Business

Economic Entity Definition (Economic Entity Assumption) – The economic entity assumption is an accounting principle that states that all transactional data associated with a specific…

A sales forecast is a protrusion of reachable sales revenue, based on traditional sales data, analysis of market surveys and tendencies, and salespersons’ estimates. Sales forecasting is…

Any forecast can be termed as an indicator of what is likely to happen in a specified future time frame in a particular field. Sales forecasting is…

A sales forecast is a protrusion of reachable sales revenue, based on traditional sales data, analysis of market surveys and tendencies, and salespersons’ estimates. Sales forecasting…

Business risk is a growing concern, especially in today’s economy. It is the risk inherent in the operation of the business. It generally includes the entire…

Financial forecasting is a process of projecting future financial requirements of a firm.  Financial forecasts assist in managing your finances. They are future predictions of…

Chainstore Paradox The chainstore paradox (or “chain-store paradox”) is a concept that purports to refute standard game theory reasoning. The chain store game is a…

About Nash Equilibrium Nash Equilibrium is a concept of game theory where the optimal outcome of a game is one where no player has an…

About Bayesian Efficiency Bayesian efficiency addresses an appropriate economic definition of Pareto efficiency where there is incomplete information. Under Pareto efficiency, an allocation of a…

About Pareto Efficiency Pareto efficiency (or Pareto optimality) is a quality of allocations in economics and game theory. If an allocation is Pareto efficient, no…

About Allocative Efficiency Allocational efficiency is a characteristic of an efficient market in which capital is allocated in a way that is most beneficial to…

About Agency Cost Agency costs are the costs of disagreement between shareholders and business managers, who may not agree on which actions are best for…