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  KEY TERMS
 

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Imperfect competition
Any market or industry in a competition which doesn't comply with the rules of Perfect Competition

Indifference curve
A graph which is used to analyze the choice of products by consumers who are indifferent in their preference towards the products

Induced consumption
Household consumption that is dependent on disposable income. An increase in income would lead to increase in the consumption as well.

Inferior good
A type of good, whose consumtion decreases in case of increase in the income level.

Inflation
A continued increase in the average level of prices in an economy.

Insider trading
The trading of securities on the basis of information that is not available to the common public

International Monetary Fund
A specialized agency established in the year 1945, setup to monitor and stabilize the foreign exchange markets.




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