Economics

Visible supply is the volume of a product or service available to be purchased or sold that is currently being stored or transported. Visible supply…

A Keogh plan is a retirement tax-deferred plan intended for self-employed individuals. While most plans are defined as a defined contribution, a Keogh plan may…

Succession planning refers to the process of hiring and cultivating workers in order to fill a key role within an organization. Often known as “replacement…

Forward integration is a form of vertical integration that stretches to the next stages of the supply chain, aimed at reducing the cost of production…

A defined-contribution plan (also known as a DC plan) is a usually tax-deferred retirement plan, such as a 401(k) or 403(b), in which staff contributes…

Infrastructure is the general term for a business, area, or nation’s basic physical structures. Investments in public works are funded by the government through the…

Public infrastructure alludes to infrastructure offices, frameworks, and designs that are claimed and worked by the “public,” i.e., the government. It is recognizable from nonexclusive…

The poverty trap is a spiraling mechanism that forces people to remain poor. In economics, a poverty trap or cycle of poverty is caused by…

Best value determinations allow consideration of non-cost factors. Best value procurement (BVP) is increasingly used in conventional design-bid-build (DBB) delivery, which raises questions regarding the…

Government procurement is the process by which the government acquires the goods and services it needs by purchasing from commercial businesses. It is a huge…

Contract Award means the formal document awarding the Contract to the Contractor. Contract awarding is the method used during procurement in order to evaluate the…

A complete contract is an important concept from contract theory. The complete contract method of revenue recognition is a concept in accounting that refers to…