TRADE WAR
Conflict that occurs between two or more countries seeking to restrict trading from the other. Moreover, it refers to tariffs and retaliation. This may be stimulated when one country finds the trading practices or regulations of another unfair, or when domestic trade unions pressure politicians to make imported goods less appealing to customers. Trade wars are also caused by a misunderstanding of the free trade’s benefits.
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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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