Economy

Letter - D

Deflation: A generalized fall in prices. Deflation can happen due to crises, or due to a generalized increase in purchasing power.

Desinflation: When there is inflation, or rising prices, but this growth is decreasing, so each year inflation increases less.

Letter - F

Fiat: A legal tender, which is a currency declared legal by the government, and its value is backed by the issuer (the government).

Letter - H

Hard Money: A type of currency that is made up of or directly backed by a valuable commodity such as gold or silver.

Letter - I

Inflation: A general increase in the prices of a sector, good or group of goods. Generally inflation is linked to the creation of money.

Letter - Q

Quantitive Easing: Creation of money or "IOUs" (bank reserves) that is used to buy assets.

Letter - S

Scarcity: Limit on the quantity that is produced of a certain good or service.