Archives: Terms

Definition of Abatement Cost Abatement cost refers to the cost associated with reducing or eliminating negative environmental externalities, such as pollution. These are the expenses that businesses or governments incur to comply with environmental regulations and standards, aimed at achieving a cleaner environment. Abatement costs can include a wide range […]

Definition of AAA Rating AAA rating is the highest credit rating assigned by credit rating agencies to an issuer’s bonds or debt instruments. It signifies that the bonds are of the highest quality, with an exceptional degree of creditworthiness. This rating indicates that the issuer’s ability to meet its financial […]

Definition of A-share A-shares refer to shares of mainland China-based companies that are traded on the Chinese stock exchanges such as the Shanghai Stock Exchange and the Shenzhen Stock Exchange. These shares are denominated in Renminbi (RMB) and were historically available for purchase mainly by mainland Chinese investors. However, over […]

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Definition of Zero-Sum Game A Zero-sum game is a situation in mathematical game theory where one participant’s gain (or loss) is exactly balanced by the losses (or gains) of the other participant(s). It means that the total amount of value or wealth in the game remains constant, but its distribution […]

Definition of Zelder Paradox The Zelder Paradox, named after economist Melvin Zelder, is a theoretical concept in the field of family economics that challenges conventional wisdom about the impact of no-fault divorce laws on the rate of divorce. According to the paradox, the introduction of no-fault divorce laws—laws that allow […]

Definition of Yield Yield is a financial term referring to the earnings generated and realized on an investment over a particular period. It is typically expressed as a percentage, based on the investment’s cost, its current market value, or its face value. Yield is a key measure of return on […]

Definition of X-Inefficiency X-inefficiency occurs when a firm operates with higher costs than are necessary for producing its output due to a lack of competitive pressure. This concept suggests that companies do not always utilize their resources in the most efficient way possible, leading to wasted or underutilized inputs. X-inefficiency […]

Definition of Wright’s Law Wright’s Law, often mentioned in the context of technological advancement and cost dynamics, posits that for every cumulative doubling of units produced, costs fall by a consistent percentage. This principle, also known as the “learning curve” or “experience curve,” suggests that the more a company produces, […]

Definition of Workforce Productivity Workforce productivity refers to the amount of goods and services that a group of workers produces in a given amount of time. It’s commonly measured as the output per worker or output per hour worked. This metric is crucial for understanding the efficiency and effectiveness of […]