IB HL and SL Economics Glossary

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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
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
Developing countries are characterized by low per capita income, high rates of poverty, a low standard of living and a low HDI ranking/value

Direct tax
Direct tax taxes (paid to the government) on
income (households and firms).

Disinflation refers to a decrease in the rate of increase of the Average Price Level OR a decrease in the rate of inflation.

Diversification is a strategy to increase the variety of goods and services produced in order to avoid (the risks associated with) overspecialization
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