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e. Social exchange theory is a sociological and psychological theory that studies the social behavior in the interaction of two parties that implement a cost-benefit analysis to determine risks and benefits. The theory also involves economic relationships—the cost-benefit analysis occurs when each party has goods that the other parties value. [1]
Economics is the study of the production, distribution, and consumption of goods and services. Managerial economics involves the use of economic theories and principles to make decisions regarding the allocation of scarce resources. [2] It guides managers in making decisions relating to the company's customers, competitors, suppliers, and ...
A market system (or market ecosystem [1]) is any systematic process enabling many market players to offer and demand: helping buyers and sellers interact and make deals.It is not just the price mechanism but the entire system of regulation, qualification, credentials, reputations and clearing that surrounds that mechanism and makes it operate in a social context. [2]
Enterprise resource planning. Enterprise resource planning (ERP) is the integrated management of main business processes, often in real time and mediated by software and technology. ERP is usually referred to as a category of business management software —typically a suite of integrated applications —that an organization can use to collect ...
Generally Accepted Accounting Principles (GAAP or U.S. GAAP or GAAP (USA), pronounced like "gap") is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC) [1] and is the default accounting standard used by companies based in the United States. The Financial Accounting Standards Board (FASB) publishes and maintains ...
Information exchange. Information exchange or information sharing means that people or other entities pass information from one to another. This could be done electronically or through certain systems. [1] These are terms that can either refer to bidirectional information transfer in telecommunications and computer science or communication seen ...
The New York Stock Exchange is known as the "Big Board", perhaps because of these large chalk boards. Until recently, in some countries such chalkboards continued in use. Morse code was used in Chicago until 1967 for traders to send data to clerks called "board markers". [4]
A machine can be used to remove the affected plasma and replace it with good plasma or a plasma substitute. This is also known as plasma exchange. The process is similar to kidney dialysis ...
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