Tag: principles

DefinitionIn economics, a commodity is an economic good or service that has full or substantial fungibility: that is, the market treats instances of the...

DefinitionDavid Ricardo was a British political economist, one of the most influential of the classical economists along with Thomas Malthus, Adam Smith and James...

What is an 'Underlying Profit' An underlying profit describes an actual reflection of a company's profit. The underlying profit is not the...

What is 'Uberrimae Fidei Contract' A legal agreement requiring the highest standard good faith. "Uberrimae fidei" or "uberrima fides" is Latin for...

What is 'Values' The worth of a nonforfeiture clause that specifies that an insured party would receive the equity from a life...

DefinitionIn accounting and in most Schools of economic thought, fair value is a rational and unbiased estimate of the potential market price of a...

Any resource which has an economic value is termed as an asset. An asset is controlled by either an individual or an organization in...

What is a 'Valuation' Valuation is the process of determining the current worth of an asset or a company; there are many...

What is 'Uncle Sam' A nickname dating back to 1812 used to refer to the U.S. government. The term is said to...

DefinitionKey money is one of several forms of payment made to a landlord. The term has various meanings in different parts of the world....