Definitions are obviously extremely important. Without clear and accurate definitions, your analysis can go horribly wrong. Students must remember that Economics is a Social Science and therefore precision is needed. We cannot get away with layman associations with common terms like Demand and Supply. That will result in wonky analysis, wrong diagrams and conclusions. Hence, there is a great need to learn the economics definitions very well.
In addition, they are explicitly required for examination purposes. They are needed for both A Level and IB Economics Essays as well as Case Studies.
Check out the sample of our Economics Definitions for JC and IB Economics bank that all our economics students will benefit from.
Do check them out!
Our Students can access the Definitions bank: