Archives: Terms

Definition of Tennessee Valley Authority The Tennessee Valley Authority (TVA) is a federally owned corporation established in 1933 during the Great Depression as part of President Franklin D. Roosevelt’s New Deal. The TVA was created to address a range of issues in the Tennessee Valley, such as flooding, providing electricity […]

Definition of Tender Issue A tender issue, also known as a rights issue or an offer for sale by tender, is a method used by companies to raise additional capital by offering existing shareholders the right to purchase additional shares at a discounted price before the new shares are offered […]

Definition of Tender Tender refers to an offer made by an individual or entity to execute work, provide goods, or supply services at a specified price. Tenders are an essential part of procurement processes, especially in both public and private sectors where competitive bidding is encouraged to ensure the best […]

Definition of Temporary Equilibrium Temporary equilibrium refers to a short-term state where supply and demand match in a market, but this balance is expected to change due to external factors or temporal dynamics. Unlike a long-term or general equilibrium, temporary equilibrium does not necessarily represent a stable condition where all […]

Definition of Temporary Assistance to Needy Families (TANF) Temporary Assistance to Needy Families (TANF) is a federal assistance program in the United States designed to help low-income families achieve self-sufficiency. Established in 1996 as part of the Personal Responsibility and Work Opportunity Reconciliation Act, TANF provides temporary financial aid and […]

Definition of Technology Transfer Technology Transfer refers to the process by which technology, knowledge, skills, or innovations developed in one place or for one purpose are transferred to other individuals, businesses, or regions for a new purpose or to enhance existing processes. This can occur within an organization, from one […]

Definition of Technology Gap The technology gap refers to the disparity between countries, organizations, or individuals in terms of technological capabilities and infrastructure. It highlights the differences in access to, use of, and ability to develop and maintain technologies. This gap can lead to significant variations in productivity, economic growth, […]

Definition of Technology Technology refers to the application of scientific knowledge for practical purposes, especially in industry. In essence, it encompasses all tools, machines, systems, and processes used to solve real-world problems, enhance efficiency, and improve quality of life. Technology spans various domains, including information technology, biotechnology, nanotechnology, and more, […]

Definition of Technological Unemployment Technological unemployment refers to the loss of jobs caused by technological improvements and advancements. As new technologies are introduced, certain tasks that were previously performed by humans can be automated, rendering some jobs obsolete. This kind of unemployment is a form of structural unemployment, which occurs […]

Definition of Technical Substitution Technical substitution refers to the process of replacing one factor of production, such as labor or capital, with another factor that can perform the same function but potentially at a lower cost or higher efficiency. This substitution occurs within the context of the production process and […]