Economist, can you define the following? recurring?

Question

in the field of economics, what are the meaning of the words?

1.Lethal

2. Concoction

3.Elixir

4. Eficaccy

5. Protracted

6. Recurring

7. Reprieve

8. Prodded

9. Subsidy

10. Aqueducts

11. reservoirs

12. Adverse

13. Scrutiny

14. Arid

Answer 1

Most of these words are not economic terms, but often used by economic journalists to make their writings appear sophisticated and attractive.

1.Lethal : One that kills, destroys and lead to permanently harmful effect on the economy.

2. Concoction: Hypothetical example / illustration to prove a point, deliberately misleading theory that is made up and false.

3.Elixir: Some economic events or policy impulses that cause dying businesses or economic activities to revive and become vibrant.

4. Eficaccy: Something (a policy or a system 0r a method in economics) that is more effective, more efficient and more result-oriented in terms of the its performance in realisaing the economic goals/ objectives/ economic functioning.

5. Protracted: long duration/ dilatory games, negotiations, interactions for settlement of disputes, entering into agreements, reaching a concensus on policydecision or process of implementing decisuions.

6. Recurring: One that is repetive, occours again and and again, like priodic expenditure on raw materials for production as contrasted to occasional one-time fixed investment to set up production capacity: repeated external shocks or system fluctuations like trade cycles.

7. Reprieve: providing escape routes from starvation/ struggle through humanitarian assistance, getting a chance to survive.

8. Prodded: encouraged, helped pursuaded into a particular action/ decision

9. Subsidy: A monetary or physical grant given by Govt. for producing something that otherwise yields low profit or loss: monetary or physical grants to poor people so that can buy/ consume some essential goods of mimimum quantity.

10. Aqueducts: Artificial construction of channels/ mechanisms that leads flow of transactions, capital,  labor, materials from one location to another. These may be economic policies or govt. expenditure or incentive mechanisms that help foster economic development process in underdeveloped areas  by attracting capital and labor under specific authorisation or permissuion windows of the Govt.

11. reservoirs: Storage

12. Adverse: unfavorable, negative, undesirable effects or circumstances or events/ consequences from the economic point of view

13. Scrutiny: Examination, looking for correctness, evaluating validity

14. Arid: dry climate: enviorment not conducive to high productivity or higher production as agriculture in desert areas with little rainfall.