The balance sheet reports information as of a date (a point in time). The income statement, statement of cash flows, […]

A year as reckoned for taxing or accounting purposes.

The sale of something at a very low price because of the seller’s urgent need for money.

Economic organization in which private owners of capital goods hire and direct labour to produce goods and services for sale […]

Something that a person owns or can do that has more value in the individual’s current firm than in their […]

The fixed costs of the production of a knowledge-intensive good or service.

The strategic benefit acquired from acting before any potential rival. The term is typically used when referring to the entrance […]

The ability of a government to impose and collect substantial taxes from a population at low administrative and other costs. […]

The total (direct and indirect) change in output caused by an initial change in government spending. See also: fiscal stimulus, […]

Changes in taxes or government spending in order to stabilize the economy. See also: fiscal stimulus, fiscal multiplier, aggregate demand.