Archives: Terms

Definition of Syndicate (at Lloyd’s) A syndicate at Lloyd’s refers to a group of insurers or underwriters who come together to spread the risk associated with offering insurance coverage. This collaborative arrangement allows for the pooling of resources and expertise, helping to underwrite insurance policies that one entity might find […]

Definition of Symmetrical Distribution A symmetrical distribution is a type of probability distribution in which values are evenly distributed around the mean. When divided in half, the left and right sides of the distribution mirror each other. In a perfectly symmetrical distribution, the mean, median, and mode are all the […]

Definition of Sweated Labour Sweated labour refers to a working environment where employees are subjected to poor working conditions, low wages, long hours, and often harsh or unsafe environments. These working conditions are typically characterized by lack of regulatory protections and exploitation of workers, often in industries such as garment […]

Definition of Swap A swap is a derivative contract through which two parties exchange financial instruments. These agreements are typically based on a notional principal amount that both parties agree to, and the exchanges can be in the form of cash flows, interest rates, currencies, commodities, or other financial instruments. […]

Definition of Sustained Yield Sustained yield refers to the rate at which a resource can be harvested or used without compromising its long-term availability. This concept is often applied in natural resource management, particularly in forestry and fisheries, where it is crucial to ensure that the extraction of resources does […]

Definition of Survey of Current Business The Survey of Current Business is a monthly publication by the United States Bureau of Economic Analysis (BEA) that provides detailed economic data and analysis. This extensive report covers various facets of the U.S. economy, including national income, product accounts, international trade, and industry-specific […]

Definition of Survey Data Survey data is information collected from a predefined group of respondents using a structured questionnaire or interview process. The purpose of gathering survey data is to gain insights into the views, behaviors, or characteristics of a particular population. Surveys can be conducted via various methods, including […]

Definition of Surtax A surtax is an additional tax levied on an existing tax. This means it is assessed on the amount of another tax, rather than on an individual’s or company’s income or property directly. Surtaxes are often used to raise additional revenue for specific purposes, such as funding […]

Definition of Surplus Value Surplus value is a concept in Marxist economics that refers to the difference between the value produced by labor and the actual wage paid to the laborer. In simpler terms, it is the excess value generated by workers beyond what is necessary to meet their own […]

Definition of Supply-Side Policy Supply-side policy refers to governmental actions aimed at influencing economic growth by increasing the productivity and efficiency of the overall economy. These policies focus on enhancing the supply of goods and services through various measures such as reducing taxes, decreasing regulations, promoting competitive markets, and improving […]