A Mutual Company is a corporation whose ownership and profits are distributed among its members in proportion to the business they conduct with the company. They include mutual insurance companies, mutual savings banks, and federal savings and loan associations.
Founded in 1895, the National Association of Manufacturers (NAM) represents manufacturers' interests in Washington, D.C., addressing national and international issues, legislation, administrative rulings, judicial decisions, and other legal matters impacting the industry.
A national brand is a product distributed, sold, and known nationally, often contrasted with store brands or generic products. Examples include Levi's for jeans.
NBER, based in Cambridge, Massachusetts, is a private, nonprofit organization dedicated to impartial economic research for policymakers, business professionals, and academia.
An in-depth look at the national debt, including its components, implications, historical context, and impact on the federal government's finances.
An in-depth exploration of National Income, including definitions, types, measurement methods, and its significance in economic analysis.
The National Quotation Bureau, now known as Pink Sheets LLC, is the publisher responsible for the compilation and dissemination of quotes for over-the-counter (OTC) securities, primarily known for their 'Pink Sheets'.
National Wealth refers to the aggregate value of all capital and goods possessed within a nation, encompassing tangible and intangible assets, resources, and properties.
Nationalization refers to the process through which a government takes control of privately-owned assets or operations, potentially with or without compensation to the affected company.
A detailed exploration of natural monopoly, a market structure where a single producer is the most efficient due to high fixed costs and economies of scale, commonly seen in utilities and other essential services.
Detailed explanation of the natural rate of growth, its calculations, and its importance in maintaining current employment and wages.
An in-depth explanation of the Natural Rate of Unemployment, how it relates to the Phillips Curve, and its implications for labor market equilibrium and inflation.
Detailed exploration of natural resources including their types, economic significance, management, and the concept of depletion.
A detailed overview of near money, including examples like government securities, bank time deposits, money market fund shares, and bonds close to redemption date.
An in-depth look into the concept of negative net worth, its implications, examples, causes, and strategies to overcome it.
A comprehensive overview of Negotiated Market Price, highlighting its significance in circumstances influenced by wartime restrictions, unexpected shortages, or natural monopoly situations.
An in-depth look into the negotiation process, its types, applicability, and related terms such as contracts, arbitration, and mediation.
A neighborhood store is a retail establishment embedded within a local community, specializing in catering to the specific tastes and needs of the surrounding neighborhood. These stores are vital for their personalized service and convenience.
Neoclassical Economics is a school of economic theory that flourished from about 1890 until the advent of Keynesian Economics. It asserted that market forces always would lead to efficient allocation of resources and full employment.
Nepotism refers to the practice of favoritism toward one's family in employment and economic policies, where firms give favored employment positions to family members and encourage business transactions with other family members. Though common in some areas, many U.S. businesses discourage nepotism in personnel practices.
Net Contribution is the excess of the selling price over the variable costs per unit, representing the residual positive effect from an action taken.
Net cost refers to the gross costs of purchasing an asset, adjusted for any income received. This concept is crucial for accurately determining the financial impact of investments and purchases.
Net Domestic Product (NDP) is the gross domestic product (GDP) less the depreciation of a country's capital goods. It indicates the economic obsolescence and the capital spending required to maintain the GDP.
A comprehensive overview of Net Economic Welfare (NEW), an alternative measure of economic 'well-being' that adjusts GDP by accounting for non-market 'problems' and benefits.
Detailed coverage of Net Income Per Share of Common Stock (EPS) including its definition, application, calculation, and its relation to Fully Diluted Earnings per Share.
An in-depth understanding of the effective interest rate on a loan which is calculated by dividing the interest by the proceeds received.
A comprehensive look at the New Deal, a collection of political and economic policies and programs promulgated by the first two administrations of President Franklin D. Roosevelt aimed at combating the economic miseries of the Great Depression.
An in-depth exploration of the economic theories developed in the 1970s that sought to address the limitations of Keynesian economics.
New Money refers to additional long-term financing provided to a company or government through new issues or issues exceeding the amount of a maturing issue or refunded issues.
The New York Cotton Exchange (NYCE) is a commodities exchange, now a subsidiary of the New York Board of Trade (NYBOT) since 1998, specializing in cotton futures and options contracts.
The New York Mercantile Exchange (NYMEX) is a leading commodity derivatives exchange, providing a platform for trading energy futures, options, and other commodity products.
A detailed explanation of no-growth economies characterized by little or no increase in Gross Domestic Product (GDP), with historical examples and implications.
A comprehensive guide to the no-strike clause in union agreements, its implications, and processes involving binding arbitration.
The Nominal Interest Rate is the rate of return on an investment that is unadjusted for the effect of inflation. It is distinguished from the real rate, which is the nominal rate less the rate of inflation.
A detailed exploration of nominal dollars, their significance, differences from real dollars, and practical applications in economic analysis.
An in-depth look at nominal wage, which evaluates wages without accounting for the current purchasing power. It explores the significance, examples, historical context, and related terms with definitions.
An in-depth exploration of Nonbusiness Income, its taxation implications, types, and related considerations in multistate corporations.
Nondurable goods, also known as soft goods or consumables, are products that are consumed or only usable for a short period before they get replaced. Common examples include food, beverages, and toiletries.
Nonforfeitable benefits in the context of pension and profit-sharing plans refer to benefits that are guaranteed to the employee regardless of length of service or performance requirements. This ensures financial security and loyalty from employees.
A comprehensive analysis of nonproductive activities and elements that do not contribute to the production of desired goods or outcomes. It covers the definitions, types, special considerations, examples, historical context, applicability, comparisons, related terms, frequently asked questions, and more.
A nonprofit organization is an association allowed to exist without paying income taxes, typically engaged in socially desirable activities. This guide provides a detailed understanding of nonprofit organizations, their benefits, requirements, and examples.
A nonrefundable fee or nonrefundable deposit is a charge for a product or service that will not be refunded if the product is returned or service declined; often used like a penalty charge in situations where people frequently back out of commitments.
Nonstore retailing encompasses various forms of retail sales without conventional store-based locations, including internet sales, vending machines, direct-to-home selling, telemarketing, catalog sales, mail order, and television marketing programs.
A comprehensive definition and exploration of normal goods, which are items for which demand rises as consumer income increases, under ceteris paribus conditions.
Normal price refers to the expected prevailing price in a market over the long term, influenced by various market conditions.
Normal Profit refers to the minimum profit necessary for a producer to remain involved in a particular industry in the long-term. It is a critical concept in economic theory that helps explain market entry and competition.
Learn about the normal retirement age, the earliest age at which an employee can retire without a penalty reduction in pension benefits after meeting specific criteria.
An in-depth exploration of Normative Economics, a branch of economics that evaluates economic fairness and guides policy based on subjective criteria and value judgments, a term notably elaborated upon by economist Milton Friedman.
In-depth exploration of the North American Free Trade Agreement (NAFTA), its historical context, key provisions, economic impacts, and its replacement, the USMCA.
The North American Free Trade Agreement, signed in 1993, redefined trade dynamics between the United States, Mexico, and Canada by eliminating tariffs and quotas on imports and agricultural products, facilitating investment, and addressing social issues like environmental concerns, labor abuses, and job retraining.
The North American Industry Classification System (NAICS) is a system for classifying business activities, developed jointly by the United States, Canada, and Mexico. It uses six-digit codes and replaces the U.S. Standard Industrial Classification (SIC) system. This framework is integral for measuring productivity, constructing input-output relationships, and estimating employment-output relationships and other statistical measures.
A comprehensive exploration of the economic policies championed by President Barack Obama aimed at economic recovery and reform, emphasizing increased government involvement in various sectors.
An in-depth examination of Objective Value, highlighting its determination by the market, examples, historical context, related terms, and more.
An in-depth look at Occupancy Level, its significance, factors influencing it, and comparisons to related terms such as Vacancy Rate.
Detailed explanation of occupancy and occupants in real estate, covering definitions, types, legal considerations, historical context, and related terms.
Detailed explanation of Occupation: trade, job, business, or vocation of an individual as the principal means of earning a livelihood.
Explanation of occupational groups, their importance in professional settings, types, examples, and related terms.
An in-depth look into Occupational Hazards, including types, examples, impacts on insurance, and related conditions, illustrating the various aspects and considerations surrounding workplace risks.
Occupational taxes are state or local taxes applied to various trades or businesses, including fees for licenses and permits to practice professions like accounting, law, and medicine.
Odd-value pricing involves setting retail prices just below even dollar amounts, like $5.99, $0.39, and $98.99, based on the unproven psychological assumption that consumers perceive lower prices.
A detailed examination of off-budget federal programs, which are not counted toward federal budget limits due to current legal provisions. Examples include Social Security and the United States Postal Service, as well as supplemental appropriations for emergencies.
An off-peak period refers to times of minimum usage for services like telecommunications and utilities, often associated with discounted rates.
Off-Price stores offer a unique retail experience by selling out-of-season and distressed merchandise at lower prices than traditional retail stores. They play a significant role in the retail ecosystem by providing consumers with affordable options and suppliers with a solution for excess inventory.
Off-the-Books payments refer to transactions conducted without formal record-keeping, often used to avoid taxation and government oversight. These can include cash payments or barter transactions.
An in-depth exploration of the Office of Management and Budget (OMB), an agency within the Office of the President responsible for preparing the President's budget, developing fiscal programs with economic advisers, reviewing administrative policies, and advising on legislative matters.
Comprehensive overview of the official exchange rate, mechanisms, examples, historical context, and more.
A comprehensive entry on official reserves, including the definition, components such as gold, currency, and Special Drawing Rights (SDRs), and their importance held at the IMF by member countries.
Detailed definition and overview of the term 'Offshore', including its use in finance, tax implications, and oil and gas drilling.
Understanding the Offshore Exchange Rate, its significance in global finance, and how it functions as a 'legal black market rate'.
An Oil and Gas Lease grants the rights to explore for and extract oil, natural gas, and sometimes other minerals from the ground.
Oil Patch States in the United States refer to regions such as Texas, Oklahoma, Louisiana, California, and Alaska, which are significant in the production and refining of oil and gas. Economists analyze these states to assess regional economic impacts tied to fluctuations in oil prices.
An overview of Okun's Law, an empirical relationship developed by economist Arthur Okun that describes the relationship between unemployment rates and the gross domestic product (GDP).
An in-depth exploration of oligopoly, a market structure dominated by a few large sellers, with emphasis on its characteristics, examples, historical context, and comparisons.
An oligopsony is a market condition where a small number of buyers substantially control the market and drive decision-making power, often resulting in unique economic dynamics. A notable example is the tobacco industry, where a few major companies purchase from numerous growers.
On consignment is a business arrangement where goods are placed in the care of a third party (consignee) to sell on behalf of the owner (consignor), often in return for a commission upon sale.
An in-depth exploration of the concept of a one-hundred-percent location, where a retail establishment can achieve maximum sales volume in a given market area.
Comprehensive details about the Organization of the Petroleum Exporting Countries (OPEC), including its formation, members, historical context, and significance in global oil production.
A detailed explanation of 'Open Account,' including its types, special considerations, examples, historical context, applicability, and related terms.
An open bid is a competitive bidding process that allows the bidder to quote a price for materials or work, with the option to reduce that price to match or beat competitor quotes. This bidding strategy is commonly used in governmental contracts to ensure cost-effectiveness.
Open Distribution refers to the distribution of the same merchandise within a specified region or area by multiple dealers. This approach allows dealers to carry competitive lines and sell an unrestricted number of products.
An open economy is characterized by its significant engagement in international trade and investment, where foreign investment, imports, and exports are easy to accomplish and play a substantial role in its economic life.
The Open Market Committee, commonly referred to as the Federal Open Market Committee (FOMC), plays a crucial role in the United States monetary policy.
An in-depth look at Open Market Operations and their role in regulating the money supply as conducted by the Federal Reserve Bank of New York’s securities department, popularly referred to as the Desk.
An Open Shop is an enterprise that employs workers without regard to their union membership status.
Open Stock refers to retail items that can be purchased individually or according to a specific pattern, with no guarantee of perpetual availability.
Open Union, a labor organization that admits qualified workers to its membership without requiring onerous fees or examinations aimed at discouraging membership.
A comprehensive examination of the Open-Door Policy, including its implications in management practice and international trade.
Open-market rates are interest rates on various debt instruments bought and sold in the open market, directly responsive to supply and demand, and distinct from rates set by central banking authorities.
Operating leverage measures how a company's fixed and variable costs impact its profit structure and business risk.
Operations Research (OR) focuses on developing sophisticated mathematical models to optimize repetitive activities such as traffic flow, assembly lines, military campaigns, and production scheduling, frequently utilizing computer simulations.
An in-depth exploration of opportunity cost, its significance, and its application in economics and corporate finance.
The optimum capacity level of output in manufacturing operations that leads to the lowest cost per unit.
An Optionee is a person or entity who receives or purchases an option, whether in finance, real estate, or other fields. This Comprehensive guide delves into types, historical context, and practical applications.
Options refer to things one purchases to add to a basic product, alternative courses of action that face a decision-maker, and the financial right, but not obligation, to buy or sell property.
A comprehensive overview of the term 'Order' in various contexts including commercial law, investments, legal frameworks, and trade.
The Organization for Economic Cooperation and Development (OECD) is an international organization that works to improve global economic development through policy recommendations and cooperation among major Western economies.
A comprehensive look at organized labor in the United States, focusing on its structure, history, and the role of major unions like the AFL-CIO.
An in-depth look at Original Equipment Manufacturers (OEM), detailing their role in assembling complete pieces of equipment from parts, the use of the term in software, and other relevant considerations.
An exploration of the concept of leveraging other people's money (OPM) in financial ventures, including definitions, types, applications, and historical context.
A comprehensive explanation of the action of placing a higher bid than a competitor in auctions and competitive bidding environments.
