Archives: Terms

Definition of Human Development Index (HDI) The Human Development Index (HDI) is a statistic that measures the overall development of a country. It takes into account three dimensions of human development: health, education, and income. The HDI is based on indicators such as life expectancy at birth, years of schooling, […]

Definition of Housing Unit A housing unit is a separate and independent living area that is intended for occupancy by a household. It can be a single-family house, an apartment, a mobile home, or any other space that provides the basic amenities for living, such as sleeping quarters, bathroom facilities, […]

Definition of Housing Starts Housing starts refer to the number of new residential construction projects that have begun in a certain period. It is a key indicator of the health and growth of the housing market, as well as the overall economy. Housing starts can include the construction of single-family […]

Definition of Household Income Household income refers to the total amount of money earned by all members of a household from various sources over a specific period of time. It includes income from employment, self-employment, investments, government assistance, and other sources. Household income is an important indicator of the financial […]

Definition of Hotelling’s Theory Hotelling’s Theory, also known as Hotelling’s Law, is an economic theory that explains how firms in a competitive market choose their locations and prices. The theory is based on the assumption that firms aim to maximize their profits by strategically positioning themselves in a way that […]

Definition of Hot Waitress Economic Index The Hot Waitress Economic Index is an unconventional economic indicator that suggests a relationship between the attractiveness of waitresses in popular restaurants and the state of the economy. It proposes that during economic downturns or recessions, establishments tend to hire more attractive waitresses as […]

Definition of Homo Economicus Homo Economicus is an economic theory that presents individuals as rational and self-interested decision-makers. According to this theory, individuals are assumed to always act in a way that maximizes their own utility or well-being, taking into consideration the available information, constraints, and costs associated with different […]

Definition of Home Market Effect The Home Market Effect is an economic theory that suggests that a country is likely to have a comparative advantage in industries that produce goods for which its domestic market is large. This means that countries with bigger domestic markets tend to have a higher […]

Definition of Hollowing Out Hollowing out refers to the process of a decline or deterioration in the strength, vitality, or quality of a particular sector, industry, or region. This term is often used to describe the negative effects of globalization, automation, or outsourcing on a specific area or group of […]

Definition of Hoarding Hoarding refers to the act of accumulating and storing excessive amounts of goods or resources beyond what is necessary or reasonable. It is often characterized by an irrational fear of scarcity or a desire for control over possessions. Hoarding can involve various types of items, such as […]