The fundamental wage rate paid to employees, excluding additional compensations like bonuses, overtime, and premiums.
Basis Points (bps) are a unit of measure commonly used in finance to describe interest rates, yield spreads, and other percentages. Each basis point is equivalent to 0.01% (1/100th of a percent).
Understanding Batch Processing in Production
An in-depth look into batch costing, a method where unit costs are calculated based on a batch of production. It's useful for situations where individual unit costing is impractical.
An in-depth exploration of BATNA, its significance in negotiations, and how to effectively determine and use it.
A two-player game that illustrates the gains that can be obtained from coordination and the difficulties of achieving coordination. Typically, it involves a scenario where two players must choose between two options with different preferences but a mutual desire to coordinate.
An exploration of Baumol's Law, which asserts that the public sector grows as a proportion of the economy over time due to labour intensity and productivity constraints.
Bayesian Econometrics is an approach in econometrics that uses Bayesian inference to estimate the uncertainty about parameters in economic models, contrasting with the classical approach of fixed parameter values.
The BCEAO is responsible for issuing the West African CFA Franc and conducting monetary policy for the WAEMU states.
The term 'Bean Counters' refers to accountants, often used in a derogatory sense to depict their meticulous attention to detail in financial records.
An in-depth look at before-tax income, its calculation, significance, and impact on financial planning.
An economic policy aimed at benefiting one country at the expense of others, often through measures like tariffs, quotas, or currency devaluation. Known as 'beggar-thy-neighbour' as well.
Behavior refers to the actions and reactions exhibited by individuals, entities, or systems in response to external or internal stimuli. It encompasses a wide array of activities influenced by biological, psychological, and environmental factors.
Behavioral Segmentation is a marketing strategy that involves dividing a market into distinct groups based on consumer behaviors, needs, and purchasing patterns.
An approach to economic analysis that incorporates psychological insights into human behaviour to explain economic decisions.
A comprehensive overview of behavioural equations, their historical context, key events, types, importance, and applicability in various fields.
An in-depth study of behavioural finance, examining the psychological factors influencing financial decisions and market outcomes.
The Behavioural Insights Team, also known as the 'Nudge Unit', is a social purpose company formerly part of the UK government. This team utilizes behavioural sciences to design cost-effective public policies aimed at inducing desirable behavioural responses and facilitating better individual choices.
An exploration of theories of firm behaviour that consider the objectives of individuals and groups within firms, diverging from traditional profit maximization models.
Comprehensive coverage of the Department for Business, Energy and Industrial Strategy (BEIS), its history, functions, and importance.
The benchmark interest rate is a standard interest rate set by central banks or financial authorities that serves as a reference point for determining other interest rates. It influences various economic activities and financial instruments, including loans, mortgages, and bond yields.
An in-depth exploration of Benchmark Rate - a reference interest rate upon which floating rate notes (FRNs) and other financial instruments are based, serving as a standard measure for other interest rates.
Benchmark rates serve as a reference point to set the terms for various financial instruments, influencing interest rates on loans, bonds, and other financial products.
A comprehensive definition and analysis of a benefactor, including its significance in various fields such as philanthropy, social sciences, and economics.
Beneficiaries are individuals or entities that receive benefits, often financial, from a trust's profit. This entry explores their roles, types, rights, and the legal framework surrounding beneficiaries.
An in-depth exploration of the concept of Benefit Caps, including historical context, types, key events, detailed explanations, importance, and applicability.
A comprehensive outline of benefit plans, detailing the variety of benefits provided to employees including health insurance, retirement savings, and others.
The Benefit Principle suggests that the cost of public expenditures should be met by those who benefit from them. It faces challenges in application, especially for non-excludable public goods and economically disadvantaged groups.
An in-depth look at the Benefit Rate, the percentage of earnings used to calculate retirement benefits, including examples, types, historical context, and related terms.
An in-depth examination of Benefit-Cost Ratio, its historical context, calculation methods, importance, applicability, examples, and related concepts in finance and economics.
A comprehensive exploration of different types of benefits including defined benefit, fringe benefits, housing benefit, marginal benefit, means-tested benefits, sickness benefit, social security benefits, supplementary benefit, unemployment benefit, and universal benefit.
A detailed exploration of benefits other than cash arising from employment, including historical context, valuation rules, reporting requirements, and key considerations.
An in-depth examination of government provision of goods and services as a means of supporting citizens, comparing it with monetary assistance.
An in-depth exploration of the benefits system that provides income and services to maintain welfare standards for a country's residents.
A detailed exploration of BENELUX, its historical context, key events, and significance in European integration.
Base Erosion and Profit Shifting (BEPS) refers to tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations, thereby eroding the tax base of high-tax jurisdictions.
An in-depth exploration of the Bergson-Samuelson Social Welfare Function, its historical context, applications in welfare economics, and its implications in policy-making.
The Department for Business, Enterprise and Regulatory Reform (BERR) was a UK government department responsible for business, enterprise, and regulatory affairs, and it was one of the predecessors of the Department for Business, Innovation and Skills (BIS).
An overview of Bertrand competition, its historical context, types, key events, mathematical models, importance, applicability, and more.
Betterment involves the replacement of a major item of plant or machinery by one that provides better performance, leading to capital expenditure. This concept is significant in the fields of economics, finance, and business management.
An in-depth look at Betting Duty, its historical context, types, key events, calculations, and significance in the world of finance and gambling.
A detailed exploration of the Beveridge Curve, showcasing the relationship between unemployment and job vacancies, its historical context, key events, mathematical models, and much more.
The Beveridge Report was a groundbreaking document on social security prepared by Sir William Beveridge in 1944, which laid the foundation for the post-war welfare state in the United Kingdom.
An in-depth exploration of bids in the financial market, including types, historical context, key events, and applications.
A comprehensive overview of BID, covering definitions, types, historical context, key events, mathematical models, importance, examples, and related terms.
Bid Increment refers to the minimum amount by which bids must increase in auctions or bidding processes, ensuring bidding increments are standardized.
A comprehensive guide to understanding Bid Proposals, their importance, components, types, and best practices.
An in-depth look at Bid Rigging, where competing parties collude to undermine the principles of open bidding. Explore its historical context, types, key events, models, charts, importance, and more.
Bid Security is a financial guarantee that ensures a bidder will honor their bid if selected. It provides protection to the project owner against the risks of bid withdrawal or bidder non-compliance.
The Bid-to-Cover Ratio is a critical measure of demand in auctions, representing the ratio of total bids received to the amount offered.
A comprehensive overview of bidders, including historical context, types, key events, explanations, models, charts, applicability, examples, considerations, related terms, comparisons, facts, stories, quotes, expressions, jargon, slang, FAQs, references, and summary.
The Big Bang refers to the radical transformation of the London Stock Exchange (LSE) on 27 October 1986, which included the abolition of fixed commission rates and the separation between jobbers and brokers, facilitating the globalization and modernization of the LSE.
The term 'Big Bang' refers to the view that reforms should be carried out as rapidly as possible, contrasting with gradualism. It also refers to the major change to trading practice on the London Stock Exchange in 1986.
Exploring the history, significance, and current status of the Big Four in banking and accounting.
An in-depth exploration of the Big Mac Index, a light-hearted yet informative tool introduced by The Economist to measure purchasing power parity and assess the real value of currencies.
An exploration of the Big Push theory, its historical context, key events, models, and implications in development economics.
An in-depth look at Big-Box Retailers, their historical context, categories, key events, and much more.
A comprehensive guide to understanding Big-box Stores, their definition, characteristics, historical context, and significance in the retail industry.
A comprehensive look into bilateral agreements, their historical context, types, key events, detailed explanations, and significance in global trade.
Bilateral aid refers to direct financial assistance from one government to another, aiming to support development projects, economic growth, and political stability.
A detailed explanation of the bilateral exchange rate, its significance, applications, and examples in international finance.
Explore the concept of a Bilateral Monopoly, a unique market structure characterized by a single buyer and a single seller, with insights into its economic implications and practical examples.
A comprehensive exploration of bilateral monopoly, where a single buyer faces a single seller, examining its implications, history, and key concepts.
An in-depth examination of bilateral trade, its mechanisms, advantages, disadvantages, and its comparison with multilateral trade.
A comprehensive guide to bilateral trade agreements, including their history, types, key events, importance, and more.
Bilateral Transfer involves a reciprocal exchange where both parties provide something of value. This term is commonly seen in trade agreements between countries.
An in-depth look at bilateralism, which encompasses economic and diplomatic agreements between two countries, including historical context, key events, and its significance.
Bilking refers to the act of avoiding payment for services, commonly associated with food establishments but applicable to hotels, transportation, and other service-oriented industries.
A comprehensive article covering the various aspects of a bill, including its historical context, types, key events, and practical applications.
An in-depth look at the Bill of Entry, a critical document in international trade, outlining the nature and value of consignments for customs purposes.
A comprehensive article on Bills of Exchange, their historical context, types, key events, and importance in facilitating international trade.
A comprehensive examination of the Bill of Sale, a crucial legal document for the transfer of ownership of goods and property. Understand its history, types, key events, detailed explanations, mathematical models, and more.
An in-depth look into billable hours, their historical context, significance in various industries, and practical considerations.
The term 'billion' represents a large number, specifically one thousand million (10^9^). It was previously defined differently in the USA and the UK.
Comprehensive look into the term 'Billion,' its historical context, current usage, and mathematical implications.
Bills Receivable refer to an item in a firm's accounts under current assets, summarizing the bills of exchange being held until the funds become available when they mature. Learn more about their historical context, key events, importance, and examples.
A detailed explanation of Buy-In Management Buy-Out (BIMBO), including historical context, types, key events, formulas, examples, related terms, and more.
An in-depth look at binary choice models used to analyze decision-making processes involving two distinct alternatives.
Comprehensive explanation of Biological Assets, their accounting treatment, types, and importance.
A rate of interest that aligns with the growth rate of population in an overlapping generations economy, optimizing consumption between generations.
The Department for Business, Innovation and Skills (BIS) was a UK government department responsible for economic growth, business regulations, innovation, and skills development.
A deep dive into the world of classified government funds allocated for secret operations and projects, known as the black budget.
An in-depth exploration of the black economy, covering historical context, key events, implications, and associated terminology.
A comprehensive guide to understanding the Black Economy, its historical context, types, key events, explanations, and more.
A comprehensive overview of black markets, their historical context, types, key events, importance, applicability, related terms, and more.
A comprehensive overview of black markets, where trading violates rationing or price control laws.
A comprehensive exploration of the Black Swan phenomenon in risk management, including its historical context, types, key events, detailed explanations, and more.
An in-depth exploration of the Black Swan theory, its historical context, types, key events, mathematical models, and significance in various fields.
Black Swan Events are rare, unpredictable events with dramatic effects, which are often embedded within the tails of distributions. This term is crucial in understanding extreme risk and uncertainty in various fields such as Finance, Economics, and beyond.
An in-depth exploration of the Black-Scholes equation, used for pricing financial options, including its historical context, mathematical formulation, importance, and applications.
An in-depth analysis of the Blair House Agreement concluded between the European Community (EC) and the United States in November 1992 to liberalize international trade in agricultural products and reduce subsidized food exports.
A thorough exploration of the concept of Blanket Rate, its historical context, types, key events, detailed explanations, applications, and related terms in production and cost management.
A block grant is a form of financial aid provided to an organization in the public sector, allowing them flexibility in determining how to spend the grant. These grants enable efficient resource allocation, tailored to meet specific local needs and priorities.
A comprehensive guide on the UK Blue Book, an annual publication by the Office for National Statistics detailing national income and expenditure data.
An in-depth exploration of blue collar workers, their historical context, types, key events, importance, and more.
Comprehensive overview of Blue-Collar workers, their roles, types of work, historical context, and societal impacts.
Comprehensive overview of Blue-Sky Laws including their historical context, types, key events, importance, applicability, related terms, interesting facts, and FAQs.
Bodegas are small, often family-owned Hispanic grocery stores located in urban areas, providing a variety of everyday essentials and culturally specific products.
BOE, or Barrel of Oil Equivalent, is a unit of energy based on the approximate energy released by burning one barrel (42 U.S. gallons) of crude oil. It is used to aggregate oil and natural gas.
A comprehensive look into boiler room operations, fraudulent securities selling over the phone, and how investors can protect themselves.
