Archives: Terms

Definition of Retaliation Retaliation in the field of economics and international trade refers to actions taken by one country or group in response to trade barriers or unfair trade practices imposed by another country or group. These actions are usually meant to penalize the parties responsible for the initial trade […]

Definition of Retained Earnings Retained earnings refer to the portion of net income that a company retains rather than distributing to its shareholders as dividends. These earnings are accumulated over time and can be reinvested into the company for various purposes, such as expanding operations, paying off debt, or funding […]

Definition of Retail Price Index The Retail Price Index (RPI) is a measure of inflation that reflects the changes in the cost of a fixed basket of goods and services purchased by a typical household. The RPI includes various categories such as housing costs, food, transportation, and entertainment. It is […]

Definition of Retail Banking Retail banking, also known as consumer banking, refers to the provision of services by a bank directly to individual consumers, rather than to corporations or other banks. Services offered under retail banking include savings and checking accounts, mortgages, personal loans, debit and credit cards, and a […]

Definition of Restrictive Practices Court The Restrictive Practices Court was a specialized judicial body in the United Kingdom established to oversee and adjudicate matters related to trade restrictions and anti-competitive practices. Its primary role was to ensure that businesses operated within the bounds of fair competition and did not engage […]

Definition of Restrictive Practices Restrictive practices, also known as restrictive trade practices, refer to actions taken by businesses or organizations that limit competition and control market conditions. These practices can include a range of strategies that are intended to consolidate market power, maintain high prices, or limit the entry of […]

Definition of Restricted Least Squares Estimator Restricted Least Squares Estimator (RLS) is a statistical technique used in the context of linear regression models, where the estimator is calculated subject to one or more linear restrictions being applied to the parameters. These restrictions are conditions or constraints imposed on the coefficients […]

Definition of Restraint of Trade Restraint of trade refers to any activity, agreement, or condition that prevents another party from conducting business as they normally would, or competitively entering into a market or commercial enterprise. Such actions are typically intended to limit competition and maintain or establish dominance within a […]

Definition of Marginal Utility Marginal utility refers to the additional satisfaction or benefit that a consumer receives from consuming one more unit of a good or service. It is a fundamental concept in economics that helps explain consumer behavior and the law of demand. Marginal utility often decreases with each […]

Definition of Scarcity Scarcity is one of the fundamental concepts in economics, describing the limited nature of resources in contrast to the unlimited wants of individuals and societies. Essentially, it means that there are not enough resources available to satisfy all the wants and needs of people fully. This principle […]