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Topic Review
Access Economy
The access economy is a business model where goods and services are traded on the basis of access rather than ownership: it refers to renting things temporarily rather than selling them permanently. The term arose as a correction to the term sharing economy because major players in the sharing economy, such as Airbnb, Zipcar, and Uber, are commercial enterprises whose businesses do not involve any sharing. This model uses a technology platform, often accessed via mobile phone, to connect suppliers willing to rent assets (e.g., apartments for rent or cars for transportation services) with consumers. This movement was worth around $26 billion a year in 2015. The number of persons involved in the access economy is not easily measured. The "access economy" or "on-demand economy" poses regulatory and political challenges, such as: defining the nature of the employment relationship; designing regulations to safeguard parties to these transactions; the loss of taxes and corporate access that results from moving away from small locally owned companies to large remote technology companies; and the bypassing of local regulations (such as the requirement for taxi drivers to provide wheelchair vans, or provide drivers 24-7).
  • 1.6K
  • 04 Nov 2022
Topic Review
Sustainable Development Goals
Sürdürülebilir kalkınma hedefleri (SDG'ler), 2015'te kabul edilen 17 hedefi içeren, BM'nin herkes için daha iyi ve daha sürdürülebilir bir gelecek elde etme planının küresel bir kalkınma programıdır. Yoksulluk, eşitsizlik, iklim değişikliği dahil olmak üzere küresel nüfusun karşılaştığı zorlukları ele alırlar. , çevresel bozulma, barış ve adalet. Programlar genellikle sürdürülebilir ekonomik büyümeyi ve sürdürülebilir kalkınma için 2030 gündemini uygulamak için sürdürülebilirliğin güçlendirilmesi modlarını vurgular. Bu SDG'lerden SDGS 7, 8, 9, 11, 12 ve 17, doğrudan ve/veya dolaylı olarak sürdürülebilirlik ve döngüsellik fenomeniyle bağlantılıdır. Birleşmiş Milletler'in (BM) SKH'lerine imza atan ülkelerdeki hükümetler, ulusal politika ve programlar da dahil olmak üzere farklı eylemlerde bulunarak hedefe ulaşılmasında çok önemli bir rol oynamaktadır,
  • 1.7K
  • 03 Nov 2022
Topic Review
Legal Management
Legal management is an academic and professional discipline that is a hybrid between the study of law and management (i.e., business administration, public administration, etc.). Often, alumni of legal management programmes pursue a professional degree in law such as Juris Doctor (JD) or Bachelor of Laws (LL.B.) while some profess as paralegals, law clerks, political analysts, politicians, public administrators, entrepreneurs, business executives, or pursue careers in the academe. The degree was designed in the Philippines and was first introduced in Ateneo de Manila University in the 1980s by former Philippine Supreme Court Chief Justice Renato Corona. A similar degree known as Legal Studies is offered at the University of California Berkeley, but without management courses. Legal management student organisations across the Philippines are represented by the Alliance of Legal Management Associations of the Philippines (ALMAP) to the Securities and Exchange Commission, as a non-stock, non-profit, student-run corporation.
  • 2.6K
  • 03 Nov 2022
Topic Review
Margin
In finance, margin is the collateral that a holder of a financial instrument has to deposit with a counterparty (most often their broker or an exchange) to cover some or all of the credit risk the holder poses for the counterparty. This risk can arise if the holder has done any of the following: The collateral for a margin account can be the cash deposited in the account or securities provided, and represents the funds available to the account holder for further share trading. On United States futures exchanges, margins were formerly called performance bonds. Most of the exchanges today use SPAN ("Standard Portfolio Analysis of Risk") methodology, which was developed by the Chicago Mercantile Exchange in 1988, for calculating margins for options and futures.
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  • 03 Nov 2022
Topic Review
Surety Bond
A surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation.
  • 322
  • 03 Nov 2022
Topic Review
Qualitative Marketing Research
Qualitative marketing research involves a natural or observational examination of the philosophies that govern consumer behavior. The direction and framework of the research is often revised as new information is gained, allowing the researcher to evaluate issues and subjects in an in-depth manner. The quality of the research produced is heavily dependent on the skills of the researcher and is influenced by researcher bias.
  • 492
  • 03 Nov 2022
Topic Review
Panama Papers (South America)
The Panama Papers are 11.5 million leaked documents that detail financial and attorney–client information for more than 214,488 offshore entities. The documents, some dating back to the 1970s, were created by, and taken from, Panamanian law firm and corporate service provider Mossack Fonseca, and were leaked in 2015 by an anonymous source. This page details related allegations, reactions, and investigations, in South America.
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  • 02 Nov 2022
Topic Review
Fixed Exchange-Rate System
A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed against either the value of another single currency to a basket of other currencies or to another measure of value, such as gold. There are benefits and risks to using a fixed exchange rate. A fixed exchange rate is typically used to stabilize the value of a currency by directly fixing its value in a predetermined ratio to a different, more stable, or more internationally prevalent currency (or currencies) to which the value is pegged. In doing so, the exchange rate between the currency and its peg does not change based on market conditions, unlike flexible exchange regime. This makes trade and investments between the two currency areas easier and more predictable and is especially useful for small economies that borrow primarily in foreign currency and in which external trade forms a large part of their GDP. A fixed exchange-rate system can also be used to control the behavior of a currency, such as by limiting rates of inflation. However, in doing so, the pegged currency is then controlled by its reference value. As such, when the reference value rises or falls, it then follows that the value(s) of any currencies pegged to it will also rise and fall in relation to other currencies and commodities with which the pegged currency can be traded. In other words, a pegged currency is dependent on its reference value to dictate how its current worth is defined at any given time. In addition, according to the Mundell–Fleming model, with perfect capital mobility, a fixed exchange rate prevents a government from using domestic monetary policy to achieve macroeconomic stability. In a fixed exchange-rate system, a country’s central bank typically uses an open market mechanism and is committed at all times to buy and/or sell its currency at a fixed price in order to maintain its pegged ratio and, hence, the stable value of its currency in relation to the reference to which it is pegged. To maintain a desired exchange rate, the central bank during the depreciation of the domestic money, sells its foreign money in the reserves and buys back the domestic money. This creates an artificial demand for the domestic money, which increases its exchange rate. In case of an undesired appreciation of the domestic money, the central bank buys back the foreign money and thus flushes the domestic money into the market for decreasing the demand and exchange rate. The central bank from its reserves also provides the assets and/or the foreign currency or currencies which are needed in order to finance any imbalance of payments. In the 21st century, the currencies associated with large economies typically do not fix or peg exchange rates to other currencies. The last large economy to use a fixed exchange rate system was the People's Republic of China, which, in July 2005, adopted a slightly more flexible exchange rate system, called a managed exchange rate. The European Exchange Rate Mechanism is also used on a temporary basis to establish a final conversion rate against the euro from the local currencies of countries joining the Eurozone.
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  • 02 Nov 2022
Topic Review
Interaction Between Monetary and Fiscal Policies
Fiscal policy and monetary policy are the two tools used by the state to achieve its macroeconomic objectives. While for many countries the main objective of fiscal policy is to increase the aggregate output of the economy, the main objective of the monetary policies is to control the interest and inflation rates. The IS/LM model is one of the models used to depict the effect of policy interactions on aggregate output and interest rates. The fiscal policies have a direct impact on the goods market and the monetary policies have a direct impact on the asset markets; since the two markets are connected to each other via the two macrovariables output and interest rates, the policies interact while influencing output and interest rates. Traditionally, both the policy instruments were under the control of the national governments. Thus traditional analyses were made with respect to the two policy instruments to obtain the optimum policy mix of the two to achieve macroeconomic goals, lest the two policy tools be aimed at mutually inconsistent targets. But more recently, owing to the transfer of control with respect to monetary policy formulation to central banks, formation of monetary unions (like European Monetary Union formed via the Stability and Growth Pact), and attempts being made to form fiscal unions, there has been a significant structural change in the way in which fiscal and monetary policies interact. There is a dilemma as to whether these two policies are complementary, or act as substitutes to each other for achieving macroeconomic goals. Policy makers are viewed as interacting as strategic substitutes when one policy maker's expansionary (contractionary) policies are countered by another policy maker's contractionary (expansionary) policies. For example: if the fiscal authority raises taxes or cuts spending, then the monetary authority reacts to it by lowering the policy rates and vice versa. If they behave as strategic complements, then an expansionary (contractionary) policy of one authority is met by expansionary (contractionary) policies of the other. The issue of interaction and the policies being complements or substitutes for each other arises only when the authorities are independent of each other. But when the goals of one authority are made subservient to those of the other, then one authority solely dominates the policy making and no interaction worthy of analysis would arise. Also, fiscal and monetary policies interact only to the extent of influencing the final objective. So long as the objectives of one policy are not influenced by the other, there is no direct interaction between them.
  • 1.8K
  • 02 Nov 2022
Topic Review
Closing Milestones of the NASDAQ Composite
This article is a summary of the closing milestones of the Nasdaq Composite, a United States stock market index. Since first opening at 100.00 on February 5, 1971, the Nasdaq Composite has increased, despite several periods of decline, most recently after the financial crisis.
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  • 02 Nov 2022
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