what is economic obsolescence
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- 10 most extreme places on Earth. Economic obsolescence is a word used in property valuation or appraisal. The term signifies a situation where the value of a piece of property or real estate drops due to factors emanating from sources other than the property itself.
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Consolidation Debt ~ loan - a loan to pay off several outstanding loans presumably at a lower rate. This can be a wise move but it also is historically one of the targets of predatory lenders. mortgage loans. Collateral - something of value that is offered to secure the loan.
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What is 'Cyclical Unemployment' When economic output falls, as measured by the gross domestic product (GDP), the business cycle is low and cyclical unemployment will rise. Economists describe cyclical unemployment as the result of businesses not having enough demand for labor to employ all those who are looking for work. The lack of employer demand comes from a lack of spending and consumption in the overall economy.
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recession Economic recession is a period of general economic decline and is typically accompanied by a drop in the stock market, an increase in unemployment, and a decline in the housing market. Generally, a recession is less severe than a depression.
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- Economic recession is when the economy, as a whole, is actually shrinking (GDP shrinks, unemployment rises, as the demand for goods and services is lessened.) The opposite of … an economic recession, is economic growth.
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- deflation is an economic term used to describe a period of declining prices for goods and services decreases in the money supply government spending consumer demand and business investment
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What is 'Keynesian Economics' Subsequently, the term “Keynesian economics” was used to refer to the concept that optimal economic performance could be achieved – and economic slumps prevented – by influencing aggregate demand through activist stabilization and economic intervention policies by the government.
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Business Economic Cycle, Recession, Depression Definitions and Meaning Explained Business cycle phases and stock market cycle phases, including recession, depression, trough, recovery, expansion and peak. Economists sometimes define Recession as two consecutive quarters of decline in the GDP. And, they define Depression as a severe and sustained recession.
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Economic equilibrium In economics, economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.
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Business Economic Cycle, Recession, Depression Definitions and Meaning Explained The economic business cycle (first meaning above) can impact stages of the company business cycle (second meaning).Birth and Growth stages tend to accelerate during economic recovery and expansion, of course. Company Decline and Demise occur faster during economic recession and depression.
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What Is an Economic Depression? Definition: An economic depression is a severe downturn that lasts several years. Fortunately, the U.S. economy has not experienced an economic depression since The Great Depression of 1929, which lasted ten years. The decline in the GDP growth rates were of a magnitude not seen since: 1930 -8.6%. 1931 -6.5%.
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- DEFINITION of 'Economic Forecasting'. The process of attempting to predict the future condition of the economy. This involves the use of statistical models utilizing variables sometimes called indicators. Some of the most well-known economic indicators include inflation and interest rates, GDP growth/decline, retail sales and unemployment rates.
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Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer wanted even though it may still be in good working order. Obsolescence frequently occurs because a replacement has become available that has, in sum, more advantages compared to the disadvantages incurred by maintaining or repairing the original.
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DEFINITION of 'Economic Collapse ' An economic collapse is essentially a severe version of an economic depression, where an economy is in complete distress for months, years or possibly even decades. A total economic collapse is characterized by economic depression, civil unrest and highly increased poverty levels.
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- Aggregate Demand and Aggregate Supply. • Economic fluctuations , also called business cycles , are movements of GDP away from potential output. • Insufficient demand for goods and services was a key. problem of the Great Depression, identified by British. economist John Maynard Keynes in the 1930s.
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economic obsolescence Reduction in the desirability or economic life of an asset caused by factors such as regulatory changes, technological changes, and excess supply.
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obsolescence Definition of obsolescence. : the process of becoming obsolete or the condition of being nearly obsolete the gradual obsolescence of machinery reduced to obsolescence the planned obsolescence of automobiles.
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Economic Sustainability The wrong definition of economic sustainability. The world's nations presently define their top economic goal in terms of Gross Domestic Product (GDP). This is the total amount of production produced within a nation, usually within one year.
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Keynesian Economics Keynesian economics is a theory of total spending in the economy (called aggregate demand) and its effects on output and inflation. Although the term has been used (and abused) to describe many things over the years, six principal tenets seem central to Keynesianism. The first three describe how the economy works. 1.
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Keynesian economics The Classic view of Saving & Investment. The Keynesian view of Saving & Investment. Keynesian economics (or Keynesianism) is the view that in the short run, especially during recessions, economic output is strongly influenced by aggregate demand (total spending in the economy).The theories forming the basis of Keynesian economics were first presented by the British economist John Maynard Keynes.he Classic view of Saving & Investment. The Keynesian view of Saving & Investment. Keynesian economics (or Keynesianism) is the view that in the short run, especially during recessions, economic output is strongly influenced by aggregate demand (total spending in the economy).
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Functional Obsolescence in Real Estate To give you an idea of just how much the functional obsolescence affected this property, a typical home with the size and amenities of this property would be valued at around $800,000 in the town which it was located. It ended up selling for $530,000!! I would call that serious obsolescence.
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stagflation Popular Terms. Stagnation accompanied by inflation. It is an economic anomaly where high unemployment (due to economic stagnation) is accompanied by high inflation (instead of low inflation due to falling demand).
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deflation The term generally applies to more than just a temporary decline. Compare inflation. See also disinflation. Deflation, the opposite of inflation, is a gradual drop in the cost of goods and services, usually caused by a surplus of goods and a shortage of cash. Although deflation seems to increase your buying power in its early stages, it is generally considered a negative economic trend.
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Keynesian economics John M Keynes. The essential element of Keynesian economics is the idea the the macro economy can be in disequilibrium (recession) for a considerable time. Keynesian economics advocates government intervention to help overcome the lack of aggregate demand to reduce unemployment and increase growth.ohn M Keynes. The essential element of Keynesian economics is the idea the the macro economy can be in disequilibrium (recession) for a considerable time. Keynesian economics advocates government intervention to help overcome the lack of aggregate demand to reduce unemployment and increase growth.
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- obsolescence found in the property. It should be noted that this paper is not intended to go through the process of calculating the item of obsolescence, there are many excellent appraisal texts the appraiser can obtain that properly show the calculations necessary to properly deduct for any form of functional obsolescence.
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11 Causes of Economic Recession Economic recessions are caused by a loss of business and/or consumer confidence. As confidence recedes, so does demand. This is the tipping point in the business cycle where the peak, often accompanied by irrational exuberance, moves into contraction.