Archives: Terms

Definition of Strike Ballot A strike ballot is a formal voting process where members of a labor union cast their votes to decide whether or not to go on strike. This democratic procedure ensures that all union members have a say in such a critical decision, which significantly impacts both […]

Definition of Strike A strike is a collective action undertaken by workers to cease work in order to press for better working conditions, wages, or other labor-related issues. It is often organized by labor unions and serves as a bargaining tool in negotiations with employers. Typically, strikes occur when negotiations […]

Definition of Strengthening of a Currency The strengthening of a currency, also referred to as currency appreciation, occurs when a currency increases in value relative to another currency in the foreign exchange market. This rise in value means that the currency can buy more of a foreign currency than before. […]

Definition of Stratified Sample A stratified sample is a type of sampling method used in statistics where the population is divided into distinct subgroups, known as strata, that share similar characteristics. A random sample is then taken from each subgroup in a way that ensures each subgroup is fairly represented […]

Definition of Strategy Strategy is the comprehensive plan or set of actions designed to achieve long-term objectives and goals. It encompasses all the intentional choices an organization or individual makes to allocate resources and succeed in their environment. A well-crafted strategy considers internal strengths and weaknesses, external opportunities and threats, […]

Definition of Strategic Voting Strategic voting occurs when voters cast their ballots for a candidate or party not as a genuine preference, but rather as a calculated move to achieve a desired outcome or prevent an undesirable one. Instead of voting for one’s sincere first choice, strategic voters select a […]

Definition of Strategic Trade Retaliation Strategic trade retaliation refers to the set of actions taken by a country to respond to protectionist trade policies imposed by another country. These retaliatory measures aim to counteract the negative impact of tariffs, quotas, or other trade barriers placed by a trading partner. The […]

Definition of Strategic Trade Policy Strategic Trade Policy refers to government interventions designed to alter the competitive balance between domestic firms and their international competitors. These policies typically aim to support domestic industries that have the potential to become globally competitive, especially in markets characterized by significant economies of scale […]

Definition of Strategic Interaction Strategic interaction refers to scenarios in which individuals, firms, or other entities make decisions by considering the potential reactions and decisions of others. This concept is fundamental in economics and game theory, as it highlights how the outcome for each participant depends not just on their […]

Definition of Strategic Entry Deterrence Strategic Entry Deterrence refers to tactics that incumbent firms use to prevent or discourage new competitors from entering a market. These strategies are deliberately employed to maintain the firm’s dominance and protect its market share. By establishing barriers to entry, the incumbent firm can sustain […]