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Key terms relating to the economy:
Below is a list of economic and fashion terms that you will see appear throughout this website and their definitions:
Economic indicator:
"A piece of economic data, usually of the macroeconomic scale, that is used by analysts to interpret current or future investment possibilities. These indicators also help judge the overall health of the economy." (Barone, n.d.).
Recession:
"A period, usually at least 6 months, of low economic activity, when investments lose value, businesses fail, and unemployment rises." (Cambridge University Press, n.d.-a).
Stockmarket closing price:
"Generally refers to the last price at which a stock trades during a regular trading session" (Closing price, n.d.).
Spurious correlation:
"A connection between two variables that appears to be casual but is not. With a spurious correlation, any observed dependencies between variables are mainly due to change or are both related to some unseen cofounder." (Kenton, n.d.-a).
(economic) Output:
"The number of goods and services produced in a country by the private and public sectors within a time." (Woerner, n.d.).
Overheated economy:
"An overheated economy is when the economy grows too fast. An overheated economy reaches the limits of how much output it can produce to meet the demand from consumers and businesses, as there are very little unused resources." (Zanzalari, n.d.).
General price level:
"The average of the current price of goods and services produced in the economy." (Kenton, n.d.-b).
Inflation:
"The rate at which the price for goods and services rise."(Fernando, n.d.-a).
Stockbroker:
"A person or company that buys and sells stocks and shares for other people."(Kenton, n.d.-c).
Dow Jones Industrial Average:
"Price-weighted index that tracks 30 large, publicly owned companies trading on the New York Stock exchange and the Nasdaq." (Ganti, n.d.).
(investing/carried on) Margin:
"When an investor buys an asset by borrowing the balance from a bank or broker." (Chen, n.d.-a).
Holding(s):
"The contents of an investment portfolio held by an individual or entity." (Chen, n.d.-b)
Deflation:
"General decline in prices for goods and services." (The Investopedia Team, n.d.).
GNP (gross national product):
"Total value of all finished goods and services produced by a country's citizens in a given financial year, irrespective of their location." ("What is gross national product", n.d.)
Real GNP:
"The gross national product adjusted to account for inflation." (Worth, n.d.).
Depression:
"A depression is characterized as a dramatic downturn in economic activity in conjunction with a sharp fall in growth." (Liberto, 2021).
GDP (gross domestic product):
"The total monetary or market value of all the finished goods and services produced within a country's border within a specific time period" (Fernando, n.d.-b).
Real GDP:
"An inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year." ("What real gross domestic product is", n.d.).
Per capita:
"Term used in economic and statistical analysis that means per person." (Banton, n.d.).
Economic downturn:
"General slowdown in economic activity over a sustained period of time." (Surviving an economic downturn, 2021).
Liquidate:
"To sell your investments or property to make them available in the form available of money." (Cambridge University Press, n.d.-b)
Depositors:
"A person who keeps money at a bank." (Cambridge University Press, n.d.-c)
Stock certificate:
"A physical piece of paper that represents a shareholder's ownership in a company."(Kenton, n.d.-d).
Federal Reserve system:
"Refers to the central bank system of the U.S.... regulates the U.S. monetary and financial system."(Chen, n.d.-c).
Gold Standard:
"A system under which nearly all countries fixed the value of their currency in terms of a specified amount of gold, or linked their currency to that of a country they did so." ("The classical Gold Standard, n.d.").
Interest rates:
"The amount you are charged for borrowing money, shown as a percentage of the total amount of the loan." ("What are interest rates?", n.d.).
Bull market:
"The conditions of a financial market in which prices are rising or are expected to rise." (Hayes, n.d.).
Bear market:
"When a market experiences prolonged price declines" (Chen, n.d-d).
Deficit:
"When expenses exceed revenues." (Tardi, 2020).
Disposable income:
"The amount of money that an individual or household has to spend or save after income taxes have been deducted" (Kenton, n.d.-e).
Key terms relating to fashion:
Coco Channel:
"French fashion designer who ruled Parisian haute couture for almost six decades. Her elegantly casual designs inspired women of fashion to abandon the complicated, uncomfortable clothes—such as petticoats and corsets—that were prevalent in 19th-century dress." (The Editors of Encyclopedia Britannica, n.d.).
Jean Lanvin:
French Fashion designer known for her feminine robe de style during the 1920s. ("Lanvin robe de style", n.d.)
Christian Dior:
"French fashion designer whose creations dominated world fashion in the decade following World War II." (The Editors of Encyclopedia Brittanica, 2022).
Mary Quant:
"Mary Quant was the most iconic fashion designer of the 1960s. A design and retail pioneer, she popularised super-high hemlines and other irreverent looks that were critical to the development of the 'Swinging Sixties' scene." ("Introducing Mary Quant", n.d.).