Category: P

The interaction between the demand and supply in the free market that is used to determine the costs for a goods or service. TLD Example: The unexpected cold weather is expected to influence

A primary concept, assumption, etc that is held to be true and fundamental for a particular field, procedure, knowledge. It is used to predict the course of related entities.

The right of the lender to claim the borrower’s assets under the terms of the loan agreement. If the borrower’s assets are liquidated. The holder of the prior charge is the one

An organization that is not related to the government and is notforprofit. The directors and trustees of the foundation contribute and manage the accounts. Usually, charitable institutions, and other related activities are

The rate for a time period that is shorter than the contract period.

For the purpose of inheritance taxes, the price of the shares are determined. It is computed by first taking the difference of the offered and bid prices, dividing it by four and

In direct relation to the overall state of the economy. The value of an asset is procyclic if it moves in tandem with the economy.

It is an economic tool used to measure the efficiency of a worker, capital output unit, system and economy in transforming inputs into outputs.

A gradual increase in punishment in accordance with the frequncy of crime commitment.

1. Planning: Phenomenon of making calculated guess into future according to the past trends. 2. Psychology: Superimposition of one’s perceived unwanted notions, emotions onto others.

This can be a receipt, label, tag or botle cap which shows that the person has indeed purchased the item specified. Often used in promotional campaigns to increase sales of a particular

Documents and data that has been generated by the company to allow it to control and safeguard its competitiveness over other companies. This proprietary data is protected by copyright laws, patent laws

Developed in 1979 by Amos Tversky and Daniel Kahneman. Most individuals will make a decision that will lead to a gain rather than a loss. Risks are put into 2 categories depending

The levels of a resource such as coal, oil and gas that is estimated with an amount of certainty after study of geological and engineering factors that can be removed from a

Having to do with and related to the science of psychology. There may be psychological reasons why certain people react one way or another that is different to how other people will

An organisation that is charitable whose funds are provided by a company or private person, though not more than 50% of the capital can be from that company or private individual.

The governement owns at least 51% or controlling share of the company. It is known as nationalisation when it is completely owned by the general public.

The provider of a service to the public such as transport, enertgy, telecommunications, waste disposal, or water and any other public goods and services.

Lists of jobs that have not been completed by a contractor before he is due to be paid. All items must be completed before the contractor is paid the rest of his

A situation that has arisen where there is no chance of gain but there is a chance of a loss. There will never be a chance for gain but you may not