Definition arbitration: When disputes and disagreements are referred to an independent arbitration panel who consider the evidence and then make a binding decision on both parties. Arbitration is used in Industrial disputes Commercial disputes International disputes over legal and trade issues Pendulum Arbitration This is when an arbitration panel looks at both sides of the …
Definition: Arc elasticity of demand measures elasticity between two points on a curve – using a mid-point between the two curves. On most curves, the elasticity of a curve varies depending on where you are. Therefore elasticity needs to measure a certain sector of the curve. Calculating Arc Elasticity of Demand To calculate arc elasticity …
Definition: An arithmetic mean is a simple raw average. It is the total sum divided by the quantity. It is sometimes known as an unweighted average Calculating an Average For example (1, 2, 2, 2, 3, 9). The arithmetic mean is 19/6 = 3.17 Arithmetic means are used in situations such as working out cricket …
The Asian financial crisis of 1997 refers to a macroeconomic shock experienced by several Asian economies – including Thailand, Philippines, Malaysia, South Korea and Indonesia. Typically countries experienced rapid devaluation and capital outflows as investor confidence turned from over-exuberance to contagious pessimism as the structural imbalances in the economy became more apparent. The crisis of ’97-99 …
An assembly line is a process of production which enables a continuous efficient rolling process. Usually, it involves a good, such as a car, moving along a conveyor belt. As it moves slowly along, workers add different parts to the car. Economies of scale and assembly lines Assembly lines enable economies of scale from the …
People demand money for different reasons. The asset motive states that people demand money as a way to hold wealth. In a period of inflation,the value of money declines and therefore there is unlikely to be an asset motive for money. However, in a period of deflation, money increases in value and therefore there may …
Assets are items that give real value to a firm or an investor. Assets can be real assets such as land, houses, machines or capital. Financial assets include money, bonds and securities. Intangible Assets: Assets can also be intangible. For example, a company may have a loyal workforce or they may have a recognisable brand. …
Definition of Asset Stripping. Asset stripping refers to people selling off parts of a company to raise money. Asset stripping is often thought of in a negative way. For example, an under-performing company may be bought by private equity investors. They sell of the profitable aspects of a business and then close down the rest, …