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#	NEW WORD	VP	EXAMPLE	WORD CLASS	DEFINITION	DATE/TIME ENTERED
1	economy_of_scale	?	large firms like monopoly can reduce their production cost through economy_of_scale	N	Reduction in cost per unit resulting from increased production, realized through operational efficiencies.	2015.03.12 01:47
2	monopoly	4	The firms like Sinopec, PingAn Insurance, Citic are monopoly	N	A situation in which a single company owns all or nearly all of the market for a given type of product or service. -	2015.03.12 01:32
3	soft_landing	?	Governor Zhou guarantees that China will have a soft_landing at the end of this year	N	The avoidance of both inflation and high interest rates as well as a recession as an economy slows its growth rate. - -	2015.03.12 00:59
4	recession	3	The company fired 500 workers during the recession between 2008 and 2011 period.	N	A period of general economic decline; typically defined as a decline in GDP for two or more consecutive quarters. - -	2015.03.12 00:57
5	inferior	5	instant noodles is inferior good because when our income increases, we will buy ramen instead.	N	A good the demand for which falls as income rises.	2015.03.12 00:50
6	monetary_policy	?	Governor Zhou said on tuesday that the central bank will take a cautious monetary_policy this year to control inflation.	N	The regulation of the money supply and interest rates by a central bank.	2015.03.12 00:40
7	equilibrium	5	The equilibrium price of this function is 50,50	N	The point where demand meets suppy	2015.03.12 00:37
8	dividend	4	The dividend of Bank of China this year is only 8%	N	The payment declared by the company to its shareholders	2015.03.12 00:31
9	tax_burden	1	On the graph, tax_burden is usually a rectangle next to the dead weight loss	N	The amount of income, property, or sales tax levied on an individual or business.	2015.03.12 00:28
10	opportunity_cost	2	the loss of potential gain from other alternatives when one alternative is chosen is called opportunity_cost	N	the opportunity_cost of a choice is the value of the best alternative forgone, in a situation in which a choice needs to be made between se	2015.03.12 00:24
11	market_demand	?	take the derivative of market_demand with respect to price	N	It is simply the sum of individual quantities demanded at any given price	2015.03.12 00:14
12	pareto_efficiency	?	The competitive equilibrium is pareto_efficiency	N	There is no way to make one party better off without making the other worse off	2015.03.12 00:04
13	isoquant	3	Another way to describe the technological constraints facing a firm is - through the use of isoquants	N	An isoquant is the set of all possible - combinations of inputs 1 and 2 that are just sufficient to produce a given - amount of output.	2015.03.11 23:59

NEW
WORD

EXAMPLE

WORD
CLASS

DEFINITION

DATE/TIME
ENTERED

economy_of_scale

large firms like monopoly can reduce their production cost through economy_of_scale

Reduction in cost per unit resulting from increased production, realized through operational efficiencies.

2015.03.12 01:47

monopoly

The firms like Sinopec, PingAn Insurance, Citic are monopoly

A situation in which a single company owns all or nearly all of the market for a given type of product or service. -

2015.03.12 01:32

soft_landing

Governor Zhou guarantees that China will have a soft_landing at the end of this year

The avoidance of both inflation and high interest rates as well as a recession as an economy slows its growth rate. - -

2015.03.12 00:59

recession

The company fired 500 workers during the recession between 2008 and 2011 period.

A period of general economic decline; typically defined as a decline in GDP for two or more consecutive quarters. - -

2015.03.12 00:57

inferior

instant noodles is inferior good because when our income increases, we will buy ramen instead.

A good the demand for which falls as income rises.

2015.03.12 00:50

monetary_policy

Governor Zhou said on tuesday that the central bank will take a cautious monetary_policy this year to control inflation.

The regulation of the money supply and interest rates by a central bank.

2015.03.12 00:40

equilibrium

The equilibrium price of this function is 50,50

The point where demand meets suppy

2015.03.12 00:37

dividend

The dividend of Bank of China this year is only 8%

The payment declared by the company to its shareholders

2015.03.12 00:31

tax_burden

On the graph, tax_burden is usually a rectangle next to the dead weight loss

The amount of income, property, or sales tax levied on an individual or business.

2015.03.12 00:28

opportunity_cost

the loss of potential gain from other alternatives when one alternative is chosen is called opportunity_cost

the opportunity_cost of a choice is the value of the best alternative forgone, in a situation in which a choice needs to be made between se

2015.03.12 00:24

market_demand

take the derivative of market_demand with respect to price

It is simply the sum of individual quantities demanded at any given price

2015.03.12 00:14

pareto_efficiency

The competitive equilibrium is pareto_efficiency

There is no way to make one party better off without making the other worse off

2015.03.12 00:04

isoquant

Another way to describe the technological constraints facing a firm is - through the use of isoquants

An isoquant is the set of all possible - combinations of inputs 1 and 2 that are just sufficient to produce a given - amount of output.

2015.03.11 23:59