- Industry: Education
- Number of terms: 31274
- Number of blossaries: 0
- Company Profile:
1. The exchange of human beings, regarded as property of other human beings, in exchange for money or other things of value. 2. The transport of slaves that took place between Africa and other parts of the world, especially the Americas, especially in the 17th and 18th centuries.
Industry:Economy
A decline in performance, either of a firm as a slump in sales or profits, or of a country as a slump in output or employment.
Industry:Economy
An acronym for the CES function based on the names of the four authors who introduced it in Arrow et al. (1961).
Industry:Economy
An arrangement used briefly in Europe after the collapse of the Bretton Woods System in which European currencies were permitted to vary 1% against each other (the snake but 2. 25% against the dollar (the tunnel).
Industry:Economy
A good that has not been processed and is therefore in its natural state, specifically products of agriculture, forestry, fishing, and mining.
Industry:Economy
1. The initial amount of a loan, thus not including interest. 2. The person or other entity on whose behalf an agent acts, in the Principal Agent Theory.
Industry:Economy
A strategic interaction in which two players both gain individually by not cooperating, but leading to a Nash equilibrium in which both are worse off than if they cooperated. Important especially for explaining why countries may choose protection even though all lose as a result. See tariff-and-retaliation game.
Industry:Economy
A specification of the probabilities for each possible value of a random variable.
Industry:Economy
A good that has been transformed in some way by a production activity, in contrast to a raw material.
Industry:Economy
A government official responsible for purchasing goods and services and for deciding among alternative suppliers.
Industry:Economy
