- Industry: Education
- Number of terms: 31274
- Number of blossaries: 0
- Company Profile:
1. In intellectual property regimes, the transaction at which rights terminate. Under national exhaustion, rights end with first sale in a country, preventing parallel imports. Under international exhaustion, rights end with first sale anywhere, permitting parallel imports. 2. Product exhaustion.
Industry:Economy
A variable that is taken as given by an economic model. It therefore ''is'' subject to direct manipulation by the modeler. In most models, policy variables such as tariffs and par values of pegged exchange rates are exogenous. Contrasts with endogenous variable.
Industry:Economy
1. The mathematical expected value of a random variable. Equals the sum (or integral) of the values that are possible for it, each multiplied by its probability. 2. What people think a variable is going to be. In general, the expectation in this second sense may be more important than the first for determining behavior on a market, such as the exchange market.
Industry:Economy
A product whose value can be better known after having consumed it. Producers of experience goods may temporarily charge a price lower than marginal cost to induce buyers to try the product. Done with an export, this would be legally considered dumping.
Industry:Economy
1. A good that moves outward across a country's border for commercial purposes. 2. A product, which might be a service, that is provided to foreigners by a domestic producer. 3. To cause a good or service to be an export under definitions 1 and/or 2.
Industry:Economy
A loan to the buyer of an export, extended by the exporting firm when shipping the good prior to payment, or by a facility of the exporting country's government. In the latter case, by setting a low interest rate on such loans, a country can indirectly subsidize exports.
Industry:Economy
A program to guarantee payment to exporting firms who extend export credits.
Industry:Economy
A government program that makes it more attractive for a firm, industry, or country to export. Most simply, an export subsidy.
Industry:Economy
A firm that handles the process of exporting for other firms. It may do this for a commission or fee, or it may purchase the goods for subsequent sale.
Industry:Economy
