Terms & Definitions

It is the unemployment rate that keeps the labour market in the country at long-run equilibrium and therefore does not lead to an increase in inflation.

In game theory, it is the state reached as a result of each player choosing their best strategy according to their expectations about the strategies of the other players.

It is the general term for methods such as gross domestic product, gross national income, net national income, personal income and disposable personal income that are used to track total production and total income in the economy.

It is the market structure in which, due to increasing returns to scale, the lowest cost of production can be achieved with a single seller.

It is the theoretical expectation that the unemployment rate will return to the natural rate of unemployment over time, whatever the inflation rate is.

Or abbreviated as UN, the lowest unemployment rate resulting from the normal functioning of the labour market and sustainable in the long run.

Or land, abbreviated as N, the basic production factor describing land that can be cultivated or built on as well as every kind of resource that comes from the land and from nature.

They are securities that are a close substitute for money held for trading purposes.

It is the market structure in which a product with no close substitute is supplied to a very large extent by a single seller and in which there are barriers to market entry.

It is a market structure in which a product supplied by more than one seller is demanded to a very large extent by a single buyer and where barriers to the entry of other buyers exist.

They are products whose demand in the market does not change or rises less rapidly when the average income level rises.

It is the negative impact that an economic activity has on people who are not party to that activity.

Or recessionary gap, the situation in which real GDP in the short term is below potential GDP and the economy is therefore considered to be in a recession.

Because the balance of payments is an accounting system in which every transaction is recorded with two separate signs (a credit and a debit entry), it is essential that, while each transaction of the balance of payments is recorded under the item relating to its content, its counterpart entry takes place in another item. In other words, every transaction being recorded with equal-value credit and debit entries requires that the total of the 'Current Accounts' and the 'Capital Account' always equal the 'Financial Account' item. However, the obtaining of the data from different sources creates differences in valuation, measurement and recording time; the differences formed as a result are reflected as a 'residual' in the Net Errors and Omissions item. This item is obtained by subtracting the current account and the capital account from the financial account.

Or abbreviated as NX, the main expenditure heading showing the difference between the goods that domestic economic units export to the rest of the world and the goods they import from the rest of the world.

It is the difference between the income that domestic factors of production earn abroad and the income that foreign factors of production earn domestically.

Or abbreviated as NNP (NMH), the difference between all final goods and services produced by the nationals of a country in a given period and the capital consumed in the course of that production.

It is the value reached by discounting to present date the return an investment provides over the investment period at the market interest rate or its own interest rate.

It is the ratio of net profit to sales (Net profit / Sales) and the first component of DuPont; it shows how much net profit is left from every 1 lira of sales.

Refers to the amount found as a result of deducting sales discounts and returns and other rebates from an enterprise's gross sales. NUTS: The Classification of Territorial Units for Statistics (İBBS), developed since the 1970s by the Statistical Office of the European Communities (Eurostat) in order to ensure that regional statistics in the European Union are produced according to a single spatial classification

The ratio of the current steady funding amount to the required steady funding amount. The current steady funding amount fundamentally consists of capital, liabilities with an effective maturity of more than one year, and savings and SME deposits. Some other liabilities are included in steady funding after being multiplied by certain coefficients. The required steady funding amount is obtained by classifying assets, according to their liquidity, from the most liquid to the least liquid and multiplying them by certain coefficients.

It is the difference between the taxes paid by households and firms to the state and the transfer payments made by the state to households and firms.

It is the excess of short-term assets over short-term liabilities (Current Assets − Current Liabilities); it shows the liquidity buffer.

It is the offsetting of the receivables and payables arising from the transfer orders sent and received by a participant of a payment or securities settlement system against each other and their conversion into a single receivable or payable.

It is the fact that the value of a product increases as more people use it.

Network externality is the external benefit that each consumer joining a network provides for the other customers within the network. As the number of users increases, a certain product or service becomes more valuable in the user's eyes. This situation is also called a network externality.

; a good that is not dependent on income in market analysis and, in benefit analysis, does not provide benefits or harms to economic units.

It is the doctrine holding that the money supply determines only nominal magnitudes in the economy and will not affect real values.

It is the school of thought that argues changes in real income in the short run stem from unpredictable demand shocks and advocates that the state should not intervene in the economy.

It is the school of thought that seeks to ground Keynesian economic theory in microeconomic foundations and argues that the state should intervene in the economy through monetary and fiscal policy.

It refers to the average obtained using an appropriate weighting method of the foreign exchange rates selected for a specific purpose.

Or abbreviated as E, the relative value of one currency in terms of another currency.

Or GDP in current prices, the national income method that measures the value of goods and services produced in a given period at the prices of the same period.

It is the interest rate stated in the contract that is not adjusted for inflation; it does not show an increase in real purchasing power.

Or abbreviated as i, the percentage that borrowers pay to lenders without making an adjustment for the price changes arising from inflation.

; The phenomenon of sticky fees and prices observed in the short term due to various contracts, regulations, or other costs.

It is the value printed on an asset. For example, the nominal value of each domestic government bond (DIPS) issued by the Turkish Treasury and Finance Ministry is the 100 TL actually printed on it. Likewise, the nominal value of a 200 TL banknote is the 200 printed on it.

It is an index measuring the price changes in the consumer, intermediate and capital goods produced for export abroad as well as in the energy sector.

It is the percentage showing the share of the population seeking work outside agriculture in the non-agricultural labour force.

It includes corporate units consisting of independent legal entities and market producers whose core function is to produce non-financial services and products.

It is the basic decision-making principle stating that consumers will always prefer more of a good over less.

Or, as it is commonly known, abbreviated as NAIRU, the unemployment rate that keeps the labour market in the country at long-run equilibrium and therefore does not lead to an increase in inflation.

They are goods that are consumed in a single use or can be used for a short period of time.

They are the expenditures made by resident economic units for the purchase of machinery, factories, tools and equipment.

They are products whose demand in the market rises when the average income level rises.

It is an analytical resolution that examines the behaviour and systems of the employed from a subjective standpoint, focusing on their consequences and incorporating value judgements.

All publication rights of this document belong to the Directorate General for Development Agencies of the Ministry of Industry and Technology. Private sector investments hold an important place in the country's development. For investments contribute in many respects, such as raising national income, increasing production and employment, developing exports, raising the accumulation of technological knowledge and tax revenues, invigorating the economy and developing the markets

It is the submission of the necessary information to the Competition Authority in applications such as notification, merger or acquisition clearance, a negative clearance certificate or exemption.

( Occupancy Certificate) A document issued by the licensing authority showing that a completed construction is usable or partially usable, and certifying that the constructed structure was built as specified in the project.

The purpose of the programme supported by the Office on Drugs and Crime is to devise methods for collecting and analysing data so that countries can monitor the illegal cultivation and production of products that are precursors for narcotics.

It is a resolution stating that for every one percent increase in the unemployment rate, real GDP falls by about two percent.

It is a market structure in which firms with large market shares act interdependently in their price-output choices.

It is the interest rate applied to the transaction in which banks sell the securities they hold to the TCMB for one week and buy them back at maturity.

It is the administrative structure that ensures that the bureaucratic procedures of investors regarding their investments are concluded as quickly as possible through a single authority and that employs specialists.

The application within e-government in which taxpayers entered data for their customs-related transactions (imported machinery-equipment, inward processing, etc.) until 13.08.2018. TEKMER: the abbreviation of Technology Development Centers, whose establishment criteria and qualities are determined by KOSGEB, and which provide technology/innovation-oriented entrepreneurs in their initial periods (incubation) with business development, access to financial resources, management,

It refers to the ability to meet the needs of customers in different areas from a single point of service (for example hypermarkets).

In May 2010, the CBRT introduced the one-week repo rate as a new liquidity instrument.

It is an economy that trades with the rest of the world to a significant extent and establishes relations.

They are costs that are directly incurred during economic activity and involve a definite payment.

It is the monetary policy regime in which the central bank determines according to explicit rules how it will use monetary policy instruments to achieve the inflation it targets.

A written text in which, pursuant to Article 42 of the CBRT Law, if inflation targets are not achieved or the possibility of not achieving them arises, the reasons for this situation and the measures to be taken are notified in writing to the Government and simultaneously announced to the public. The open letter is written, under the principles of transparency and accountability, when inflation occurs at a point outside the symmetric uncertainty band defined around the point target.

Or abbreviated as API (OMO), the central bank's purchase or sale of securities from financial institutions for monetary policy purposes.

Within the framework of the targets of monetary policy, the CBRT's transactions — in exchange for Turkish lira — of outright purchase and sale of securities, sale with a repurchase commitment (repo), purchase with a resale commitment (reverse repo), and the taking and giving of Turkish lira deposits, with the aim of effectively regulating the money supply and the liquidity of the economy. Through open market operations, central banks ensure that short-term interest rates form around the policy rate(s) and regulate liquidity in the financial markets.

It is the portion of assets held through an instrument such as foreign exchange, gold or securities that is not offset by liabilities of the same kind. For example, if 5 million US dollars of assets are held against a liability of 10 million US dollars, the 5 million US dollars in between represent the open US dollar position.

It is the case where the income from production does not fully cover the variable costs arising from production.

It is the case where the income from production fully covers the variable costs arising from production.

; These are the income such as profit, interest, and rent obtained by capital and land in the production process.

It is the financial indicator that the central bank closely monitors in order to keep its intermediate target under control.

It is the return forgone by giving up a source's best alternative use; it forms the basis of the discount rate in capital budgeting.

It is the scale that enables production and sales at the lowest possible cost.

Contracts granting the right to buy or sell a certain good, asset or financial indicator at a predetermined maturity and price. While the holder of the contract has the right to buy (call option) or sell (put option) the instrument underlying the contract, it has no obligation whatsoever arising from the contract. The party selling (writing) the contract, on the other hand, is obliged to fulfill the terms of the agreement if the party holding the contract wants, at maturity, to buy or sell the instrument underlying the contract within the contract's conditions. The parties selling (writing) the options obtain premium income in return for this transaction. In markets where uncertainty (volatility) is high, the premium demands for the contract can reach very high dimensions.

The holder of the call option may purchase the shares at the agreed exercise price.)(The holder of the call option may purchase the shares at the agreed exercise price.)

İngilizce tanım: A contract that gives the holder the right, but not the obligation, to buy or sell an asset at a specified price.

; the idea that the utility consumers derive from goods and services can be measured not numerically but through comparison and ranking.

A production system directed at re-establishing the balance in nature lost as a result of mistaken practices, containing production systems friendly to humans and the environment by controlling diseases and pests with biological control ensuring continuity in the soil's fertility, prohibiting the use of synthetic chemical fertilizers and pesticides, recommending organic and green fertilization, crop rotation and soil conservation, every stage of which, from production to consumption, is under control, and the product obtained is documented with a certificate

( TDİOSB) A region for the production of goods and services that includes plant and animal production forming agricultural-based industrial inputs and industrial facilities for the processing of these, aimed at integrating the agricultural and industrial sectors.

The names defining the products originating from a locality, region or, in exceptional cases, a country with determined geographical boundaries, taking all or the essential part of their characteristics from the natural and human elements specific to this geographical area, and whose production, processing and other operations all take place within the boundaries of this geographical area. Mentorship: the guidance given by a more experienced or more knowledgeable person to a less experienced or less knowledgeable person.

General expenses are the costs that arise when an undertaking produces more than one product but cannot be attributed directly to the production of a single product. When production of one of these products ends, the undertaking cannot rid itself of its general expenses. It is possible to divide general expenses into common costs and operating expenses. A common cost is the cost that arises when multiple products are produced in a single production process. For example, crude oil is a common cost for these products, since both fuel oil and gasoline are produced from it

The output gap, defined as the difference of the output realized in an economy from its potential level, is an important monetary policy variable in the evaluation of the price pressures in the economy. Under the inflation targeting regime, central banks shape their policies according to the forward-looking inflation expectations rather than realized inflation. Accordingly, in the areas where the output gap is positive, it is estimated that the economy is operating above capacity because of the demand surplus, and that this can cause demand-side inflationary pressure. In contrast, in the areas where the output gap is negative, it is estimated that there is a supply surplus or idle capacity stemming from the weak demand in the economy, and that this too can cause a fall in inflation.

Or product market, the markets in which the goods and services destined for final consumption are bought and sold.

Or the expansion path, a diagrammatic tool showing how the combination of factors used by the producer changes as total product rises, with everything else held constant.

One of the open market operations the CBRT uses, within the framework of its monetary policy targets, with the aim of effectively regulating the money supply and the liquidity of the economy. It generally refers, in cases of a permanent liquidity shortage (tightness) in the market, to the CBRT's purchasing securities for its own portfolio from the market (from institutions authorized to conduct open market operations) and permanently providing liquidity to the system in return.

It is the transaction in which the central bank buys securities in the open market.

It is the transaction in which the central bank sells securities in the open market.

Example: The asset was transferred through an outright sale. ( The asset was transferred by way of an outright sale.)

İngilizce tanım: An unconditional sale transferring ownership completely and permanently.

The system involving the prior exporting of raw materials to be processed, their importation back into our country as products after being processed, and providing exemption from every kind of tax in this process. Target Market Analysis: the evaluation, quantitatively and qualitatively, of the market to be addressed. HES: the abbreviation of Hydroelectric Power Plant, a plant type converting the power of flowing water into electricity.

It is the market in which derivative instruments, whose transaction terms can be determined flexibly by the parties to the contract, are bought and sold. Since the buy and sell transactions are not carried out on organised platforms such as exchanges, it is classified in the over-the-counter market class.

They are markets that are not organised and do not come together under a specific structure. Transactions are carried out through mutual agreement between the parties.

It is the tendency of the investor to overestimate their forecasting ability and the quality of their information; it shows itself in excessive trading, insufficient diversification and high risk.

It is valuing a good one already owns more than the amount one would pay for it if they did not own it; it delays the sale.

Or the resource curse; the phenomenon whereby natural resources such as oil bring conflict, war, poverty and deprivation in some countries instead of economic growth.

It is the phenomenon whereby some goods that are of vital importance to people are cheap while some relatively unimportant goods are expensive.

It is a resource allocation that improves the position of some individuals without worsening the position of any other individual.

It is the value of another country's currency calculated against the currency of the country taken as the basis.

They are institutions that raise and use funds under the principle of participating in profit and loss rather than interest, and that provide various financial services.

It is the state of awaiting a response to applications previously submitted through active job search channels.

Rival undertakings can assist R&D activities in the said area by opening the patents they hold to one another's use, with the aim of achieving a technological development. Undertakings coming together for a project gather the patents they hold in a pool and open them to the use of the other undertakings in the project. While this behavior is fundamentally in the nature of an R&D agreement creating cooperation, for the purpose of facilitating technological development, such work co

It is the period showing how long it takes, from the Start, to recover the initial cost through the cash inflows of the investment; it is an incomplete method because it ignores the time value.

It is the total period during which, after investing in an investment instrument, the income or increase in value is earned and the investment cost is recovered.

It is the link between a securities transfer system and a funds transfer system that ensures delivery occurs if and only if payment occurs.

In foreign exchange conversion systems, it is the method that ensures that a transfer made in one currency is realised simultaneously and only with a transfer made in another currency.

It is a legal entity authorised under Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions to provide and carry out payment services.

It is the structure that provides the infrastructure needed for the swap and settlement (netting) transactions carried out in order to ensure the execution of fund transfers arising from transfer orders between three or more participants and that has common rules.

In game theory, it is the profit or loss a player ends up with after following a strategy.

It is a table showing the different payoffs that will result from different strategies as perceived by more than one player.

It is the point at which economic activity reaches its highest level at the end of the expansion process.

It is the average income obtained by dividing national income accounts such as GDP and GNP by the population.

In competition law, per se rules have been adopted to deem unlawful, in almost all cases, those behaviors whose natural and inevitable effects are clearly anticompetitive and for which a detailed study is not needed to show that they are unlawful. These are the practical rules of the US judicial process. Per se rules are accepted in cases where experience shows that certain behaviors will cause serious anticompetitive outcomes and can hardly ever be justified. Accordingly,

A hypothetical market model in which, owing to the presence of a great many buyers and sellers, it is not possible for individuals to influence prices, so prices are taken as given; entries into and exits from the market are entirely free; there is the opportunity of full information about market conditions; goods are homogeneous; the rational behavior pattern directed toward profit maximization is dominant; and production and exchange can be carried out free of any limitation. It is known that such a market cannot exist in reality

; A theoretical market structure with many buyers and sellers possessing complete information, homogeneous products, and no barriers to entry.

These are products or inputs that are used together.

Or first-degree price discrimination, the practice of selling a given product to each buyer at the highest price that buyer is willing to pay for it.

These are products or inputs that can be used in place of each other.

It is an infinite response of one variable to the smallest change in another variable.

It is a complete absence of response of one variable to an infinite change in another variable.

They are scales that produce quantitative information about projects and enable the project objectives to be defined in a clear and measurable way.

It refers to the interest an investment will earn over the period it is actually held.

It is the view that economic agents base their consumption not on their income in the current period but on the average income they expect to earn over their lifetime.

It is the income distribution measure that shows how total income is distributed among individuals.

It is the total income accruing to the citizens of a country, whether or not in exchange for goods or services.

The administrative fines of up to five percent of the fine imposed on the undertaking or undertaking association, given to the managers or employees of the undertaking or undertaking association whose determining influence in the infringement is established, regulated in Article 16(4) of the Competition Act in the event that fines relating to the substance are imposed on undertakings or undertaking associations.

A graphical tool showing the relationship between unemployment and inflation rates, other things being equal.

; They are man-made equipment such as machines, factories, vehicles, buildings used in production.

Example: Physical capital is measured in units of production capacity.( Physical capital is measured in units of production capacity.)

İngilizce tanım: Capital viewed as the physical productive capacity of an entity.

It is the school of thought that argues that wealth is determined by the amount of agricultural land owned and that economic relations are fundamentally a natural order.

It is the resolution put forward by the British economist Arthur Cecil Pigou, stating that total demand will increase when the general price level falls because of the appreciation of wealth.

It is a tax imposed on economic activities that create negative externalities.

Competition envisages a system in which there is no obstacle whatsoever to entry into the market. In other words, in competitive markets there is no obstacle before new undertakings' entering the market, and individuals can carry out any activity they wish within the framework of their own abilities, skills and knowledge. In markets where competition is restricted, however, the undertakings controlling the market, in order not to share their privileged position with others, use methods such as advertising and product differentiation to obstruct entry into the market

The power of one or a group of undertakings to raise the price above the level it should be under competitive conditions and thereby to obtain high profits from these actions. In a fully competitive market, the price of a product equals its marginal cost, and undertakings cannot influence the market price. In the case where price differs from marginal cost, at least theoretically, market power can be spoken of. Monopoly power can be defined as a high degree of market power. The undertaking's

Or abbreviated as AE, the market value of all final goods and services produced using the resources of a country in a given period and intended to be purchased.

Platform economies are the formations enabling two (or more) different but interlinked user groups operating in a two (or multi)-sided market to interact in a way that creates value for at least one of the sides. Their most frequently observed examples are online demand-coordinating platforms (online marketplaces, general or specialized search sites) and hardware/software platforms.

In game theory, they are the economic units whose behaviour is to be explained.

It is an elasticity calculation method used to find the elasticity at a single point on a curve or line.

It is the view that, under rational expectations, the state cannot create a lasting effect on production and employment by using monetary policy.

It is the interest rate that the central bank determines in line with its policy objectives and manages effectively.

It is the state's use of fiscal and monetary policies together in order to influence the macroeconomy.

It is a basket of assets composed of investments with different risk characteristics.

Example: Derivative products are managed as part of a portfolio of interest rate exposures.(The derivatives are managed as part of a portfolio of interest rate exposures.)

İngilizce tanım: A group of financial assets or liabilities managed together to achieve a common objective.

Portfolio investments that can be identified as investments in marketable securities, usually stocks, and bond-shaped debt securities issued by public or private institutions as well as other money market instruments include transactions with non-residents.

They are capital market institutions established as joint-stock companies that set up and manage funds focused on the main activity.

It is the strengthening by an undertaking holding a dominant position in a market of that dominant position after a concentration transaction, in particular by increasing its market share.

Refers to the net surplus position held in foreign currency, securities or any financial instrument. For example, having a 10 million US dollar cash surplus position means having, net (after cash US dollar debts are deducted), 10 million US dollars in cash in a portfolio. In other words, it expresses a surplus holding in an instrument.

It is an analytical resolution that examines the behaviour and systems of the employed from an objective standpoint and seeks only to explain them without passing judgement.

It is the positive impact that an economic activity has on people who are not party to that activity.

Or expansionary gap, the situation in which real GDP in the short term is above potential GDP and the economy is therefore considered to be in an expansion phase.

Where there is a small and persistent rise in prices, an undertaking that has the likelihood (and the intention) of entering the market by incurring the necessary conversion costs or by making mandatory investments is regarded as a potential competitor.

; It is the level of real GDP that is sustainable depending on natural, demographic, technological or institutional constraints.

They are the people among those of working age who are not employed and not unemployed, who are seeking work but are not in a position to start work within a short period, as well as those who are not seeking work but want to work and are in a position to start work within a short period.

It is the minimum income required for an average household in a country to meet its basic needs.

The project containing one or several solutions in which the plan, section, view and profiles are indicated — prepared on the basis of the data obtained, including the environmental impact assessment and feasibility reports, according to the precise requirements program of a certain structure, without the necessary land and ground investigations having been made, the information being taken from the existing maps.

It is the demand for money arising from the idea of being prepared for emergencies that may arise in the future.

It is the practice of excessively lowering the price for a limited period in order to eliminate competition.

It is the price paid as consideration for a product bought or sold.

It is the highest sales price set by the state for a good or a service.

It is the practice of selling a given product so as to earn different amounts of profit from different buyers.

Or price elasticity of demand, abbreviated as ε, a basic type of elasticity showing by what percentage the quantity demanded of a product falls as a result of a one percent increase in its price.

Or price elasticity, abbreviated as ε, a basic type of elasticity showing by what percentage the quantity demanded of a product falls as a result of a one percent increase in its price.

Or elasticity of supply, abbreviated as ε, a basic type of elasticity showing by what percentage the quantity supplied of a product changes as a result of a one percent increase in its price.

It is the lowest sales price set by the state for a good or a service.

It is a series of numbers measuring the average price of a given group of goods for different periods.

Example: The contract is linked to a consumer price index. ( The contract is linked to a consumer price index.)

İngilizce tanım: Statistical measure tracking changes in prices of goods.

Refers to the situation in which an undertaking in a dominant position, or whose leadership is accepted by the others, changes its prices and the other undertakings in the market adopt and follow this price. Apart from the price leader's being in a dominant position, on what criteria it is determined/selected is a matter that varies from market to market and requires research. Nevertheless, when price leadership is adopted to facilitate tacit agreement, the price leader generally has a high

It is an oligopoly model in which a dominant firm sets the price and the other smaller firms follow it.

It is a buyer or seller who has an influence on the price of a given product.

A supplier's recommendation of the price at which a good will be resold is assessed under competition law depending on whether this recommendation turns into a fixed or minimum price determination. Recommended pricing is problematic under competition law from two perspectives.

It is the market intervention applied by the state by determining the lowest or highest price to be paid for a product.

Price rigidity refers to the price of a good, service or production factor remaining constant despite perceptible changes in supply and demand conditions, or changing in only one direction. Price rigidity, also called price stickiness, is a matter closely concerning competition policies. For price rigidity is a phenomenon that can stem from a lack of competition and negatively affect social welfare. Market structure and undertakings' behaviors can create price rigidity. In general

It is the situation in which product prices in a country remain stable over time or change at a low and predictable rate.

It denotes a low and stable inflation rate that is low enough not to influence the decision-making processes of economic units with regard to the long-term fundamental objectives of monetary policy (growth and employment).

It is a buyer or seller who has no influence on the price of a given product.

It is the successive price cuts made by firms in response to one another in order to raise or protect their market share.

It is the ratio of the market value to the book value; below 1 it generally indicates undervaluation or impaired asset quality.

It is the ratio of the share price to earnings per share; it shows the price an investor pays for 1 unit of earnings and should be compared across sectors.

It is the budget balance calculated excluding the state's interest payments.

It shows the income earned and the amounts paid in return for providing labour, a financial or a natural resource, and includes the wages of the employed as well as investment income and expenses on direct investments, portfolio investments and other investments.

The market where first-time issuances take place. The first launch (sale) of an investment instrument, for example a security, is a primary market transaction. Likewise, the auction-based sale of government domestic debt securities by the Ministry of Treasury and Finance of the Republic of Türkiye is also a primary market transaction. Subsequent purchases and sales of these securities among investors take place in markets known as the secondary market.

Special terms are used to refer to the markets where the sale of the main product and the side products that need to be purchased along with it or later than it is realized. The first product the customer buys is called the primary product, and the product needed later for that product to be usable the secondary product. The markets where the trade of the primary and secondary products takes place are, respectively, the primary/fore market and the secondary/aftermarket

It is the principal-agent situation where, due to asymmetric information, the agent acts in its own interest after authority to carry out a transaction has been delegated.

The standards prepared for financial market infrastructure institutions, contained in the report published in 2012 by the Committee on Payments and Market Infrastructures (CPMI), an international standard-setting organization in the field of payments established under the Bank for International Settlements (BIS), and the International Organization of Securities Commissions (IOSCO), an international standard-setting organization in the field of securities. Under the said report, financial market infrastructures are payment systems, securities settlement systems, central counterparties, central securities depositories and data repositories.

The list prepared by the Ministry of Industry and Technology with the aim of identifying the products to be prioritized, taking into account criteria such as foreign trade data, global competitive conditions, local and global demand trends, domestic production competence and capacity, and contribution to sectoral and inter-sectoral technological development.

It is the concept of game theory describing how players who cannot cooperate and act in their own interest end up in a situation that is not best for any of them.

; It is the budget of institutions established under a ministry or to carry out a specific public service, such as the Higher Education Council, Turkish Language Institution, universities, TÜBİTAK.

Or abbreviated as C, the main expenditure heading covering the purchases of goods and services for consumption by domestic economic units.

These are goods that are excludable in consumption and create rivalry.

Or abbreviated as Pr, the relative frequency with which the outcome of a random event is observed.

Example: A provision is recognized when an outflow of resources is probable.( A provision is recognised when an outflow is probable.)

English definition: More likely than not to occur.

It is the situation in which total cost is at its minimum subject to the product and factor price constraints.

Or abbreviated as PPI (ÜFE), the price index covering the basket of goods and services produced domestically and based on the prices at which they are first offered for sale by producers.

The difference between the price the producer actually sells at and the price it is willing to sell at is called the producer surplus. The concept of producer surplus is dealt with within the scope of competition economics/policy because, when there is a price increase in the market, while the consumer surplus decreases, this decrease is not transferred as an equal amount of producer surplus (and the deadweight loss thereby formed) results in a fall in total social welfare.

It is the difference between the lowest price a seller will accept for a product and the higher of its prices on the market.

It is the name given to manufacturing firms that produce parts, equipment or other goods for another company.

It is product development aimed at creating a perception of difference in the eyes of the consumer in order to gain market power.

Or output market, the markets in which the goods and services destined for final consumption are bought and sold.

It is the process of converting various production factors into goods and services.

It is the total of all expenses incurred in the production process, including input costs, research and development expenditure and taxes.

The diagram requested during the application for the investment incentive certificate, in which the investor shows the stages of production of its goods and services, also stating the number of personnel to be employed at each stage. Product Diversification: the type of investment expressing that an investment incentive certificate has been obtained with the aim of increasing the number of varieties of the product produced. Maturity: the period granted for the performance of a work for which a sanction is generally foreseen in the event of non-performance, or for the payment of a debt.

It is the mathematical relationship showing how the quantity of output changes depending on the inputs used in the production process.

The joint ventures formed with the aim of producing. Production joint ventures can be fully functional, or can also emerge as non-fully functional (partially functional) joint ventures undertaking only a limited part of the parent undertakings' fields of activity. The reason for partial functionality is generally that, because these ventures make use of the parent undertakings' raw material sources and technical knowledge, they cannot behave independently in the markets, and the sale of the produced products is left to the parent undertakings

A graphical tool showing the various combinations of goods and services that can be produced when all available resources are used in the best possible way.

It is the set of principles explaining what inputs a producer wishing to make a profit can use, how much production it can carry out and at what price it can sell these.

It is the production of goods and services at the lowest possible unit cost.

Or abbreviated as Π, the difference between the total income obtained from economic activity and the total cost incurred for it. It is also income in the form of profit shares distributed by companies to their capital owners or undistributed company profits.

Example: Profit for the period is reported in the income statement. ( Profit for the period is shown in the profit and loss account.)

English definition: Income exceeding expenses.

In economic theory and in the accounting discipline it is possible to speak of two separate profit concepts that differ from one another. The profit concept used in accounting expresses the revenue surplus remaining in the firm's hands after it has covered the costs of all the inputs it used in production. Profit in the economic sense, on the other hand, expresses the revenue surplus formed after the opportunity cost of producing the good is also added to the total costs. In this case, a firm earning zero profit in the economic sense still earns normal

One of the fundamental assumptions on which microeconomic theory rests is that firms realize their production quantities at the level that maximizes their profits. At this production quantity, the price level forming in the market is named 'the price at the level where profit is maximized'. In microeconomic theory this point is the price formed according to the demand function at the production level where marginal revenue equals marginal cost.

It is the selection of the production quantity that maximises total profit given income and expenses.

The support program implemented by the Ministry of Industry and Technology with the aim of raising Turkish industry's competitiveness, innovativeness and efficiency, taking a greater share of global exports, predominantly producing high-technology products, and transforming industry into a structure possessing qualified labor and at the same time sensitive to the environment and to society. Liquidity: the degree to which enterprises' assets can be quickly and easily converted into cash.

They are programmes applied in countries such as the United Kingdom and South Korea that provide for rewards to be paid to those who are not part of a cartel but somehow have information about its existence and report it.

It is a taxation system in which the tax rate rises as the taxable amount increases.

( It is an incentive system that came into force with the Decision on Granting Project-Based State Aid to Investments numbered 2016/9495, aiming to support innovative, R&D-intensive and high-value-added investments on a project basis, which will meet our country's current or future critical needs, ensure supply security, reduce external dependence, realize technological transformation.

The procedures and principles relating to the determination of the trade secret nature of the information obtained from the relevant addressees in the implementation of the Competition Act, and to the protection of these secrets, are regulated in Article 25 of the Act and between Articles 12 and 15 of the Communiqué No. 2010/3 on the Regulation of the Right of Access to the File and the Protection of Trade Secrets. On the other hand, with the aim of protecting the confidentiality of trade secrets, Article 239 of the Turkish Penal Code No. 5237 regulates the offense of disclosing trade secrets, banking secrets or customer secrets

They are the economic policies aimed at blocking or limiting imported products in order to support domestic production.

It is the total of the state's domestic and external debts.

“ They are goods and services that do not have "competition in consumption" and "exclusion" characteristics. If one person's consumption of a good does not reduce others' consumption of that good, it is considered that the good does not have the characteristic of "competition in consumption". If one person's consumption of a good does not exclude others from consuming that good, it is considered that the good does not have the characteristic of "exclusion". Such goods/services can be provided by the state as well as by private enterprises.

It is the decision that arises before the expropriation decision in order for the administration's expropriation decision to be able to be taken, that initiates the expropriation process and that is approved by the competent authorities.

It refers to the public sector net debt stock calculated by deducting the financial assets held by the public sector from the total of its domestic and external debt liabilities.

It is a business model in which the state gives a procurement commitment in order to encourage the private sector and enable investments with less financing need.

These are goods that are not excludable in consumption and do not create rivalry.

It is the general balance of the public sector covering the central government budget, local administrations, state economic enterprises, extra-budgetary funds, social security institutions, the unemployment insurance fund, revolving fund institutions and general health insurance.

It is the coverage of losses arising during the resolution of a financial institution using public funds.

It is a diffusion index obtained from the answers given by the purchasing managers of industrial companies to questions about production, orders, employment, suppliers' delivery times and the development of input stocks.

The exchange rate that equalizes the prices of similar goods and services subject to trade in a certain basket across different countries. Since, in calculating purchasing power parity, only the goods and services subject to trade are taken into consideration, such a calculation can fall short of measuring the true value of the rate of exchange between the two countries' currencies.

It is an oligopoly market in which homogeneous products are bought and sold.

It expresses the right to sell. It gives the party holding the option contract the right to sell the instrument underlying the option under the conditions stated in the option, but brings no obligation. Depending on market conditions, the party holding the option may not exercise the option. The exercise of the option is expressed as being 'exercised'. The party selling the option, on the other hand, is obliged to fulfill the terms of the contract if the buying party wants to exercise the option.

Example: The non-controlling interest held a put option that could require the group to buy its shares.(The non-controlling interest held a put option that could require the group to buy its shares.)

İngilizce tanım: A contract giving the holder the right, but not the obligation, to sell an asset at a set price.