The process of comparing the amounts in the Cash account in the general ledger to the amounts appearing on the […]

The process of comparing the amounts in the Cash account in the general ledger to the amounts appearing on the […]

The inability to pay off debts with existing assets.

The difference between the real wage that firms wish to offer in order to provide workers with incentives to work, […]

The extent of a person’s advantage in securing a larger share of the economic rents made possible by an interaction.

Something that prevents new competition in a marketplace. Examples include: high fixed cost investments, red tape and switching costs.

Something that prevents a producer from exiting a marketplace.

Cash held by households, firms, and banks, and the balances held by commercial banks in their accounts at the central […]

Set each month by the Bank of England, this is the country’s base rate of interest. This influences financial products […]

Assets = Liabilities + Owner’s Equity. For a corporation the equation is Assets = Liabilities + Stockholders’ Equity. For a […]