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6 terms

Official trade

Trade that has been registered or accounted for. It is often measured as well.

Oligopoly

A market with only a few sellers or controlled by only a few sellers.

Oligopsony

A market with only a few buyers or controlled by only a few buyers.

Oscillation

In meteorology, oscillation is a shift in the position of high and low-pressure systems, usually in the same place. These are often described using an index (frequently a single number that represents the distribution of temperature and pressure over a wide area, usually over the oceans, such as the El Niño-Southern Oscillation, North Atlantic Oscillation, or Pacific Decadal Oscillation).

Outcome analysis

An analysis of how access to food and cash for each wealth group will be affected by a defined hazard, and of the extent to which other food or cash sources can be added or expanded, or non-essential expenditure reduced, to make up the initial shortages.

Own price elasticity

Percentage change in quantity demanded of a commodity related to the percentage change in the price of that commodity.