Glossary of IB Economics Terms
IB HL and SL Economics Glossary
There are currently 8 names in this directory beginning with the letter S.
Supply refers to the quantities of a product that suppliers are willing and able to sell at various prices per period of time, ceteris paribus
Savings is income that is not spent, present consumption foregone, a withdrawal from the circular flow of income or money stored in financial institutions.
Subsidies are a sum of money the government gives to an industry in order reduce cost of production or reduce the price of a good.
structural unemployment is long term unemployment caused as a result of a fall in the demand for a particular type of labor occurring as a result of the changing structure of an economy due to changes in the demand/supply and/or technology. It occurs when there is a mismatch between the skills of unemployed workers and the jobs available or as a result of rigidities in the labor market
Supply-side policies they are policies designed to shift the AS curve to the right. They may include tax cuts, reductions in welfare payments, promotion of training etc.