THOMAS C. SCHELLING
American economist and professor who received the 2005 Nobel Memorial Prize in Economics, along with American mathematician Robert J. Aumann. He did a research on improving the understanding on conflict and cooperation through game theory, which has been used in conflict resolution and war avoidance, Many of his research interests include national security, ethical matters, and energy and environmental policy relative to public policy and business.
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Property Tax
Local governments assess property tax on real estates. The tax is often based on the property’s value.
Onerous Contract
A contract that produces products or services for a bigger amount that would be anticipated profit. A lease contract is an example of onerous contr ...
Overhead
It is an accounting term that refers to all current business expenses not including o direct labor, direct materials or third-party expenses which ...
Substitute
Product or service replacing and satisfying the need of a consumer. This can be perfect or imperfect, depending on whether the substitute partially ...
Materials Requirement Planning - MRP
A production planning and inventory control system designed to manage manufacturing processes and production. A software based integrated informati ...
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