Economics Glossary: W -, Learning Economics... Solved!


Economics Glossary: W

Wages – Income paid for the services provided from labor.

Wealth, net worth – A stock measure of the total value of what a household owns minus what it owes.

Weight – The importance attached to an item or observation within a group of items or observations.

Working-age population – The total number of people aged 16 years and over who are not in jail, the hospital, or for some other reason unable to work.

World Bank – An international agency that lends money to individual countries for projects that promote economic growth and development.

World Trade Organization (WTO)  -- An organization that deals with the negotiates the rules of trade across nations.