(consumer good)
51Giffen Good — A consumer good for which demand rises when the price increases, and demand falls when the price decreases. This phenomenon is notable because it violates the law of demand, whereby demand should increase as price falls and decrease as price… …
52Capital good — In Marxian economics, capital goods originally referred to the means of production. [Karl Marx, Das Kapital] Individuals, organizations and governments use capital goods in the production of other goods or commodities. Capital goods include… …
53Inferior good — Good Y is a normal good since the amount purchased increases from Y1 to Y2 as the budget constraint shifts from BC1 to the higher income BC2. Good X is an inferior good since the amount bought decreases from X1 to X2 as income increases. In… …
54Giffen good — In economics (consumer theory), a Giffen good is that which people consume more of as price rises, violating the law of demand. In normal situations, as the price of such a good rises, the substitution effect causes people to purchase less of it… …
55United States Consumer Price Index — The U.S. Consumer Price Index is a time series measure of the price level of consumer goods and services. The Bureau of Labor Statistics, which started the statistic in 1919, publishes the CPI on a monthly basis. The CPI is calculated by… …
56Dodd–Frank Wall Street Reform and Consumer Protection Act — Full title An Act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end too big to fail , to protect the American taxpayer by ending bailouts, to protect consumers… …
57Merit good — The concept of a merit good introduced in economics by Richard Musgrave (1957, 1959) is a commodity which is judged that an individual or society should have on the basis of some concept of need, rather than ability and willingness to pay. The… …
58Bankruptcy Abuse Prevention and Consumer Protection Act (US) — Bankruptcy Abuse Prevention and Consumer Protection Act Full title An Act to amend title 11 of the United States Code, and for other purposes. Acronym BAPCPA Colloquial name(s) Bankruptcy Reform Enacted by the …
59Composite good — In economics, demand for a good is often the focus as to a change in its price. A composite good is an abstraction used in economics that represents all goods in the relevant budget besides the one in question.[1] Purpose Consumer demand theory… …
60Unfair Terms in Consumer Contracts Regulations 1999 — The Unfair Terms in Consumer Contracts Regulations 1999, SI 1999/2083, incorporatesEnacted persuant to European Communities Act 1972] Directive 93/13/EC [(1993) L95 OJ 29] into law of the United Kingdom. Repeals The Unfair Terms in Consumer… …
