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Topic Review
Discover Card
Discover is a credit card brand issued primarily in the United States. It was introduced by Sears in 1985. When launched, Discover did not charge an annual fee and offered a higher-than-normal credit limit, features that were disruptive to the existing credit card industry. A subsequent innovation was "Cashback Bonus" on purchases. Most cards with the Discover brand are issued by Discover Bank, formerly the Greenwood Trust Company. Discover transactions are processed through the Discover Network payment network. In 2005, Discover Financial Services acquired Pulse, an electronic funds transfer network, allowing it to market and issue debit and ATM cards. In February 2006, Discover Financial Services announced that it would begin offering Discover Debit cards to other financial institutions, made possible by the acquisition of Pulse. Discover is the fourth largest credit card brand in the U.S., behind Visa, MasterCard and American Express, with nearly 44 million cardholders.
  • 1.5K
  • 01 Nov 2022
Topic Review
Disability in Israel
Disability rights in Israel are based among the rest upon disabillity pensions, accessibility regulations, therapy, special education, sheltered workshop and assisted living. Since the beginning of the 21st century, the disabled people in Israel, with a population of 250,000, have managed to equalize the disability pension from the Bituah Leumi (National Insurance Institute of Israel) to the minimum wage level in Israel. As of 2017, the struggle was made by demonstrations, blocking main roads, highways and industries, activity in social networking services, petitions to the High Court of Justice, negotiations with the Government of Israel and bills in the Knesset. In 2017, a full disability pension was 2,342 ILS. The minimum wage in this year was 5,000 ILS, and in December 2017 it went up to 5,300 ILS per month.
  • 578
  • 01 Nov 2022
Topic Review
Dot-Com Bubble
The dot-com bubble (also known as the dot-com boom, the tech bubble, and the Internet bubble) was a historic economic bubble and period of excessive speculation that occurred roughly from 1995 to 2000, a period of extreme growth in the usage and adaptation of the Internet. The Nasdaq Composite stock market index, which included many Internet-based companies, peaked in value on March 10, 2000 before crashing. The burst of the bubble, known as the dot-com crash, lasted from March 11, 2000 to October 9, 2002. During the crash, many online shopping companies, such as Pets.com, Webvan, and Boo.com, as well as communication companies, such as Worldcom, NorthPoint Communications and Global Crossing failed and shut down. Others, such as Cisco, whose stock declined by 86%, and Qualcomm, lost a large portion of their market capitalization but survived, and some companies, such as eBay and Amazon.com, declined in value but recovered quickly.
  • 4.5K
  • 01 Nov 2022
Topic Review
Experimental Economics
Experimental economics is the application of experimental methods to study economic questions. Data collected in experiments are used to estimate effect size, test the validity of economic theories, and illuminate market mechanisms. Economic experiments usually use cash to motivate subjects, in order to mimic real-world incentives. Experiments are used to help understand how and why markets and other exchange systems function as they do. Experimental economics have also expanded to understand institutions and the law (experimental law and economics). A fundamental aspect of the subject is design of experiments. Experiments may be conducted in the field or in laboratory settings, whether of individual or group behavior. Variants of the subject outside such formal confines include natural and quasi-natural experiments.
  • 743
  • 31 Oct 2022
Topic Review
Retail Loss Prevention
Retail loss prevention is a set of practices employed by retail companies to preserve profit. Profit preservation is any business activity specifically designed to reduce preventable losses. A preventable loss is any business cost caused by deliberate or inadvertent human actions, colloquially known as "shrinkage". Deliberate human actions that cause loss to a retail company can be theft, fraud, vandalism, waste, abuse, or misconduct. Inadvertent human actions attributable to loss are poorly executed business processes, where employees fail to follow existing policies or procedures – or cases in which business policies and procedures are lacking. Loss prevention is mainly found within the retail sector but also can be found within other business environments. Since retail loss prevention is geared towards the elimination of preventable loss and the bulk of preventable loss in retail is caused by deliberate human activity, traditional approaches to retail loss prevention have been through visible security measures matched with technology such as CCTV and electronic sensor barriers. Most companies take this traditional approach by either having their own in-house loss prevention team or using external security agencies. Charles A. Sennewald and John H. Christman state, "Four elements are necessary for a successful loss prevention plan: 1) Total support from top management, 2) A positive employee attitude, 3) Maximum use of all available resources, 4) A system which establishes both responsibility and accountability for loss prevention through evaluations that are consistent and progressive."
  • 949
  • 31 Oct 2022
Topic Review
MnPASS
MnPASS (Pronounced "Minnpass") is the brand name associated with a series of high occupancy toll lanes (HO/T lanes) in the Minneapolis-St. Paul Metropolitan Area of Minnesota and is also associated with the electronic toll collection (ETC) system used for those HO/T lanes. The lanes and the ETC system are owned by the Minnesota Department of Transportation. Solo drivers who are registered under the MnPASS program and have a toll transponder are allowed to pay a toll to use the lanes during operating hours. Vehicles with two or more occupants, buses, and motorcycles may use the lanes for free without requiring a toll transponder.
  • 941
  • 31 Oct 2022
Topic Review
Lien
A lien (/ˈliːn/ or /ˈliːən/)[Note 1] is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other The owner of the property, who grants the lien, is referred to as the lienee and the person who has the benefit of the lien is referred to as the lienor or lien holder. The etymological root is Anglo-French lien, loyen "bond", "restraint", from Latin ligamen, from ligare "to bind". In the United States , the term lien generally refers to a wide range of encumbrances and would include other forms of mortgage or charge. In the US, a lien characteristically refers to nonpossessory security interests (see generally: Security interest—categories). In other common-law countries, the term lien refers to a very specific type of security interest, being a passive right to retain (but not sell) property until the debt or other obligation is discharged. In contrast to the usage of the term in the US, in other countries it refers to a purely possessory form of security interest; indeed, when possession of the property is lost, the lien is released. However, common-law countries also recognize a slightly anomalous form of security interest called an "equitable lien" which arises in certain rare instances. Despite their differences in terminology and application, there are a number of similarities between liens in the US and elsewhere in the common-law world.
  • 362
  • 31 Oct 2022
Topic Review
Mathematical Economics
Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics. Often, these applied methods are beyond simple geometry, and may include differential and integral calculus, difference and differential equations, matrix algebra, mathematical programming, or other computational methods. Proponents of this approach claim that it allows the formulation of theoretical relationships with rigor, generality, and simplicity. Mathematics allows economists to form meaningful, testable propositions about wide-ranging and complex subjects which could less easily be expressed informally. Further, the language of mathematics allows economists to make specific, positive claims about controversial or contentious subjects that would be impossible without mathematics. Much of economic theory is currently presented in terms of mathematical economic models, a set of stylized and simplified mathematical relationships asserted to clarify assumptions and implications. Formal economic modeling began in the 19th century with the use of differential calculus to represent and explain economic behavior, such as utility maximization, an early economic application of mathematical optimization. Economics became more mathematical as a discipline throughout the first half of the 20th century, but introduction of new and generalized techniques in the period around the Second World War, as in game theory, would greatly broaden the use of mathematical formulations in economics. This rapid systematizing of economics alarmed critics of the discipline as well as some noted economists. John Maynard Keynes, Robert Heilbroner, Friedrich Hayek and others have criticized the broad use of mathematical models for human behavior, arguing that some human choices are irreducible to mathematics.
  • 1.6K
  • 31 Oct 2022
Topic Review
Sweatshop
A sweatshop or sweat factory is a crowded workplace with very poor, socially unacceptable or illegal working conditions. The work may be difficult, dangerous, climatically challenging or underpaid. Workers in sweatshops may work long hours with low pay, regardless of laws mandating overtime pay or a minimum wage; child labor laws may also be violated. The Fair Labor Association's "2006 Annual Public Report" inspected factories for FLA compliance in 18 countries including Bangladesh, El Salvador, Colombia, Guatemala, Malaysia, Thailand, Tunisia, Turkey, China, India, Vietnam, Honduras, Indonesia, Brazil, Mexico, and the US. The U.S. Department of Labor's "2015 Findings on the Worst Forms of Child Labor" found that "18 countries did not meet the International Labour Organization's recommendation for an adequate number of inspectors."
  • 2.2K
  • 31 Oct 2022
Topic Review
Cannibalization (Marketing)
In marketing strategy, cannibalization refers to a reduction in sales volume, sales revenue, or market share of one product as a result of the introduction of a new product by the same producer.
  • 419
  • 31 Oct 2022
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