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

VARIABLE RATE DEMAND OBLIGATION (VRDO)

Debt security with floating interest rate adjusted regularly and redeemed when a rate changes. Also known as low floater, variable rate demand note, variable rate demand bond.

VARIABLE UNIVERSAL LIFE INSURANCE

Policy for life insurance featuring variable and universal life insurance. Allows policy owners to have benefits of life insurance for beneficiaries while using life insurance as a tool of savings and investment.

VARIATION

Change of output or result that becomes inevitable over time as systems will always vary.

VAULT

A safe and secure area in financial institutions for storing money and valuables.

VEBLEN EFFECT

Abnormal behavior of a market where higher priced goods are bought even though lower priced substitutes are available.

VECTOR

Set of numbers or elements arranged in a table as rows and columns.

VECTOR GRAPHICS

Computer graphics that are not pictures and unlike raster graphics are represented by mathematical equations as geometric shapes.

VELOCITY

Economic strength measurement estimating the times a single dollar will change hands over a period of time.

VELOCITY OF MONEY

Rate that money circulate at, turns over and changes hands. High velocity equals high number of transactions. Also known as velocity of circulation.

VELOX

Graphic image on light sensitive paper that is able to be copied photographically, manipulated and then transferred to a plate for printing. Also called Photomechanical Transfer, PMT, and replacing it is Lion

VENDING MACHINE

Electronic machine that dispenses products when money is put it into it.

VENN DIAGRAM

Mapping diagram of overlapping circles showing the relationship between items.

VENT FOR SURPLUS

Adam Smith theory proposing that greater economic resources are used in international trade than through national trade.

VENTURE CAPITAL FIRM

Private, semi-government or government company providing growth equity or start-up capital for venture showing promise of higher returns than market rates of interest.

VENTURE CAPITALIST

Private investor offering capital to business ventures with promise. See adventure capitalist and angel investor.

VENTURE PLAN

Plan written by an entrepreneur showing how they manage and direct a new business to get to certain goals.

VERSION

Releases of the same item with changes made along the way.

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