Glossary of IB Economics Terms
IB HL and SL Economics Glossary
There are currently 10 names in this directory beginning with the letter D.
Demand refers to the quantities of a product that consumers are willing and able to buy at various prices in a given time period, ceteris paribus.
Dumping is the selling of a good in another country at either a price below its cost of production or a price below the price charge in its home market.
Deflation is a sustained decrease in the average level of prices (general price level) in an economy
Demerit good is a good considered to be harmful to people that would be over-provided by the market and so over-consumed or a good whose consumption creates negative externalities, or a good whose consumption creates costs for third parties, not involved in the purchase or sale of the product.
Depreciation is a fall in the value of one currency against another currency in a floating exchange rate system.
Devaluation is a reduction in the value of a currency, conducted by the central bank, in a fixed exchange rate system.
Developing countries are characterized by low per capita income, high rates of poverty, a low standard of living and a low HDI ranking/value
Disinflation refers to a decrease in the rate of increase of the Average Price Level OR a decrease in the rate of inflation.