Archives: Terms

Definition of Queue A queue, in the context of economics and business, refers to a line or sequence of people or items waiting to be attended to, processed, or moved forward. This concept is widely used in operations management and service industry contexts to manage the flow of customers or […]

Definition of Quasi-Rent Quasi-rent refers to the earnings of a factor of production that arise due to temporary differences between its marginal revenue product and its opportunity cost. This concept is often associated with specific investments that cannot be immediately repurposed for alternative uses, meaning that in the short run, […]

Definition of Quasi-Fixed Factors Quasi-fixed factors are resources or inputs in the production process that entail fixed costs over a certain range of output levels but variable costs beyond that range. Essentially, these factors are partially fixed and partially variable, making them unique in their role within the production process. […]

Definition of Quasi-Autonomous Non-Government Organization (QUANGO) A quasi-autonomous non-government organization (QUANGO) is a type of body that operates independently of government control but is nonetheless supported by the government in some manner. This support can take the form of funding, oversight, or legislative backing. QUANGOs are set up to perform […]

Definition of Quartile Quartiles are statistical values that divide a data set into four equal parts. Each quartile represents a subset of data and helps to understand the distribution and dispersion of the data. There are three main quartiles: the first quartile (Q1), the second quartile (Q2), also known as […]

Definition of Quarterly Data Quarterly data refers to information or statistics that are collected, reported, or analyzed on a three-month basis. This type of data is particularly common in the realms of finance, economics, and business reporting. Each year is divided into four quarters: Q1 (January to March), Q2 (April […]

Definition of Quantity of Money The quantity of money, also referred to as the money supply, represents the total amount of monetary assets available in an economy at a specific time. It encompasses various forms of money, including cash, coins, and balances held in checking and savings accounts. Economists typically […]

Definition of Quantity Discount Quantity discount refers to the price reduction offered to buyers when they purchase goods or services in large amounts. This type of discount incentivizes buyers to buy in bulk, which helps sellers achieve higher sales volumes and reduce per-unit costs. These discounts can be provided for […]

Definition of Quantile Quantile is a statistical concept that refers to the values that divide a dataset into equal-sized subsets. Essentially, if you have a dataset, a quantile generates segments containing an equal number of data points. Common quantiles include quartiles, quintiles, deciles, and percentiles. Quantiles are useful in statistics […]

Definition of Quango Quango stands for “Quasi-Autonomous Non-Governmental Organization.” It refers to a hybrid body that is funded and regulated by the government but operates independently. These organizations often carry out specific government functions or provide public services. Quangos play crucial roles in sectors such as health, education, environmental regulation, […]