Economic Glossary | Glossary Related To t | Bankers Algo
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Do what you can, with what you have, where you are

-by Theodore Roosevelt

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Economic Glossary

    Trust

One of the most valuable economic assets, hard to create but easy to destory - a crucial ingredient of a country's social capital. People are more likely to do business together when they trust each other. Trust can reduce market failure that otherwise results from asymmetric information. When there is a lack of trust, people may have to spend heavily on monitoring others' behaviour to ensure they do what they say they will do. This cost may be so high that it is not worth going ahead with a business deal. When trust is absent, people may be less flexible in their dealings with each other. Countries can overcome some of the problems of a lack of trust by passing laws requiring good behaviour, but only to the extent that people trust that the laws will be enforced


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Banker's Algo Daily Dose

Word of the day

Contrive(v)

Meaning:

Invent, design

Synonyms: come up with, concoct, construct, cook up, create

Antonyms: disorganize

Apti Question of The day

Question

A train of length 150 m takes 10 sec to cross another train 100 m long coming from the opposite direction. If the speed of first train is 30 km/hr. what is the speed of second train?

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