Terms & Definitions

The fulfillment of the shipment as Micro Export, by issuing an invoice (VAT-free) on behalf of the individual customer for a foreign-addressed order received through the e-commerce/online (internet) sales channel. E-Commerce: the conducting of commerce online in the digital environment. E-TUYS: the Electronic Incentive Application and Foreign Capital Information System, a web-based application in which the affairs and transactions relating to the investment incentive certificate, managed by the Directorate General for Incentive Implementation and Foreign Capital, are carried out.

It is the repayment of the principal of a debt together with accrued interest before its due date.

It is the earnings per stock obtained by dividing the net profit by the number of shares of paid-in capital; it is calculated after deducting preferred dividends.

The Doing Business Index, prepared regularly every year since 2004 by the World Bank, analyzes the business regulations affecting the investment climate in member countries. İŞGEM: Business Development Centers whose establishment criteria and qualities are determined by KOSGEB. İŞKUR: the Turkish Employment Agency (İŞKUR), the relevant organization of the Ministry of Family, Labor and Social Services, whose activities are the preservation, development and spread of employment and the prevention of unemployment

It is the method of examining the cost-benefit analysis, that is the comparison of cost and utility, prepared for an investment from the standpoint of the national economy. The economic analysis of the investment is comprehensive and includes the whole of society in the examination.

An index summarizing consumers' and producers' assessments, expectations and tendencies regarding the general economic situation, formed by weighting and combining the consumer confidence indicator with the confidence indicators for manufacturing industry (real sector), services, retail trade and construction, adjusted for seasonal effects.

It is the period in which total output in an economy shows an overall decline.

It is a decision on which products are produced, how and for whom with limited natural resources, in a way that maximises social benefit.

It is the period in which total output in an economy shows an overall increase.

Or business cycle; the rises and falls in total production, income and spending seen over multi-year periods in market economies.

; the free movement of goods, services, capital, information, technology, and people across borders.

These are goods that benefit economic agents and have a positive market price.

It is a general and sustained increase over time in the quantity of goods and services produced in a country.

It is a profit calculation that takes into account both explicit and implicit costs.

It is the total gain the market provides to buyers and sellers and equals the sum of consumer surplus and producer surplus.

It is the concept describing how economic decisions are taken in a society or region and the institutional structure related to them.

; Each decision-making member of households, firms, the government, and the outside world, which constitute the four basic components of the economy.

Or in other words economics, the branch of science that studies how individuals and societies use the limited resources at their disposal to satisfy their wide-ranging wants and needs.

It is the concept explaining how total product is affected when all production factors are changed by the same proportion.

It is the existence of economies of scope if the cost of producing two products together is less than the total of the cost of a firm producing only product x and the cost of a firm producing only product y (competition terms glossary 102).

Or in other words economics, the branch of science that studies how individuals and societies use the limited resources at their disposal to satisfy their wide-ranging wants and needs.

It refers to the environment that brings together elements supporting and facilitating the business ideas of interrelated groups sharing a certain space, sector or theme.

This hypothesis predicts that the current prices of instruments traded in a market reflect all the obtainable information relating to those instruments. With the assumption that price is determined by buyers and sellers, the hypothesis assumes that traders can access all attainable information simultaneously and symmetrically. It is predicted that the price formed in this case is the equilibrium price.

Or abbreviated as ε, the measure showing by what percentage the variable on the vertical axis increases or decreases as a result of a one percent increase in the variable shown on the horizontal axis.

It is a basic type of elasticity that shows how much the ratio of the quantities of two variables changes as a result of a one percent increase in the ratio of their prices.

Or price elasticity of supply, abbreviated as ε, a basic type of elasticity showing by what percentage the quantity supplied of a product changes as a result of a one percent increase in its price.

The payment system providing the real-time electronic settlement of payment transactions made in Turkish lira. The owner and operator of the EFT system is the CBRT. The EFT System has two components: the Interbank TL Transfer System and the Customer Funds Transfer System. The EFT System operates between 08:00 and 17:30 every weekday except official holidays, and on half working days the system closes at 13:00.

A monetary value issued in return for funds accepted by the electronic money issuing institution, stored electronically, used to carry out the payment transactions defined in Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions, and accepted as a means of payment also by real and legal persons other than the electronic money issuing institution.

It is a legal entity authorised to issue electronic money under Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions.

The securities settlement system enabling the transfer and settlement of securities among banks electronically, in real time and on a book-entry basis. In the EMKT System, transactions relating to government domestic debt securities and securities issued by some public institutions are carried out. In the transactions made in the EMKT System, the delivery versus payment (DVP) principle applies. Under this principle, the transfer of securities is made simultaneously with the realization of the fund transfer relating to the said securities. The EMKT System operates between 08:00 and 17:30 every weekday except official holidays, and on half working days the system closes at 13:00. The owner and operator of the EMKT System is the CBRT.

To issue, to put into circulation.

It is a banknote series issued within a particular graphic design concept and dimensional arrangement.

They are persons engaged in any activity aimed at producing goods or providing services in order to earn wages or profit in a given period.

Or the employed, the persons engaged in any activity in order to provide production or services in order to earn wages or profit in a given period.

Or the income-consumption curve, a diagrammatic tool showing the relationship between the consumer's income and the quantity demanded of a particular good, with everything else held constant.

It is a resolution stating that as the income level rises, the share of food expenditure in income will fall

Or the ascending price auction, a type of auction in which participants submit open bids and the price is progressively raised from a low starting level until a winner is determined.

; it means that all members of society have equal opportunities in areas such as education, work, and health, regardless of differences such as gender, ethnicity, or geographical location.

It is the fundamental equation stating that the product of the money supply and the velocity of money circulation equals nominal GDP.

It is the foreign exchange rate at which transactions take place when the foreign exchange market is in equilibrium.

It is the bundle of factors used in the producer equilibrium.

It is the wage rate formed when the labour market is in equilibrium.

It is the general price level that arises when the economy is in income equilibrium.

It is the total amount of production carried out while the economy is in income equilibrium.

It is the interest rate at which borrowing and lending transactions take place while the money market is in equilibrium.

It is the price at which transactions take place while the market is in equilibrium.

It is the quantity of goods bought and sold while the market is in equilibrium.

It is a decision on which products are produced, how and for whom, and how everyone shares an equal or deserved share.

They are all kinds of resources owned by an organisation with legal personality, such as money, buildings, vehicles and office equipment.

Example: Total equity increased as a result of the profit for the year and the share issue.)(Total equity increased as a result of the profit for the year and the share issue.)

İngilizce tanım: The residual interest in the assets of an entity after deducting all of its liabilities.

It is the ratio of total assets to equity (Total Assets / Equity); it is the DuPont expression of financial leverage. The term 'stock cut' is wrong; the correct term is equity.

Used to refer to US dollar deposits held at banks outside the United States or at the foreign branches of US banks. The expression 'Euro' stems from the fact that the great majority of such deposits are held particularly at banks in Western European countries. US dollar accounts held in Asia and all other similar countries are also referred to by this name.

They are securities issued by a country or an institution in a currency other than its own national currency.

It is the inability to produce at the level that minimises average total cost because available factors of production are not fully utilised.

Or in other words shortage, the situation in which the quantity demanded in the market exceeds the quantity supplied.

Or labor shortage, the situation in which the quantity of labour demanded in the labour market exceeds the quantity supplied.

Or unemployment, the situation in which the quantity of labour supplied in the labour market exceeds the quantity demanded.

They are the reserves a bank holds in addition to the required reserve amount.

Or surplus, the situation in which the quantity supplied in the market exceeds the quantity demanded.

It is having wealth a thousand times or more than the average in a given society, although it has no precise definition.

It is the expression of one national currency in another national currency.

Example: The exchange rate moved sharply against us last quarter.( The exchange rate moved sharply against us last quarter.)

İngilizce tanım: Rate at which one currency is exchanged for another.

Today, owing to the importance they carry, particularly for small and open economies, and their potential to directly affect the real economy, exchange rates are used directly as target, indicator or instrument within the framework of the monetary policy implemented. Exchange rate practices take shape between two regimes: the fixed exchange rate regime at one end and free floating at the other. Under a fixed exchange rate regime, the value of the national currency is pegged against a foreign currency or a basket of currencies, and the maintenance of this value is guaranteed by the monetary authority, sometimes explicitly and sometimes implicitly. In Currency Board-type arrangements, while the rate is pegged on the one hand, on the other hand the national money supply is tied entirely to the foreign currency purchases and sales conducted at this rate. Under a free floating exchange rate regime, the price of the exchange rate is determined according to the supply and demand forming in the market. Besides these, many intermediate regimes exist. For example, under a floating regime the rate is largely determined by market supply and demand conditions, but the monetary authority intervenes in the market rarely and in limited amounts; under a managed float regime, again there is no exchange rate target, but interventions can occur frequently for various reasons. Under regimes known as the crawling peg, the rate is guided according to a set of criteria and is intervened in by the monetary authority when necessary. The choice of such exchange rate regimes varies according to the conditions countries find themselves in.

It is the situation in which the value of a country's currency against other countries' currencies remains stable over time or changes at a low and predictable rate.

It is the monetary policy regime in which the central bank targets a fixed exchange rate or range between its national currency and another country's currency.

Or excludability in consumption, the ability to prevent those who have not purchased a good or a service from using it.

Or abbreviated as excludability, the ability to prevent those who have not purchased a good or a service from using it.

These are agreements between enterprises whose purpose is to prevent or make more difficult the activities of competitors.

It is regulated in Article 13 of the Competition Act. The exemption granted to agreements, concerted actions and enterprise unions by the Competition Terms Glossary B decisions numbered 56 is not absolute where the conditions listed in Article 5 of the Competition Act are met.

In our country, the institution that supports and encourages, by supporting the development of exports, the diversification of exported goods and services, the provision of new markets for exported goods, the increase of exporters' shares in international trade, the provision of the necessary support for exporters' ventures, and the provision of competitive strength and assurance to exporters and to contractors and investors operating abroad in international markets, as well as investments to be made abroad and the production and sale of investment goods aimed at export

Options shaped according to the demander's needs. Examples of this type are options under the name 'barrier option' that lose their validity if, for instance, the price foreseen in the option for the underlying instrument is passed, or options under the name 'lookback options' that take, for example, the highest price realized in a certain period as the option's price.

The investments directed toward increasing capacity through the addition of a production line or machinery and equipment to an existing investment, and forming a whole by creating common infrastructure with the existing facility. TEYDEB: the abbreviation of the Presidency of Technology and Innovation Support Programs, which administers the incentives and supports offered by the Presidency of the Scientific and Technological Research Council of Türkiye (TÜBİTAK).

Or output-factor curve, the diagrammatic tool showing how the combination of factors used by the producer changes as total product rises, with everything else held constant.

It is a fiscal policy aimed at increasing aggregate demand and real GDP.

Or positive output gap, the situation in which real GDP in the short term is above potential GDP and the economy is therefore considered to be in an expansion phase.

It is a monetary policy aimed at increasing aggregate demand and real GDP.

Within the monetary policy framework, expectation management is the set of strategies the Central Bank of the Republic of Türkiye (TCMB) applies to ensure that the medium- and long-term inflation expectations of economic units take shape in line with the inflation targets.

It is the average loss that arises when the VaR threshold is exceeded; it measures tail risk better than VaR.

Or abbreviated as EU, the operation of taking the probability-weighted average of the benefit.

Or abbreviated as EV, the operation of taking the probability-weighted average.

Example: The expected value of the consideration was calculated from possible outcomes.(The expected value of the provision was calculated from possible outcomes.)

English definition: A probability-weighted average of possible outcomes.

It is an explicit settlement reached between competing undertakings on matters such as the determination of price and production quantity and the sharing of markets and customers.

Some of the cases evaluated under Article 6 of the Competition Act are characterized as exploitative abuse. These are pricing or other practices causing a direct loss in consumer welfare. In such abuses, the dominant undertaking uses the advantage of its market power with the aim of extracting rent from consumers in a way a non-dominant undertaking could not. Excessive pricing and applying unfair trading conditions are among these cases.

Undertakings operating in the same country acting together to sell or market their products in external markets, thereby obtaining an advantage against their international rivals. This can emerge in forms such as export prices being set jointly by rival undertakings, the sharing of customers, decisions on whether products are to be sold to certain regions via patent or license — that is, the conduct of an export restricted relative to what would occur in a free trade environment

The Coverage Ratio is calculated with the formula (Exports / Imports)*100. A coverage ratio above 100 shows that the country has a foreign trade surplus, while below 100 it shows a foreign trade deficit.

It is a mathematical relationship showing how the volume of exports changes depending on various variables in an economy.

Within the framework of the rediscount regulations issued pursuant to Article 45 of the CBRT Law, export rediscount credit is extended by the CBRT in return for the rediscounting by intermediary banks of bills drawn in foreign currency by firms and meeting certain conditions. Export rediscount credits are extended through the TL counterpart of the foreign currency amount stated in the bill, at the rate announced on the date the credit is extended, being paid to the firms via banks. Since the repayment of the credits at maturity occurs in foreign currency, a significant contribution is made to the CBRT's foreign currency reserves.

They are offices established with the aim of guiding exporters or those wishing to start exporting, which began operating in selected provinces with the project launched in cooperation between TOBB and the Ministry of Trade.

It is the sale of goods by resident individuals and institutions to other countries.

It is the registration in the name of the administration of all or part of the immovable property, or of the usufruct right, held by real and private law entities, by the state or public law persons, in cases required by the public interest and on condition that the consideration is paid in cash.

It is the total amount of debt the state takes from households and firms domiciled abroad or from other states.

It is the inability to produce domestically the investment goods, raw materials or intermediate goods needed for production in countries that lack the technology and industrial infrastructure to produce them, so that these goods and raw materials are imported from other countries.

It is all other countries with which an economy trades and establishes economic relations.

Externality refers to the situations in which the production or consumption of goods and services brings a cost (negative externality) or a benefit (positive externality) to other persons. Externalities, which are one of the market failures and create inefficiency, may not be reflected in the prices of the goods and services offered. Pollution is a clear example of a negative externality, also called external diseconomy. Chemical wastes dumped into a lake by an industrial facility, killing the fish and plants in the lake,

It is the impact that an economic activity has on people who are not party to that activity.

It is the amount to be paid to the person holding the bond at maturity.

Or input cost, the cost of inputs such as labour, capital and land used in the production process.

Or input market, the markets in which the tools and materials needed to carry out production are bought and sold.

It is the general name for resources such as labour, capital and land used as inputs in production.

The transaction in which firms engaged in the sale of goods and services for domestic and foreign markets obtain liquid funds in return for transferring the short-term commercial receivable rights that have arisen or will arise from the sale of goods and services. Besides this, the financial institutions providing firms with the opportunity to collect the proceeds of credit sales before their maturity are also called 'factoring' institutions. These firms purchase the invoiced receivables of companies that have made credit sales in cash but at a discount, and collect the receivable themselves when it matures.

It is the firm that continuously loses money in a way that is likely to lead to dissolution and that is losing market share.

Mergers and acquisitions that result in a significant restriction of competition may be permitted in certain special cases on the basis of economic and rational justifications; the defence invoked by a firm under section B of the glossary of 53 competition terms constitutes one of these special cases.

It is having equal opportunities in production and consumption and receiving one's due share in a country.

It is the determination of the insurance premium such that it equals the expected value of the insurance policy concerned.

It is earnings before interest, taxes, depreciation and amortisation; it shows the performance of the business independently of financing and amortisation policy.

It is the unplanned purchase at a late price out of fear of missing out on a rising asset; it concentrates in the final stage of speculative bubbles.

The interest rate applied to overnight borrowings of the free reserves banks and other depository institutions keep in their accounts at the Fed.

The money market interest rate at which financial institutions in the United States carry out their overnight borrowing. Since it is of the nature of a fundamental indicator in the implementation of monetary policy, it is under the close supervision of the US central bank (FED). With the aim of the daily 'Federal Funds Rates' forming in this market following a course consistent with its announced target rate, the FED adjusts the daily reserve (available funds) amount in the market through open market operations. For example, if the interest rates forming in this market are below the FED's target rate — in other words, if there is a fund surplus in the market — the FED withdraws this amount from the market through open market operations.

They are general means of payment that have no significant intrinsic use value and gain value and function through law and state guarantee.

It is the total of the consumption and investment expenditures of the private and public sectors.

These are goods purchased by the end user.

It is the main heading in the balance of payments that shows changes relating to financial assets and liabilities.

An account in which the short- and long-term international capital flows carried out by the central bank, general government (central administration, local administrations, social security funds), banks and other sectors (other financial corporations and non-financial corporations, households and non-profit institutions) are recorded; it fundamentally contains the changes in a country's external financial assets and liabilities and the counterpart records of these changes.

A set of accounts showing the financial transactions with one another of all the financial assets and liabilities created, converted into cash and transformed in an economy, by sectors and by financial instruments. Taking as its basis the financial transactions domestic sectors carry out with one another and with the rest of the world, it shows how the surplus or deficit in the capital account is financed with financial assets and liabilities. To access the Financial Accounts

It is a factor that increases individuals' knowledge of and awareness of financial risks, supporting more rational behaviour in their decision-making processes.

It is the rapid withdrawal of investments from countries with similar characteristics by international investors who are alarmed by problems arising in one or a few countries, and the spread of such adverse investment conditions to the financial systems of other countries in this way.

It includes corporate units consisting of independent legal entities and market producers whose core function is to produce financial services.

The growth of financial services enabling wider service options to reach every segment of society. It can also be defined as the ratio at which the funds created in the financial sector are transferred to the real sector. The term 'financial deepening' can be used in a different sense in relation to the macro effects it brings to economies. Accordingly, greater financial deepening means an increase in the money supply, and the increase in the money supply brings economic growth along with it.

The process in which, through individuals being informed on financial matters, awareness of financial products, opportunities and risks increases, and consumers and investors, learning the ways of accessing financial information, develop the ability to reflect the knowledge and competence they acquire onto their economic behavior and to make conscious financial decisions.

It is having sufficient financial resources to meet its objectives and being able to determine its own budget.

Financial institutions that carry the potential of creating systemic risk and can impose large costs on the economy should they become unable to continue their operations, owing to their size and complexity, their connections with other institutions in the financial system, and the difficulty for other financial institutions to provide their significant activities at short notice.

It is the effect of debt financing on boosting return on owners' equity; since it also magnifies losses in low-profit periods, it cuts both ways.

It is a country's removal of restrictions on its financial markets and its financial integration with the outside world.

It is the ability to have the basic financial knowledge that enables effective and conscious decisions in managing a personal budget, and to increase individual and social financial well-being by applying those decisions.

It is an indicator in which the responses given to the different questions of the Financial Services Survey are evaluated together and summarised in order to track developments in the financial services sector. Click to reach the Financial Services Confidence Index.

A survey applied monthly with the aim of monitoring the assessments of the recent past and the forward-looking expectations of the managers of financial institutions in Türkiye regarding their business situation, and producing indicators that will reflect the tendencies and developments in the financial services sector. To access the Financial Services Survey

It is the resilience or protection of financial institutions such as banks and stock exchanges in a country against unexpected changes.

Refers to the stability and resilience against shocks in the financial markets, in the institutions operating in these markets and in the payment systems. Stability in these areas generally brings with it the healthy and stable functioning of the financial system, and hence the productive allocation of the resources in the economy and the appropriate management and distribution of risks. It is a known fact that financial instability, on the other hand, will create serious problems in the economy, and the high cost of the financial crises experienced points to the importance of financial stability.

An international organization established in April 2009 as the successor of the Financial Stability Forum, with the aim of coordinating the work of national financial authorities and international standard-setting bodies, and of developing and implementing effective regulation, supervision and other financial sector policies, for the achievement of financial stability.

The committee established with the change made in Law No. 4059 by Decree-Law No. 637, which entered into force on 8 June 2011, in order to closely and effectively monitor macro financial risks in Türkiye. The Financial Stability Committee, under the chairmanship of the Minister of Treasury and Finance of the Republic of Türkiye, consists of the Governor of the CBRT, the Chairman of the Banking Regulation and Supervision Agency, the Chairman of the Capital Markets Board and the President of the Savings Deposit Insurance Fund. Its fundamental duties are to control financial risks by providing coordination among the member institutions and to prevent the formation of systemic risk.

These are organisations that offer goods and services demanded by the public to the market in order to earn a profit.

Or perfect price discrimination, the practice of selling a given product to each buyer at the highest price that buyer is willing to pay for it.

It is a type of auction in which participants submit sealed bids and the highest bidder wins and pays the price they bid.

They are the ways in which governments shape revenue collection, spending and borrowing in order to achieve specific objectives such as employment, growth and inflation.

; The implementation period of the public budget, which in Turkey starts on January 1 and ends on December 31.

It is the fact that the nominal interest rate exceeds the real interest rate because of inflation expectations.

Or fixed capital; durable goods such as machines, factories, vehicles and buildings produced in order to generate income in the future.

Example: The new machine is recorded as a fixed asset. ( The new machine is recorded as a fixed asset.)

English definition: A long-term tangible asset used in operations.

Or fixed asset; durable goods such as machines, factories, vehicles and buildings produced in order to generate income in the future.

It is the foreign exchange rate regime in which nominal exchange rates are determined by the state and the central bank intervenes in the market in order to keep the rate at a fixed level.

Or fixed input, the production factors whose quantity cannot be changed in a given period.

Or fixed factor, the production factors whose quantity cannot be changed in a given period.

These are discounts in which there is a single discount target for buyers and a single discount rate is applied in line with that target.

It is a more than one-percent response of one variable resulting from a one-percent increase in another variable.

It is the foreign exchange rate regime in which nominal exchange rates are freely determined in the foreign exchange market by supply and demand for foreign currency.

Instruments whose return is linked, without being fixed at issuance, to other variables determined in advance. Issues indexed to realized inflation, or to the past 3-month average of international interest rates such as LIBOR, fall into this type. In environments where uncertainty in return (interest) rates increases and price formation becomes difficult, the risk is lower for both issuers and the individuals and institutions investing.

It is the foreign exchange rate regime in which nominal exchange rates are allowed to vary within a certain range around a central parity determined by the central bank.

A long-term form of investment in which the investor controls the management of an enterprise, or has a say in its management, in an economy other than the one where it is resident. In foreign direct investment, what is essential is that the investor holds a 10% or greater share in the enterprise's capital or has a say in its management.

It is foreign country currencies or any means of payment that stands in for foreign currency.

In Türkiye, the difference between the foreign currency assets and foreign currency liabilities of firms operating outside the financial sector arising from their transactions with the domestic financial sector and with residents abroad. It is used as an indicator of how much of the real sector's foreign-currency-linked liabilities it can cover with its foreign-currency or foreign-currency-indexed assets. To access the Non-Financial Sector Firms' Net FX Position

Or abbreviated as DE, the total amount of foreign exchange that all units in the economy want to buy depending on the exchange rate in a given period.

A graphical tool showing the relationship between the exchange rate and the quantity of foreign currency demanded, other things being equal.

It is the physical or virtual environment where different national currencies are bought and sold and in which foreign exchange rates are determined.

It is the situation in a given period in which the amount of foreign exchange demanded in the market equals the amount of foreign exchange supplied.

Or abbreviated as SE, the total amount of foreign exchange that all units in the economy want to sell depending on the exchange rate in a given period.

A graphical tool showing the relationship between the exchange rate and the quantity of foreign currency supplied, other things being equal.

It expresses the difference between the export and import amounts of goods that pass through customs between residents and non-residents. If exports exceed imports, a trade surplus arises; in the opposite case a trade deficit arises.

The purchase by a bank or a financial institution specialized in this field of receivables, particularly those arising from the export of goods and services, that can be collected according to a certain payment plan. It is a financing instrument for long-term and credit-based export-import transactions, generally used for investment goods.

The case of undertakings submitting their complaints or notifications to all of the different institutions having jurisdiction on the same matter, or to one of the institutions, seeking to ensure that decisions favorable to the undertaking are taken. Undertakings try to take advantage of the conflicts of jurisdiction among the institutions. With the aim of preventing jurisdictional conflicts, protocols can be made among the competent institutions.

It means forward transactions. It envisages the delivery of a certain instrument, at a previously determined price, again on a previously determined date. The transactions are generally not carried out in organized markets, but with the buyer and seller coming face to face, in line with the parties' needs. Such contracts, which can be arranged over instruments subject to purchase and sale such as foreign currency, securities and commodities, can be directed toward speculative aims as well as eliminating price risk.

Example: The forward contract fixes the exchange rate. ( (A forward contract fixes the exchange rate.)

İngilizce tanım: A contract to buy or sell at a future date.

It is a rate or interest fixed today for a transaction to take place on a future date; it is also used in non-deliverable derivatives.

Or reverse price discrimination, the practice of selling a given product to each buyer at the same price even if its cost differs between buyers.

It is the banking system in which a small predetermined portion of deposits at banks is held as cash ready for use.

It is producing different decisions according to the presentation format of the same option (as a gain or as a loss); a '90% chance of survival' and a '10% mortality risk' are the same thing.

It is the part of the cash obtained from operating activities that remains after capital expenditures are deducted; it is the input of DCF valuation.

Refers to a type of investment fund whose certain restrictions have been minimized and in which as flexible an investment strategy as possible can be followed. The fundamental difference of hedge funds from ordinary investment funds is the possibilities of short selling and of borrowing (being able to invest with borrowed resources). Furthermore, thanks to hedge funds, the investor can take short and long positions, apply arbitrage strategies, at the same time both buy and sell a security priced below its value, invest in options or bonds, and invest in any kind of market carrying the possibility of obtaining high returns under low risk.

It is the economic system in which what is produced, how and for whom is decided by the interaction of buyers and sellers in the markets.

It is the situation in which some economic units use more of a good or service than their share or do not pay their share of the cost.

It refers to the system in which the currency is determined according to supply and demand conditions in the market. Central banks never intervene in the market or, very rarely, only intervene under exceptional conditions.

Equalization System): This method basically resembles a multi-base-point system; the only difference is that all production centres are accepted as base points. Thus, sellers calculate the delivery price as if a sale were made to the closest competitor of the buyer.

It is the type of unemployment arising from the entry and exit of individuals into and out of the labour market and the temporary waiting times between jobs.

Or frictional unemployment, the type of unemployment arising from individuals entering and leaving the labour market and from temporary waiting periods between jobs.

; The unemployment rate when there is no cyclical unemployment and the actual unemployment rate equals the natural rate of unemployment.

Or structural budget balance, the public budget balance that is achieved when the economy is at its potential GDP level.

They are the rebates granted by sellers in return for performing certain sales activities and providing after-sales services.

It is the income distribution measure that shows how total income is distributed among factors of production.

It refers to banknotes, coins, deposit money or electronic money.

The capital formation established through the partnerships of qualified investors who invest in the technology- and innovation-oriented ventures of medium-sized enterprises with high growth potential. Entrepreneur: the person or persons who see business opportunities in any field, take the possible risks and commit themselves to the business, and ensure its continuity.

It is the fact that the market value of a country's total production is equal to the total expenditure made to purchase these products and the total income arising from sales.

It is a standardised contract on the exchange that contains an obligation to buy and sell a specific asset on a specific date at a specific price; daily settlement (mark-to-market) applies.

Example: A futures contract is traded on an organized exchange.( (A futures contract traded on an organised exchange.)

İngilizce tanım: A standardised contract to buy or sell at a future date.

Forward markets are the markets in which contracts containing an undertaking to deliver a certain product at a future date, with the price fixed today, are bought and sold.