Glossary

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Imports - noms from other countries (ex. "biscuits" in the UK and parts of Canada)
Indifference - when you equally desire two different baskets of noms
Inferior Goods - noms you nom less as you earn more money
Inflation - when your noms get more expensive over time due to increases in the money supply
 - by Pritesh Patel, Carnegie Mellon University
Interest Rate - put your noms in the freezer to save them for later and they grow (unless the inflation rate is higher than your interest rate)

Help us expand our vocabulary! If you have a good defi-nom-tion of an econ word, please email words@economnomnomics.com or reply to this post below. Include your word and definition and also your name and/or institution or webiste that you would like credited.

A made-up example submission:
Trust – if you believe someone who promises you noms will deliver on their promise
by John Hsu, University of Maryland

1 Response to Glossary

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