Tag: concepts

Knowledge Economy

DefinitionThe knowledge economy is the use of knowledge to generate tangible and intangible values. Technology, and in particular, knowledge technology, helps to incorporate part...

Key Employee

DefinitionKey employee, in U.S. Internal Revenue Service terminology, is an employee classification used when determining if company-sponsored qualified retirement plans, including 401 defined benefit...

Key Currency

Key Currency What is 'Key Currency' The currency used as a reference in an international transaction or when setting an exchange rate....

Yo-Yo

DefinitionA yo-yo is a toy consisting of an axle connected to two disks, and a string looped around the axle. It has some similarities...

National Income Accounting

DefinitionA variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including...

Narrow Basis

Narrow Basis What is 'Narrow Basis' A condition found in futures markets in which the spot price of underlying commodities is close...

Managerial Accounting

DefinitionIn management accounting or managerial accounting, managers use the provisions of accounting information in order to better inform themselves before they decide matters within...

Absolute Advantage

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

Random Variable

Random Variable What is a 'Random Variable' A random variable is a variable whose value is unknown or a function that assigns...

Sample Selection Bias

DefinitionIn statistics, sampling bias is a bias in which a sample is collected in such a way that some members of the intended population...

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