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DefinitionIn economics, the principle of absolute advantage refers to the ability of a party to produce a greater quantity of a good, product, or...

What is a 'Call Provision' A call provision is a provision on a bond or other fixed-income instrument that allows the original...

By definition, credit cards are released by financial companies that allow the customer or holder with the choice of borrowing funds, at the point...

What is a 'Qualified Opinion' A qualified opinion is a statement issued after an audit is done by a professional auditor that suggests the information...

What is a 'Variable Overhead' Variable overhead is the indirect cost of operating a business, which fluctuates with manufacturing activity. For example,...

DefinitionIn finance, a failure to deliver is the inability of a party to deliver a tradable asset, or meet a contractual obligation. A typical...

DefinitionIn most countries, a general partnership is an association of persons or an unincorporated company with the following major features... General Partnership What...

DefinitionA credit card is a payment card issued to users to enable the cardholder to pay a merchant for goods and services based on...

What is 'Back Of The Napkin Business Model' A slang term that refers to the representation of the basic components of a...

DefinitionThe law of supply is a fundamental principle of economic theory which states that, keeping other factors constant, an increase in price results in...