Economics

A macroeconomic model is an analytical tool designed to describe the operation of the problems of the economy of a country or a region. They…

Financial econometric is the application of statistical methods to financial market data. It is an active field of integration of finance, economics, probability, statistics, and…

Customs Duty is levied when goods are transported across borders between countries. It refers to the tax imposed on goods when they are transported across international…

Adverse selection occurs when there’s a lack of symmetric information prior to a deal between a buyer and a seller. In economics, insurance, and risk…

An agency cost is an internal expense that comes from an agent taking action on behalf of a principal. It is an economic concept concerning…

Free market is a summary term for an array of exchanges that take place in society. Each exchange is undertaken as a voluntary agreement between…

Opportunity Cost is an economics term that refers to the value of what you have to give up in order to choose something else. When…

Enterprise value (EV) or firm value (FV) is an economic measure reflecting the market value of a business (i.e. as distinct from market price). It…

Social capital refers to the intangible resources embedded within interpersonal relationships or social institutions. It is the effective functioning of social groups through interpersonal relationships,…

Human capital is the stock of habits, knowledge, social and personality attributes (including creativity) embodied in the ability to perform labor so as to produce…

Division of Labor is the separation of tasks in any economic system so that participants may specialize (specialization). Individuals, organizations, and nations are endowed with…

Social accounting is the process of communicating the social and environmental effects of organizations’ economic actions to particular interest groups within society and to society…