What is the National Trade Data Bank? The National Trade Data Bank (NTDB) is an electronic database that contains information and statistics on exports promotion, imports and international economic information. NTDB is supplied by 15 government agencies in the United States and established by the secretary of commerce in the United States. NTDB is a...

What is a Vertical Market? A vertical market refers to a form of market that consists of a cluster of organizations and customers that are connected with one another through a given niche. Firms that prefer vertical market meet the specific needs of the market, and dont serve a wider target market. Vertical markets formulate organizational policies ...

What is an Asset Swapped Convertible Option Transaction? Asset Swapped Convertible Option Transaction - ASCOT is a structure in which convertible bonds are divided into two parts using convertible bond options. An isolated item is a bond with ordinary coupon payments and stock options as a call option. Through the ASCOT mechanism, investors can purc...

What are Economic Unions? An economic union is a type of trade block composed of common market and a customs union.  The participant countries have both common policies on product regulation, freedom of movement of goods, services and the factors of production (capital and labor) as well as a common external trade policy. Related Topics Trade Balanc...

Severance Pay: What You Need to Know It is an unfortunate situation when you have to let an employee go or your are the employee being dismissed from the company. Either way, it is important to understand some of the implications of discharging an employee. In this article, we will discuss what is severance pay, how is it used, and some important co...

What is Expected Utility? Expected utility refers to the usefulness, profitability, or utility that an economy is anticipated to accumulate under given circumstances within a space of time.  As a term in economics, the expected utility also describes the anticipated value (utility) an action should produce under certain situations.  Expected utility...

LIABILITY AND WARRANTIES FOR NEGOTIABLE INSTRUMENTS There are two main types of liability on a negotiable instrument - primary and secondary liability. The maker of a note and drawee of a draft are primarily liable to pay the instrument. Parties who later sign, transfer, or present an instrument may be secondarily liable to pay the instrument. Secon...

How to File Bankruptcy for my Business When a business must file for bankruptcy, the process and rules that apply are a bit different from those of a personal bankruptcy filing. The following material addresses the types of bankruptcy and the process for filing each type. Types of Bankruptcy There are generally three types of chapters of bankruptcy ...

What is the difference between an Entrepreneur and Inventor? As discussed in the previous chapter, the entrepreneur assembles resources around a source of value. More common than not, the entrepreneur is not the person who came up with the idea or invention.  This separation is the most common genesis of entrepreneurial teams. For example, an engine...

How does Relative Inflation Shifts Demand and Supply for a Currency? If a country experiences a relatively high inflation rate compared with other economies, then the buying power of its currency is eroding, which will tend to discourage anyone from wanting to acquire or to hold the currency.  The below figure shows an example based on an actual epi...