Economics

Auction chant is a rhythmic repetition of numbers and “filler words” spoken by auctioneers when taking bids at an auction. When you first hear the…

An auction is a public sale in which goods or property are sold to the highest bidder. It is usually a process of buying and…

Foreclosure is the legal process in which a lender or mortgage investor takes back unpaid property. It is a legal process in which a lender…

The glut is an excessively abundant supply of something. It refers to a situation when more goods are available in the market than they can…

Auctions are an event where different parties can bid for the right to purchase a good or service. Auction theory is an applied branch of…

Silent trade, also called silent barter, dumb barter, or depot trade, is a method by which traders who cannot speak each other’s language can trade…

Asymmetric information is a cause of market failure in many different areas. It causes an imbalance of power. In contract theory and economics, information asymmetry…

Request for Tenders (RFT) is an opportunity for potential suppliers to submit an offer to supply goods or services against a detailed tender. It is…

The foreclosure process can be difficult for the homeowner who is about to lose his home. Foreclosure Stripping is the process in which the owners…

Artificial Demand is when you or someone else thinks a learning solution is valuable, but there’s no plan to change people’s behavior or improve their…

Collaborative consumption encompasses the sharing economy. It is a new approach to consumer access to goods and services based on an interdependent peer-to-peer model. Collaborative…

Conspicuous consumption is the term refers to consumers who buy expensive items to display wealth and income rather than to cover the real needs of…