LEONID VITALIYEVICH KANTOROVICH
A Russian mathematician and economist who received the Nobel Prize in Economics, together with Tjalling Koopmans, for his research on optimum allocation of resources. In his book The Best Use of Economic Resources, published in 1959, he described optimal ways to deal with problems of centrally planned economies; planning, pricing, and decision making to name a few. He has notable contributions on functional analysis, approximation theory, and operator theory; and originated the linear programming technique. He also observed the complexity of stabilization policy.
POPULAR TERMS
Unilateral Contract
Unilateral Contract is a legally enforceable agreement between legally competent parties to do or refrain from doing a particular act or acts.
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Circular Flow of Income
Neoclassical economic model describing how money circulates throughout an economy, between individuals and businesses. In simplest terms, the econo ...
Menu Costs
An economic term used to denote the fees incurred by businesses in updating its menu or price sheet. How expensive it is to change prices depends o ...
Non-Operating Expense
Expenses incurred by activities that are not related to the main operations of a business.
Underwriting Standard
Underwriting Standard is a set of rules designed to ensure that only safe and secure loans are being issued or maintained.
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 01:01 | BRC Retail Sales Monitor | Sep | |
| 01:50 | Bank Lending | Sep | |
| 01:50 | Domestic Corporate Goods Price Index | Sep | |
| 02:30 | NAB Business Confidence | Sep | |
| 02:30 | Monetary Policy Meeting Minutes | ||
| 08:00 | CPI | Sep | |
| 08:00 | Harmonized CPI | Sep | |
| 12:00 | NFIB Small Business Index | Sep | |
| 16:00 | Existing Home Sales | Sep |
