An Incomes Policy refers to government measures to control wages, prices, and costs, typically imposed to address high levels of inflation.
A comprehensive examination of inconvertible money, currency that cannot be exchanged for precious metals or other commodities. This entry explores its characteristics, historical context, and modern implications.
An in-depth explanation of increasing costs, a phenomenon where the per-unit cost of production rises as the quantity of output grows.
Increasing Returns to Scale (IRS) is an economic concept where a production process becomes more efficient as the scale of production increases, resulting in decreasing marginal costs.
Incremental Analysis is a decision-making method that utilizes the concept of relevant cost, also known as the relevant cost approach or differential analysis. This method involves gathering all costs associated with each alternative, dropping sunk costs, ignoring costs that do not differ between alternatives, and selecting the best alternative based on the remaining cost data.
An in-depth exploration of Incremental Cost of Capital and its implications in finance and investment decisions. See Marginal Cost.
An independent contractor is a self-employed individual who provides services to another entity under terms specified in a contract or within a verbal agreement.
Comprehensive definition of an Independent Producer in the context of the oil market, including applicable tax considerations and percentage depletion rate.
Comprehensive Definition and Context of 'Independent Store': Classification, Retail Dynamics, and Contextual Significance.
A comprehensive look into Indexes, their formation, applications, and significance in economics and finance, including their impact on contracts and adjustments.
Index Basis refers to a comparative calculation technique that defines the relationship between two or more values by designating one value as the standard with a value of 100 and expressing all other values as a percentage over or under this base standard of 100.
The Index of Leading Indicators is a composite index used to predict the future direction of the economy. It includes various economic factors like unemployment insurance claims and new building permits that typically change before the economy as a whole changes.
Detailed exploration of Indexation – the process of adjusting economic variables based on specific indicators, typically to inflation. Includes examples such as Federal income taxes and prevention of bracket creep.
The process of aligning investments or financial figures, like portfolios and wages, with a specific index, such as the S&P 500 or Consumer Price Index (CPI).
Indifference Curve: A comprehensive overview of graphical representations showing combinations of goods providing equal satisfaction to consumers.
An Indifference Map is a crucial concept in economics that graphically represents a series of indifference curves, each illustrating different combinations of goods that provide equivalent levels of satisfaction to the consumer.
A comprehensive definition of indirect cost in the context of manufacturing, exploring its components, applications, examples, and distinctions from direct costs.
A comprehensive examination of indirect labor, focusing on its definition, types, implications in manufacturing, and relationship with indirect costs.
A comprehensive explanation of Indirect Production, focusing on the production of items required for the manufacture of major goods or services.
An in-depth understanding of the classification of industries, focusing on companies that produce and distribute goods and services, excluding utilities, transportation companies, and financial service companies.
An industrial consumer refers to an entity that uses industrial products for operational purposes rather than personal consumption. This term is often used informally within the industry to distinguish one type of user from another.
Comprehensive guide on Industrial Distributors, their role in supply chains, key characteristics, and industry impact.
Comprehensive definition of industrial goods, their types, examples, historical context, and applicability in various sectors.
An Industrial Park is a designated zone designed and zoned for manufacturing and associated activities, offering specialized infrastructure, services, and regulatory ease to facilitate industrial operations.
Industrial Production is a monthly statistic released by the Federal Reserve Board (FRB), detailing the total output of all U.S. factories and mines. It serves as a key economic indicator.
Comprehensive guide to various types of properties used for industrial purposes, including factory-office, factory-warehouse multiuse properties, heavy and light manufacturing buildings, industrial parks, and R&D parks.
Industrial unions bring together workers from different crafts within the same industry under one union, a concept notably utilized by the CIO to organize large corporations like General Motors, U.S. Steel, and Ford.
An industrialist is an individual involved in the business of industry, often associated with large-scale operations, trusts, and monopolies, notably emerging from the early industrial period.
Comprehensive overview of industries, encompassing definitions, types, historical context, and applicability within various segments such as the steel and automobile industries.
An industrial standard is a generally accepted requirement to be met for the attainment of a recurrent industrial objective, such as standardized tire sizes in the automotive industry.
A comprehensive guide to understanding market inefficiencies, their causes, and implications for investors.
An in-depth exploration of inelastic supply and demand within the framework of elasticity, encompassing definitions, formulas, types, examples, and related concepts.
Inelasticity refers to the characteristic of certain goods or services where the quantity demanded or supplied is relatively unresponsive to changes in price.
An analysis of the infant industry argument, reasons for protectionist policies, and implementation examples.
A comprehensive overview of Inferior Goods, their characteristics, examples, and economic implications.
Inflation Accounting addresses the impact of inflation on financial statements, offering a clearer view of a company's financial health. The Financial Accounting Standards Board (FASB) mandates major companies to provide supplementary information reflecting the effects of inflation.
A detailed guide on inflation rate, its significance in the economy, primary U.S. indicators such as the Consumer Price Index (CPI) and the Producer Price Index (PPI), historical context, and FAQs.
A detailed explanation of the inflationary gap, its causes, consequences, and related economic concepts.
An inflationary spiral refers to an episode of inflation in which price increases occur at an increasing rate, and currency rapidly loses value.
A comprehensive overview of infrastructure, its types, importance, and role in economic development.
Inherit refers to acquiring property or rights from a deceased person, either through a will (devise) or by descent from an ancestor via legal operation.
A comprehensive guide to understanding Input-Output Tables, their structure, uses, types, and applications in economic analysis.
An insider is a person whose opportunity to profit from their position of power in a business is limited by law to safeguard the public good. Both federal securities acts and state blue-sky laws regulate stock transactions of individuals with access to inside information about a corporation.
Understanding the concept of installment in general terms and its specific application in finance including how it works with debts, mortgages, and revolving credit.
A detailed exploration of the mathematical factor derived from compound interest functions to determine the level periodic payment needed to retire a $1 loan within a specific time frame.
Comprehensive coverage of intangible property, including its types, special considerations, examples, historical context, applicability, comparisons, related terms, and frequently asked questions.
Intangible Value refers to non-physical assets such as goodwill, trademarks, intellectual property, and patents, which are integral to a business's worth.
A detailed explanation of the method of reducing an employee pension based on Social Security the employee receives.
Forward Integration involves expanding the operational scope of a business to include activities closer to the final customer, such as a manufacturer establishing retail outlets.
Interest refers to the cost of using credit or another's money, commonly expressed as an annual rate, as well as a share, right, or title in property.
A comprehensive guide to understanding personal interest expense, its types, implications, and examples.
An in-depth exploration of interest rate swap agreements, their functioning, types, historical context, and practical applications.
The economic accrual of interest involves the calculation and understanding of interest cost for an indebtedness over a given period. This detailed entry covers the compounding process, methods of calculation, and its applications in financial accounting and tax deductions.
In-depth exploration of interindustry competition, where businesses from different sectors compete for the same market opportunities or contracts.
Intermediate Goods are materials that are transformed by production into another form. A detailed analysis, including examples, historical context, and applicability in economics.
The International Bank for Reconstruction and Development (IBRD), commonly known as the World Bank, primarily finances projects in developing nations. Established in 1944, the IBRD collaborates closely with the International Monetary Fund (IMF) to support economic development and reduce poverty.
An in-depth look at countries that might require participation in, or cooperation with, an international boycott, including definitions, history, legal considerations, and examples.
Explore the International Monetary Fund (IMF), its structure, roles, and impacts on the global economy. Understand its history, applications, and relevance in the 21st century.
The International Monetary Fund (IMF) is an international organization aimed at promoting global monetary cooperation, exchange rate stability, and providing financial assistance to countries.
An in-depth exploration of the International Monetary Market (IMM), a division of the Chicago Mercantile Exchange (CME) that specializes in trading futures in U.S. Treasury bills, foreign currencies, certificates of deposit, and Eurodollar deposits.
An in-depth examination of international reserves, their types, roles, historical development, and impact on global finance.
An International Union is a labor organization that maintains affiliated locals in multiple countries, promoting workers' rights globally.
An Overview of Interstate Commerce: Business Activity Among Different States, Including Transportation, Navigation, and Trade of Commodities
The Interstate Commerce Commission (ICC) was a regulatory body in the United States established in 1887 to oversee and regulate the railroad industry and later expanded to include other modes of transportation.
Intervention in Economics involves government actions aimed at influencing economic growth, the composition of the economy's output, and controlling inflation.
An in-depth guide to intrinsic value, including its definition, types, examples, historical context, and applicability in various fields.
Invention in economics refers to the creation of entirely new technologies and methods of production, distinguishing it from innovation, which focuses on the improvement of existing technologies and methods.
Inventory planning involves determining the quantity of inventory and its timing to align with production or sales needs. Effective inventory planning is crucial for minimizing costs and maximizing productivity.
An in-depth exploration of the Inverted Yield Curve, its implications, historical significance, and related concepts in finance and economics.
Comprehensive guide on the concept of investment, detailing different types, examples, and key considerations in the pursuit of income or capital gain.
An Investment Club is a group of individuals who pool their assets to make joint investment decisions, typically contributing a set amount of capital regularly and voting on investment choices.
A comprehensive overview of Investment Demand, exploring schedules of investment projects by firms and market demand for specific investment assets.
A detailed guide on Investment Income [Portfolio Income] including dividends, interest, and gains from the sale of investment property. Explore related concepts such as Investment Interest Expense and Kiddie Tax.
Investment Tax Credit (ITC) includes tax credits such as the Rehabilitation Tax Credit, the Business Energy Investment Credit, gasification, advanced coal, and the Reforestation Credit, which provide significant financial incentives for businesses and individuals making capital investments.
Investment-grade bonds are designated by rating agencies such as Standard & Poor's (S&P) as being in the top four credit quality categories (AAA to BBB) and are deemed suitable for purchase by institutional investors such as pension funds, insurance companies, and banks.
An Investor is a party who purchases an asset with the expectation of financial rewards. Typically, an investor exercises greater due diligence or conservatism than a speculator.
Understanding Adam Smith's Invisible Hand Doctrine and Its Significance in Free Market Economies
Involuntary Bankruptcy occurs when creditors petition the bankruptcy court to force a debtor into bankruptcy due to unpaid debts. It is an essential aspect of the Bankruptcy Act aimed at protecting creditors' rights.
A comprehensive explanation of Involuntary Conversion, including condemnation and sudden destruction by nature, with examples and relevant considerations.
Involuntary Exchange refers to scenarios where property is destroyed, stolen, condemned, or disposed of under threat, with the owner receiving compensation.
An Economic Argument by David Ricardo asserting that wages naturally gravitate towards the subsistence level of workers.
An in-depth exploration of the concept of Irrational Exuberance, its origins, implications, and effects on market dynamics, as introduced by Federal Reserve Chairman Alan Greenspan.
Irregulars are goods that do not meet the manufacturing specifications, which may affect their appearance but not their usability.
A comprehensive overview of the IS-LM model, an economic analysis developed by John Maynard Keynes, describing the interaction between the money market and the goods market.
An in-depth exploration of the term 'Issue', covering its definitions in finance, genealogy, and law.
An in-depth look into the life and role of itinerant workers who move continuously from job to job, often in agriculture.
Detailed explanation of the J-Curve phenomenon in economics, illustrating the expected turnaround in activities such as foreign trade.
Jawboning refers to attempts to persuade others to act in a certain way by using the influence or pressure of a high office. It often involves public criticism, such as that by federal administrations toward wage or price increases deemed unreasonable.
An in-depth look into the method of categorizing jobs into ranks or classes for work comparison and wage comparability.
A job lot refers to a form of contract that specifies the size of a production run needed to fulfill a job order. This term is commonly used in manufacturing to denote the quantity of items produced to meet a particular order's requirements.
A comprehensive overview of job security, its implications, and its importance in various professions and employment activities.
A jobber is a middleman role in the sale of goods, purchasing from wholesalers and reselling to retailers. Distinguished from brokers or agents, jobbers actually buy and resell goods. Learn about their functions, types, historical context, and related terms.
Comprehensive explanation of joint costs in production, their allocation methods, examples, and their relevance in various industries.
The Joint Economic Committee of Congress (JEC) is a combined House and Senate committee responsible for monitoring major economic issues and developments to keep Congress well-informed.
An in-depth exploration of joint fare and joint rate in transportation, including definitions, applications, historical context, and frequently asked questions.
Understanding Joint Product Costs and their Allocation in Manufacturing Processes
Judgment Proof refers to individuals who are legally shielded from creditor collection efforts due to insolvency or specific legal protections.
A comprehensive definition and overview of the role, responsibilities, and limitations of a junior partner in a firm.
An in-depth comprehension of just compensation, its deployment in eminent domain cases, and the calculation of fair market value.
An in-depth exploration of the concept of Justified Price, how it is determined, and its implications in various asset markets including stocks, bonds, commodities, and real estate.
