Glossary

Reset Glossary
legal tender

Subject: 

  • Economics

bank notes and coins declared by a government to be acceptable in the payment of all debts.

Related Content

financial markets
Subject:
Economics

institutions acting as intermediaries between suppliers and users of money.

purchasing power parity (PPP)
Subject:
Economics

the number of units of the currency of one country that gives the holder the same purchasing...

inflation
Subject:
Economics

a continuous rise in the prices of a wide range of products over an extended period of time. It...

market failure
Subject:
Economics

when firms do not produce the correct quantity to suit demand as they do not use the resources...

quintile
Subject:
Economics

a fifth (20%) of the population.