for the farmers. The storage and use of farm surplus products is a controversial political problem.
A fixed exchange rate is an exchange rate system where the value of a currency is pegged by the government to that of another currency, a basket of currencies, or a measure of value, such as gold. The government maintains this rate through economic policies and interventions in the foreign exchange market.
A level playing field is a concept wherein government policies are designed to reduce disparities between different sectors of the economy or between domestic and international competitors. The objective is to create a fair competitive environment where no particular group or entity has an undue advantage over others.
A Monetary Standard is the set of procedures or policies that a government uses to ensure the value and reliability of its currency, fostering faith among the public and international markets.
A moratorium provides critical financial relief in situations where debt repayment is hindered by economic or market crises, offering time for debtor recovery and maintaining market stability.
The official exchange rate of a country's currency as determined by that country's government.
A method for limiting the purchase or usage of an item when the quantity demanded exceeds the quantity available at a specific price. Common during crises, rationing ensures fair distribution of scarce resources.
A process usually undertaken by a government to increase the value of its currency in terms of gold or other currencies, typically to address a balance of payments surplus.
