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A good is considered non-rivalrous or non-rival if, for any level of production, the cost of providing it to a marginal (additional) individual is zero. [2] A good is "anti-rivalrous" and "inclusive" if each person benefits more when other people consume it. A good can be placed along a continuum from rivalrous through non-rivalrous to anti ...
A letter of credit (LC), also known as a documentary credit or bankers commercial credit, or letter of undertaking (LoU), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods. Letters of credit are used extensively in the financing of international trade, when the ...
In economics, a good, service or resource is broadly assigned two fundamental characteristics; a degree of excludability and a degree of rivalry. Excludability was originally proposed in 1954 by American economist Paul Samuelson where he formalised the concept now known as public goods, i.e. goods that are both non-rivalrous and non-excludable. [1]
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
A letter of credit is a written document from a bank guaranteeing the seller of a product or service will be paid as long as the goods or services are provided, as specified. Letters of credit are ...
The production of anti-rival goods typically benefits from network effects.Leung (2006) [2] quotes from Weber (2004), "Under conditions of anti-rivalness, as the size of the Internet-connected group increases, and there is a heterogeneous distribution of motivations with people who have a high level of interest and some resources to invest, then the large group is more likely, all things being ...
To get an unsecured business line of credit, your business will need a solid financial profile (e.g., good credit score, at least two years in business, consistent or growing annual revenue).
SBA CAPLines are an example of business lines of credit, offering both revolving and non-revolving lines. CAPLines are designed to help businesses that need funding for operational expenses ...