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The benefit, utility, or advantage that individuals or society gain from a service, product, or policy. Often used in formal cost-benefit analyses.

A sovereign state that has a high quality of life, a developed economy, and advanced technological infrastructure. These nations are typically contrasted with developing countries in academic discussions.

A nation with a less developed industrial base and a low Human Development Index (HDI) relative to other countries.

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

International trade left to its natural course without tariffs, quotas, or other restrictions.

Added value. The extra value created by a company or individual through processing, branding, or services beyond the original cost of materials.

The act of collecting money, such as taxes, fees, or fines, by an authority or organization.

A numerical scale used to compare variables with one another or with a reference point, often in economics or science.

The increase in size, quantity, volume, or degree of something. It is more formal than 'fueru' and often used for abstract quantities like pressure or demand.

The supply of people in a particular country or area who are able and willing to work, in relation to the number of jobs available.