JOSEPH SCHUMPETER
An Austrian American economist and political scientist. Being one of the 20th century’s great economic and political thinkers, Schumpeter is well-known for his theory that explains the activities that result to economic growth in capitalist economist. The theory also focuses on entrepreneurial innovations and its role as the major driver of economic growth. He argues competition among market participants leads to a desire to look out for new ways to develop technology, do business and other kinds of advantages that would raise profit margins and directly affect the businessman’s standard of living.
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Liquidity Adjustment Facility
A tool in monetary policy where banks are allowed to borrow money through repurchase agreements, and to respond to liquidity pressures. The governm ...
Data Warehousing
Electronic storage of information in a business or corporation. It should be secure, reliable and easy to retrieve and manage. It originated in 198 ...
One-Tailed Test
A statistical test where the critical area of a circulation is one-sided so that it is either less than or greater than a specific value, but not b ...
Less-than-Truckload
A shipping service that carries small loads of freight, weight between partial and full truckload. The service is being offered by many large and n ...
Original Cost
It simply refers to the total cost associated in buying an asset.
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