From Citizendium, the Citizens' Compendium
- See also changes related to Taxation, or pages that link to Taxation or to this page or whose text .
See the economics index for an index to topics referred to in the economics articles.
- Economics : The analysis of the production, distribution, and consumption of goods and services.
- Microeconomics : A branch of economics that deals with transactions between suppliers and consumers, acting individually or in groups.
- Politics : Activity that relates to the way in which society is governed, and the process by which human beings living in communities make decisions and establish obligatory values for its members.
- Fiscal policy : Policy concerning public expenditure, taxation and borrowing and the provision of public goods and services, and their effects upon social conduct, the distribution of wealth and the level of economic activity.
- National debt : The external obligations of the government and public sector agencies (otherwise known as national debt or government debt).
- Public expenditure : Spending by the public sector
- Economic rent : The difference between the payment received by a factor of production and the payment that would be necessary to keep that factor in use: a measure of that factor's market power.
- Income effect : The tendency of the demand for a product to change in response to a change in its price because the price change has the effect of changing the consumer's income.
- Marginal tax rate : The percentage increase in taxation that is due as a result of a small increase in income.
- Poverty trap : The situation in which an increase in earnings would be significantly reduced by a loss of those state benefits that are subject to a means test.
- Substitution effect : The tendency of consumers to switch spending to or from a product in response to a change in its price relative to that of a substitute.
- Unemployment trap : The situation in which the after-tax income from employment is less than the state benefits that are receivable when unemployed.