A luxury spending that is targeted for psychologial craving or status. Thorstein Bunde Veblen first used the term.

A nonchanging value dollar used to buy power.

The value a currency has in relation to its value from another year or time. Wages are adjusted due to inflation to keep the currency rate constant. Refer to current dollar.

A loan that while it is paid off a large amount comes off the balance. Much of many payments go towards interest alone.

A process that doesn’t change the scale. The increase and decrease occur at the same rate. It is a show off efficiency. Refer to declining returns to scale and economies of scale.

A situation where payoffs add up to a constant figure for any outcome. One player winning must be offset by another players losses. A zero sum game is an example of this.

Accounting that displays funds in the same currency rate without inflation to keep comparison easy. AKA constant cost accounting or constant dollar accounting. Refer to in real terms.

A variable that can’t be changed once it gets a value. Refer to dependent variable and independent variable.

An industry where units are of comperable cost regardless of volume or growth potential. Input costs don’t go up when demand does in this case.

A unit that votes legislators into office.

A group that has power to change the constitution.

A company thats part of group. It is under the rule of a parent company. It is acquired to meet needs of a group.

Law that comes from the constitution. It gives guidelines and rights from a governmental source.

A rule that restricts a governmental branch’s power.

A story used to organize facts and explain theories. Refer to constructed knowledge. AKA hypothetical construct, logical construct, or theoretical construct.

The amount that knowledge and experience are combined in a useful process. It is meant to keep balance between goals and resources. Refer to buildability.

Rules that prevent competition or starting a construction project.

Information found when researching and questioning what is available. The knowledge is created through investigation.

The meaning of an unclear phrase that is clarified in its context. Refer to noscitur a sociis.

The price that is charged based on the information available.