Benefit and cost analysis
Identify, measure and compare the costs and benefits associated with a particular project or intervention to determine its net worth.

Current account
The UK's trade in goods and services with the rest of the world is described in detail, as well as current transfers and income flows to and from the UK from cross-border investments.

Current Price (CP) series
These series include the effects of inflation.

Deficit
Occurs when outgoing financial flows exceed incoming financial flows. A "state budget deficit" occurs when expenditures exceed the value of tax revenues and asset sales for a certain period.

Deflation
A decrease in the overall price level in the economy, as evidenced by the annual inflation rate below 0% (negative).

Deflator (implied)
A series that shows price changes and can be used to convert nominal values into "real" values that are adjusted for the impact of inflation. An implied deflator is a series that shows the implied change in average prices for a variable by dividing a series of current prices by real or volume series.

Depreciation
A drop in the value of an asset or currency compared to another asset or currency.

Direct taxation
Taxes on income, profit and property paid directly by the taxpayer to the tax authorities.

Net income
Family income after deduction of taxes and accrual of benefits.

Dividends
Payment to the company's shareholders from current or previously retained earnings.

E - Economy
The study of the allocation of limited resources to meet individual and collective needs.


Market Failure
Cases when the market result provides a suboptimal or inefficient allocation of resources. These include situations of incomplete information, barriers to entry, or a natural monopoly.

Microeconomics
A section of economics that studies individual economic agents and units: individuals, households, firms and industries.

Mixed income
The balancing item of income falls on non-corporate enterprises owned by households. The owner or members of the same family often provide unpaid labor to the business. Thus, the surplus is a mixture of remuneration for such work and profit to the owner as an entrepreneur.

Monetary policy
A policy that affects the supply or value of money (interest rate).

Money supply
The amount of money available in the economy.

Multi-factor productivity (MFP)
The difference between the rate of change of output and the rate of change of total costs. It is calculated as the remainder, which can be considered as a reflection of technological progress, including the impact of changes in management methods and business processes or more efficient use of production factors.

Multiplication effect
A measure of how one economic action affects other economic activities. For example, the fiscal multiplier is the amount by which GDP increases for each additional pound of spending. For example, government spending on a new hospital may also benefit businesses that supply the hospital and local retail stores for staff.


N - National accounts
An integrated description of all economic activity on the economic territory of the United Kingdom, including activities involving both internal units (i.e. individuals and organizations residing in the UK) and external units (residents of other countries).

National debt
Accumulated effect of the budget deficit (minus the surplus): the total amount of outstanding public debt.

National income
Everything that is produced, earned and spent in the country. The net national product of the economy minus depreciation from GNP in basic prices.

Natural unemployment rate
The lowest unemployment rate at which labor markets can be in stable equilibrium. Catering to players of all skill levels, 7Slots Casino features classic and innovative slots with various themes, stake sizes, and special features like free spins, multipliers, and bonus rounds.

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