Archives: Terms

Definition of New Economy The term “New Economy” refers to the modern economic system characterized by the use of information technology, globalization, and a shift towards a knowledge-based economy. It emerged in the late 20th century and is marked by rapid technological advancements, increased connectivity, and the rise of digital […]

Definition of New Deal The New Deal refers to a series of programs, policies, and reforms implemented by President Franklin D. Roosevelt in the United States in response to the Great Depression of the 1930s. The New Deal aimed to provide relief, recovery, and reform to address the economic crisis […]

Definition of Neutrality of Money The neutrality of money refers to the concept that changes in the money supply do not affect real variables in the long run. In other words, changes in the quantity of money do not impact the overall level of output, employment, or real economic activity. […]

Definition of Network Effect The network effect refers to the phenomenon where the value of a product or service increases as more people use it. In other words, the more users or participants a network has, the more valuable it becomes to each individual user. This effect is often seen […]

Definition of Net Neutrality Net neutrality is the principle that all internet traffic should be treated equally, without discrimination or preference given to certain types of content or services. This means that internet service providers (ISPs) should not be able to block, slow down, or prioritize certain websites, applications, or […]

Definition of Net National Product (NNP) Net National Product (NNP) is an economic measurement that represents the total value of final goods and services produced by a country’s residents, both domestically and overseas, in a given period of time. It is calculated by subtracting depreciation from Gross National Product (GNP). […]

Definition of Net Importer The term “Net Importer” refers to a country or region that imports more goods and services than it exports. In other words, its total value of imports exceeds its total value of exports, resulting in a trade deficit. Example Let’s consider the fictional country of XYZ. […]

Definition of Net Foreign Factor Income (NFFI) Net Foreign Factor Income (NFFI) is a measure used in national income accounting to calculate the difference between the income earned by domestic factors of production in foreign countries and the income earned by foreign factors of production within the domestic country. It […]

Definition of Net Export Net export, also known as the trade balance, is the difference between a country’s exports and imports of goods and services. It represents the value of a country’s total exports minus its total imports over a given period, usually a year. Net export is an important […]

Definition of Net Domestic Product (NDP) Net Domestic Product (NDP) is a macroeconomic measure that represents the value of all final goods and services produced within a country during a specific period, minus depreciation. It is calculated by subtracting the depreciation of capital goods from the Gross Domestic Product (GDP). […]