By Nelson Brian
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Extra resources for A Comprehensive Dictionary of Economics
Dollar is the diminishing level of inter- I used by most' countries as the action or value of a variable, primary reserve asset, in conwith increasing distance, largely . trast to the gold standard m resulting from the effect ofvari- I which gold played this role. ous forms of distance-sensitive I • dollarisation transaction costs on demand or official adoption by a country cost patterns or functions. S. dollar as its local cur• distance elasticity of demand I rency. the relative response of effec- • Domar Aggregation tive demand to a change in the the principle where the growth distance (or transport costs) I rate of an aggregate is the which a consumer (or consumI weighted average of the growth ers) has (have) to overcome, in rates of its components, where order to purchase a good or ser- I each component is weighted by vice at a given price.
TdIKCftClmfCrWpne.... q,tot........ iDUI ...... o1qlfot. • economies of flexibility the advantages accruing to a producer with many plants of different sizes, in allocating increases or decreases in operations to that plant whose size is such as to handle the total output change of the producer most efficiently. • economies of scale if all the inputs in a production process are increased and the output increases proportionately, by more amount than the increase in the inputs, economies of scale are being realised.
De-skilling a decrease in the level and scope I of skills within a local/regional DFS Model labour market, resulting from mainly two corporate strate- lone of the continuum-of-goods gies: (1) mechanisation and models of Dornbusch, Fischer, computerisation of production and Samuelson (1977, 1980). and office activities (2) trunca- I • differentiated product tion of corporate acti vi ties I 1. a firm's product which is not within the region. I identical to the products of • destabilising speculation other firms in the same indusspeculation which increases the try.
A Comprehensive Dictionary of Economics by Nelson Brian