Q
| Term | Definition |
|---|---|
| Quantitative Easing (QE) | A monetary policy tool used by central banks to stimulate the economy by purchasing financial assets, typically government securities, to increase the money supply and lower interest rates. |
| Quantity Demanded | The amount of a good or service that a consumer is able and willing to purchase at a given price based on their income and preferences. |
| Quantity Supplied | The amount of a good or service that a supplier is able and willing to produce at a given market price. |
| Quantity Theory of Money | The theory that the overall level of prices in the economy is proportional to the quantity of money circulating in the economy. |
| Quartile | Part of the “ile” family that signposts positions on a scale of numbers (see also percentile). The top quartile on, say, the distribution of income, is the richest 25% of the population. |
| Queueing | Usually a queue reflects a price that is set too low, so that demand exceeds supply, so some customers have to wait to buy the product. But a queue may also be the result of deliberate rationing by a producer, perhaps to attract attention. |
| Quota | A form of protectionism. A country imposes limits on the number of goods that can be imported from another country. |
| Quality of Life | A measure of the overall well-being and satisfaction of individuals in a society, taking into account factors such as income, education, healthcare, and environmental conditions. |
| Quantity Supplied | The amount of a good or service that producers are willing to sell at a given price and during a specific period. It is typically represented as a point on a supply curve in graphical analysis. |
| Quasi-Public Goods | Goods and services that exhibit characteristics of both public and private goods. While they are non-excludable, they may have some rivalry in consumption. |
| Quasi-Rent | A temporary surplus of revenue over variable costs for a factor of production that is not easily transferable to other uses. Quasi-rent can arise in the short run when the supply of a factor is relatively fixed. |
| Quality-Adjusted Life Year (QALY) | A measure used in health economics to assess the value of medical interventions by considering both the quantity and quality of life gained. |
| Quick Ratio (Acid-Test Ratio) | A financial ratio that measures a company’s ability to cover its short-term liabilities with its most liquid assets, excluding inventory. It is calculated as (Current Assets – Inventory) / Current Liabilities. |
| Quintile | A division of a population or sample into five equal parts, often used in income distribution analysis. Each quintile represents 20% of the population or sample. |
| Quasi-Money | Assets that are highly liquid and can be quickly converted into cash but are not considered legal tender. Examples include savings accounts, time deposits, and money market funds. |
| Quantity Theory of Inflation | A theory that suggests a direct relationship between the growth rate of the money supply and the inflation rate in an economy. |
| Quiet Revolution | A term used to describe a period of significant social and economic changes, often associated with technological advancements and shifts in societal norms. |
| Quantity Demanded | The amount of a good or service that consumers are willing to purchase at a given price and during a specific period. It is typically represented as a point on a demand curve in graphical analysis. |
| Quadratic Cost Function | A cost function that includes both fixed and variable costs, with the variable costs proportional to the square of the quantity produced. |