Consumer price indexA consumer price index (CPI) is a price index, the price of a weighted average market basket of consumer goods and services purchased by households. Changes in measured CPI track changes in prices over time. The CPI is calculated by using a representative basket of goods and services. The basket is updated periodically to reflect changes in consumer spending habits. The prices of the goods and services in the basket are collected monthly from a sample of retail and service establishments.
Nordic Passport UnionThe Nordic Passport Union allows citizens of the Nordic countries - Iceland, Denmark, Norway, Sweden, and Finland - to travel and reside in another Nordic country without any travel documentation (e.g. a passport or national identity card) or a residence permit. Since 25 March 2001, all five states are also in the Schengen Area. For citizens of any Nordic country, no identity documentation is legally required to enter or reside within any other Nordic country.
Nordic modelThe Nordic model comprises the economic and social policies as well as typical cultural practices common in the Nordic countries (Denmark, Finland, Iceland, Norway, and Sweden). This includes a comprehensive welfare state and multi-level collective bargaining based on the economic foundations of social corporatism, and a commitment to private ownership within a market-based mixed economy — with Norway being a partial exception due to a large number of state-owned enterprises and state ownership in publicly listed firms.
Price levelThe general price level is a hypothetical measure of overall prices for some set of goods and services (the consumer basket), in an economy or monetary union during a given interval (generally one day), normalized relative to some base set. Typically, the general price level is approximated with a daily price index, normally the Daily CPI. The general price level can change more than once per day during hyperinflation.
MonopolyA monopoly (from Greek mónos and pōleîn), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a specific person or enterprise is the only supplier of a particular thing. This contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market.
JutlandJutland (Jylland ˈjyˌlænˀ; Jütland ˈjyːtlant; Ēota land ˈeːotɑˌlɑnd), known anciently as the Cimbric or Cimbrian Peninsula (Cimbricus Chersonesus; den Kimbriske Halvø or den Jyske Halvø; Kimbrische Halbinsel), is a peninsula of Northern Europe that forms the continental portion of Denmark and part of northern Germany. The names are derived from the Jutes and the Cimbri, respectively. Jutland's geography is flat, similar to the rest of Denmark, with comparatively steep hills in the east and a barely noticeable ridge running through the center.
Foundations of Economic AnalysisFoundations of Economic Analysis is a book by Paul A. Samuelson published in 1947 (Enlarged ed., 1983) by Harvard University Press. It is based on Samuelson's 1941 doctoral dissertation at Harvard University. The book sought to demonstrate a common mathematical structure underlying multiple branches of economics from two basic principles: maximizing behavior of agents (such as of utility by consumers and profits by firms) and stability of equilibrium as to economic systems (such as markets or economies).
