SHORT RUN
Short Run, in the context of economics, is the assumption that at least one input will always be fixed while others are varying in the future within a specified time period. The short run varies on the length of the contract of a firm. It is not definite in the sense of time periods.
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Tit for Tat
Game theory mechanism subject to a payoff matrix similar to a prisoner’s dilemma. Anchored on the concepts of retaliation and altruism, this ...
Nonsegregated Disclosures
Information that must be presented legally anywhere in a lease agreement. These are required by the Federal Reserve Board Regulation M. The lease a ...
Product Line
A series of related products which are all made or manufactured by the same company.
Behavioral Economics
The scientific study on how the mind thinks and how each person reacts as it relates to the process of decision making in economics of individuals ...
Infant-Industry Theory
A theory stating the emerging domestic industries must be protected against foreign competition until they become established and mature. In econom ...
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Buying a Home: Selecting a House Suitable for Your Needs
After choosing the best location of your new house, it is about time to decide on the home that you want. Basically, there are three types of homes ...
Student Loans: Consolidating Federal Loans
If you find it difficult to monitor and pay the student loans on your own, and want to reduce your monthly payment and lengthen the repayment sched ...
What is the Standard Moving Cost?
You concluded remodeling is expensive upon considering all important factors. So you decided to move to another house instead. But, is moving less ...
Buying a Home: Getting Pre-Approved for a Mortgage
You have determined the amount needed to buy the home of your dreams. Now, figure out the amount a bank can lend you. The rationale behind this is ...
Digesting Financial Statements: Long-Lasting Liabilities
Long-lived liabilities refer to obligations which are due more than a year. Some examples of long-term debt include convertible bond and capital le ...
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