J
| Term | Definition |
|---|---|
| Job Market | The environment where employers and job seekers interact, leading to the exchange of labor services for wages. Includes both the demand for and supply of labor. |
| Joint Venture | A business arrangement where two or more parties pool resources and share risks and rewards for a specific project or venture. |
| Junk Bond | A high-yield or non-investment grade bond with a lower credit rating, indicating a higher risk of default. Offers higher yields to compensate for increased risk. |
| Just-In-Time (JIT) Inventory System | An inventory management strategy where goods and materials are ordered just in time for production or sale, minimizing storage costs and excess inventory. |
| Jobber | An individual or firm specializing in buying and selling securities, commodities, or other financial instruments for short-term profits. |
| J-Curve Effect | In international trade, describes the short-term impact of a currency devaluation, where initially the trade balance may worsen before improving as the competitiveness of exports increases. |
| Jobless Recovery | An economic recovery characterized by growth without a corresponding reduction in unemployment. May indicate increased productivity or structural changes in the labor market. |
| JIT Manufacturing | Similar to Just-In-Time inventory, a production strategy where goods are produced only as needed, reducing waste and inventory costs. |
| Joint Product | Two or more products produced simultaneously from the same inputs or production process, often with complementary uses. |
| Jury Rigging | A temporary and makeshift solution or arrangement to address a problem or issue, often used in the context of economic or business challenges. |
| Job Rotation | A human resource management strategy where employees are moved through different roles or departments within a company to enhance their skills, knowledge, and overall versatility. |
| Job Sharing | An employment arrangement where two or more employees share the responsibilities and working hours of a single full-time position. |
| Joint Stock Company | A form of business organization where ownership is divided into shares, and shareholder liability is limited to the value of their shares. Allows for efficient pooling of capital. |
| Junket | A trip or excursion provided to individuals, often by a business or government entity, as a form of entertainment or reward. In economics, associated with perks or incentives. |
| Job Destruction | The reduction or elimination of jobs within an economy, industry, or company, often due to factors like technological advancements, automation, or changes in market demand. |
| JEL Classification Codes | Articles in economics journals are classified according to a system originated by the Journal of Economic Literature (JEL), published quarterly by the American Economic Association (AEA). Contains survey articles and information on published books and dissertations. |
| Job Hunting | The act of looking for employment due to unemployment, underemployment, discontent with a current position, or a desire for a better position. |
| Joint Product Pricing | The firm’s problem of choosing prices for joint products, produced from the same process or operation, each considered to be of value. More complex than pricing for a single product. |
| Joint Stock | A form of business where the company’s assets are divided among numerous individual owners, each owning a specified share. Governed by a weighted voting system based on the number of shares owned. |
| Just Price | A theory of ethics setting standards of fairness for economic transactions. |