- Industry: Education
- Number of terms: 31274
- Number of blossaries: 0
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A statement of principle as to acceptable behavior. For example, members of the International Labor Organization have agreed to a long list of conventions regarding the acceptable treatment of workers.
Industry:Economy
A currency that can legally be exchanged for another or for gold. In times of crisis, governments sometimes restrict such exchange, giving rise to black market exchange rates.
Industry:Economy
1. Said of a curve that bulges toward some reference point, usually the horizontal axis or the origin of a diagram. More formally, a curve is convex from below (or convex to something below it) if all straight lines connecting points on it lie on or above it. Contrasts with concave. 2. Said of a set that contains all straight line segments joining points within it.
Industry:Economy
A financial institution created to "promote and foster the integration of the Andean region. " It acts as a development bank for Latin America.
Industry:Economy
A tax on the profits of corporations. Differences in corporate tax rates across countries can be a cause of foreign direct investment as well as transfer pricing.
Industry:Economy
A measure of the extent to which two economic or statistical variables move together, normalized so that its values range from -1 to +1. It is defined as the covariance of the two variables divided by the square root of the product of their variances. The correlation is used in trade theory to express weak relationships among economic variables.
Industry:Economy
A theoretical property of models with arbitrary numbers of goods or other variables that takes the form of a correlation among variables rather than a strict prediction for each one. Thus represents a weaker average relationship among the variables. Used for comparative advantage and other properties of trade models in higher dimensions.
Industry:Economy
A function relating the minimized total cost in a firm or industry to output and factor prices.
Industry:Economy
A partnership agreement between the EU and the ACP Countries signed in June 2000 in Cotonou, Benin, replacing the Lomé Convention. Its main objective is poverty reduction, "to be achieved through political dialogue, development aid and closer economic and trade cooperation. "
Industry:Economy
A tariff levied against imports that are subsidized by the exporting country's government, designed to offset (countervail) the effect of the subsidy.
Industry:Economy
