Statistical Terms Glossary

The money supply is the total amount of money in circulation in a country or group of countries in a monetary union. There are several ways in which this can be calculated: M1 is a measure of money supply including all coins and notes plus personal money in current accounts; M2 is M1 plus personal money in deposit accounts; M3 is M2 plus government and other deposits

The continuous oversight of an activity to assist in its supervision and to see that it proceeds according to plan. Monitoring involves the specification of methods to measure activity, use of resources, and response to services against agreed criteria.

Monitoring refers to the continuous or frequent standardized measurement and observation of the environment (air, water, land/soil, biota), often used for warning and control

Activities undertaken by the fishery enforcement system to ensure compliance with fishery regulations.

Monoculture refers to the repeated cultivation of a single crop on a given area of land

The agricultural practice of cultivating a single crop over a whole farm or area.; Cultivation of a single crop on the same land, year after year [...].

Monopolisation refers to attempts by a dominant firm or group of relatively large firms to maintain or increase market control through various anti-competitive practices such as predatory pricing, pre-emption of facilities, and foreclosure of competition.

Monopolistic competition describes an industry structure combining elements of both monopoly and perfect competition. As in perfect competition, there are many sellers and entry and exit is relatively easy. However, unlike the situation in perfect competition, products are somewhat differentiated. As a consequence, each firm faces a downward sloping demand curve which gives it some power over price. In this sense the firm is like a monopolist, although the demand curve is more elastic than that of the monopolist In essence, although the product is differentiated, it does have substitutes so that the demand curve facing the firm will depend on the prices charged by rivals producing similar products.

Monopoly is a situation where there is a single seller in the market. In conventional economic analysis, the monopoly case is taken as the polar opposite of perfect competition. By definition, the demand curve facing the monopolist is the industry demand curve which is downward sloping. Thus, the monopolist has significant power over the price it charges, i.e. is a price setter rather than a price taker.

See Market power

See Rent

A monopsony consists of a market with a single buyer. When there are only a few buyers, the market is defined as an oligopsony. In general, when buyers have some influence over the price of their inputs they are said to have monopsony power.

The property whereby if any current period price increases or any base period price decreases the price index increases.

The property whereby if any current period quantity increases or any base period quantity decreases the implicit quantity index that corresponds to the price index increases.

Are defined as the ratios of purchasing power parities (PPPs) for private final consumption expenditure to exchange rates.

Number of days at work during the month, excluding week-ends, holidays, sick and other paid or unpaid leaves. One hour of work in a given day is considered as one work-day.

Is defined as the shortest span of months for which the I/C ratio is less than unity. I and C are the average month-to-month changes without regard to sign of the irregular and trend-cycle component of the series, respectively.

Two- or three-wheeled road vehicle which is fitted with an engine having a cylinder capacity of less than 50cc (3.05 cu.in) and a maximum authorized design speed in accordance with national regulations.

The possibility of loss being caused by or aggravated by dishonesty or carelessness. It arises from the character and circumstances of the insured rather than the inherent nature of what is insured. It has become an increasingly important factor in risk insurance in modern financial markets.

Interest charged on rescheduled debt. In the Paris Club, moratorium interest rates are negotiated bilaterally between the debtor and creditor countries and thus can differ among creditors. In the London Club, where all creditors are deemed to have access to funds at comparable rates, the moratorium interest rate applies equally to all rescheduled obligations under an agreement.