Economic policy
Economic Policy
Economic policy (pronunciation: /ˌiːkəˈnɒmɪk ˈpɒlɪsi/) refers to the actions that governments take in the economic field. It covers the systems for setting levels of taxation, government budgets, the money supply and interest rates as well as the labor market, national ownership, and many other areas of government interventions into the economy.
Etymology
The term "economic policy" comes from the Greek word "oikonomia" which means "management of a household" and the Latin word "politicus" which means "of, for, or relating to citizens".
Related Terms
- Fiscal Policy: This refers to the use of government revenue collection (taxation) and expenditure (spending) to influence a country's economy.
- Monetary Policy: This is the policy adopted by the monetary authority of a country that controls either the interest rate payable on very short-term borrowing or the money supply.
- Trade Policy: This is a government's policy controlling foreign trade and the central objective is to ensure the nation's international trade runs more smoothly by setting clear standards and goals which can be understood by potential trading partners.
- Supply-side Policy: These are government attempts to increase productivity and shift aggregate supply (AS) to the right.
- Demand-side Policy: These are government policies designed to increase demand for goods and services, boost economic activity and stimulate economic growth.
See Also
External links
- Medical encyclopedia article on Economic policy
- Wikipedia's article - Economic policy
This WikiMD dictionary article is a stub. You can help make it a full article.
Languages: - East Asian
中文,
日本,
한국어,
South Asian
हिन्दी,
Urdu,
বাংলা,
తెలుగు,
தமிழ்,
ಕನ್ನಡ,
Southeast Asian
Indonesian,
Vietnamese,
Thai,
မြန်မာဘာသာ,
European
español,
Deutsch,
français,
русский,
português do Brasil,
Italian,
polski