The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: K

KEY JOBS

Organization’s and Labor market’s common jobs used to determine general pay scales. Clerks, drivers, janitors, and secretaries are examples of common jobs.

KEYNESIAN THEORY

British economist John Maynard Keynes established this economic theory. A stable, growing economy requires active government intervention is the concept embodied by the theory.

KILOWATT-HOUR (KWH)

Electrical power consumption measure of a standard unit equal to 1000 watts in an hour. Equivalent to 860 kilocalories, or 3412 British thermal units (Btu) as a measured consumption rate.

KNOWLEDGE CAPITAL

Experience, information, knowledge, learning, and skills of the employees of an organization tallied into expertise, high-capability. Knowledge capital is an essential component of human capital. Knowledge capital builds the longest lasting competitive

KARL MARX

The foundation of communism evolved from this revolutionary socialist thinker. He strongly opposed capitalism, believing it would destroy societies by increasing tensions and disparity between workers and owners. His theories and ideas

KEY LIFETIME

For encryption-decryption security, private decryption keys have no expiration, an indefinite lifetime. Secret keys, however, have terminal lifetimes that need to be defined in an organization’s security policy.

KEYNESIAN UNEMPLOYMENT

Because the economy is in recession, employers have low demands for their goods and services, situation exists where low wage-rates should drive to higher employment levels, but do not.

KINKED DEMAND CURVE

Standard demand curve with a bend depicting competitors decreasing prices to match another’s, yet not raising prices to match another’s. Concern is that raising prices lose customers, so that once a business

KNOWLEDGE CREATION

Defined by Ikujiro Nonaka, interactions between explicit and tacit knowledge form new ideas. Socialization (tacit to tacit), externalization (tacit to explicit), combination (explicit to explicit), and internalization (explicit to tacit) are the

K-COMMERCE

Knowledge Exchange as the basis of an economy where knowledge capital is the defacto currency, an underlying premise in knowledge-based economies .

KEY MAN RISK

The effect losing one important member of the team causes.

KEYSTONE MARKUP

Gross margin equaling cost price or half the sale price. Said another way, any item selling at twice the wholesale cost, purchased or produced, has a keystone markup.

KINKED YIELD CURVE

When medium term interest rates are higher than low or high. Refer to negative yield curve, yield curve, and positive yield curve.

KNOWLEDGE ECONOMY

Building, evaluating, and trading knowledge is the basis of this economy. Labor costs slowly decrease in importance while dwindling concern occurs over scarcity of resources and economies of scale, traditional economic concepts.

KDE

K Desktop Environment. KDE was a project begun by Matthias Ettrich in 1996. It was developed mainly by European volunteers. It is a Linux-based non-proprietary graphical user interface (GUI). It works with

KEY MONEY

Deposit on a leased property paid by the lessee.

KEY-TESTED TELEX

Telex machine wire fund transfer messages authenticated using code (key) numbers. Contrast to modern digital data transfer. .

KIOSK

Upright, retail outlet display or entry-port in a large retail establishment or a shopping mall to assist customers.

KNOWLEDGE MANAGEMENT

Building of an organization’s intellectual assets by strategies and processes. Driving to identify, capture, structure, value, leverage, and share, enhancing results and market share. Two critical activities are its basis: (1) retain

KEEPWELL AGREEMENT

A parent company and a subsidiary imitate such a contract to guarantee the subsidiary all necessary financing over a specified time-period. The parent company provides this. This contracted support gives potential lenders

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