Category: P

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

This a network of marketing that is illegal in most countries. In order to sell retail products a person has to pay a joining fee. Only the person initiating the scheme makes

In anticipation of a future event, preparation helps to make something ready to be utilized.

The risk associated with the failure of the couterparty to settle the required amount.

Under this agreement, the price that the buyer pays is the one prevalent at the time of shipping and not the price at the time of ordering.

The greater the level of activities that are undertaken in a specific period, the lower the yielded benefit, assuming that other factors are constant.

Costs and revenues that were documented in the firm’s financial statements from the previous year.

The consumption of an item, that deems it unusable for another individual or party.

A behaviour that focuses on results and actions rather than acting when something happens. This type of behaviours aims to identify and take advantage of opportunities and also to prevent potential threats

The submission of a will to a probate court that will rate it and approve the distribution of the assets to the concerned entities.

An individual or entity that produces animal, agricultural or botanic products mainly through the natural processes, but with a little bit of stimulation provided by nutrients, labor, etc.

A macroeconomic tool used to measure the rate of inflation over a certain period of time, normally in decades. Productivity refers to the capacity to produce and cost refers to the economic

Distribution of payment period at certain different stages, to be made to a contractor, according to the work being done.