Tag: society
John Stuart Mill
DefinitionJohn Stuart Mill, also known as J.S. Mill, was a British philosopher, political economist, and civil servant. One of the most influential thinkers in...
Law Of 29
What is 'Law Of 29' A belief held by some marketers that on average a prospective customer will not purchase a good...
Laissez Faire
DefinitionLaissez-faire is an economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs and subsidies. The...
Law Of One Price
DefinitionThe law of one price constitutes the basis of the theory of purchasing power parity, an assumption that in some circumstances it would cost...
Lambda
What is 'Lambda'
The ratio of the percentage change in an option contract's price to the percentage change in the option's underlying price. Lambda is...
Economic Life
What is economic life and why is it important to businesses
Economic life is the length of time that a particular product or service can...
Eco-Communalism
What is 'Eco-Communalism' An economic/environmental philosophy focused upon local economies, sustainability and self-sufficiency. Eco-communalism is centered upon the belief that many self-sufficient...
Haggle
What is 'Haggle' When two parties involved in the purchase of a good and service negotiate the price until both parties can...
Yale School of Management (Yale SOM)
What is 'Yale School of Management - Yale SOM' Yale University's graduate business school. The school offers both MBA and Ph.D. level...