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Economic Definition of speculation. Defined. Term speculation Definition: Buying an asset with the intent of reselling it later at a higher price. The purpose of speculation is simply to buy low today and sell high tomorrow. Those who engage in speculation have no reason for buying the asset, other than resale at a later time.
Supply-side economics. Supply-side economics is a macroeconomic theory that argues economic growth can be most effectively created by investing in capital and by lowering barriers on the production of goods and services. It was started by economist Robert Mundell during the Ronald Reagan administration.