Tag: costs
National Treatment
DefinitionNational treatment is a principle in international law vital to many treaty regimes. It essentially means treating foreigners and locals equally. Under national treatment,...
Natural Monopoly
DefinitionA natural monopoly is a monopoly in an industry in which high infrastructural costs and other barriers to entry relative to the size of...
Offset Mortgage
Definition
The term flexible mortgage refers to a residential mortgage loan that offers flexibility in the requirements to make monthly repayments. The flexible mortgage first...
Oliver E. Williamson
DefinitionOliver Eaton Williamson is an American economist, a professor at the University of California, Berkeley, and recipient of the 2009 Nobel Memorial Prize in...
Offsetting Transaction
What is an 'Offsetting Transaction' In trading, an activity that exactly cancels the risks and benefits of another instrument in the portfolio....
Oil Pollution Act Of 1990
Definition
The Oil Pollution Act of 1990 was passed by the 101st United States Congress and signed by President George H. W. Bush. It works...
Oil Refinery
DefinitionOil refinery or petroleum refinery is an industrial process plant where crude oil is transformed and refined into more useful products such as petroleum...
Manufacturing Cells
DefinitionCellular manufacturing is a process of manufacturing which is a subsection of just-in-time manufacturing and lean manufacturing encompassing group technology. The goal of cellular...
Malpractice Insurance
DefinitionProfessional liability insurance, also called professional indemnity insurance but more commonly known as errors & omissions in the US, is a form of liability...
Manifest Variable
DefinitionIn statistics, observable variable or observable quantity, as opposed to latent variable, is a variable that can be observed and directly measured. Manifest Variable...