Economics and Commerce are the two dominant subjects of modern learning. These are, by no means, easy subjects to master. However, an increasing number of people wish to acquire a working knowledge of economic and commercial terms for use in their daily life. This encyclopaedia is designed to provide a useful, reliable and readable guide to the fast expanding field of economics and commerce. It contains a careful selection of key terms and concepts in economics and commerce which are considered important for a cross-section of readers including teachers and students of economics, commerce, law and management. This valuable reference work will also be useful for bankers, corporate executives, legislators and government officials. Entries on more technical terms are brief. However, topics of general interest have been explained in the form of essays rather than mere definitions.