Unbanked-A slang term for people who do not use banks or
banking institutions in any capacity. Unbanked persons generally pay for things
in cash or else purchase money orders. Unbanked persons also typically do not
have insurance, pensions or any other type of professional money-related
services.
Man-Year - A method of
describing the amount of work done by an individual throughout the entire
year. The man-year takes the amount of hours worked by an individual during
the week and multiplies it by 52 (or the number of weeks worked in a year).
The man-year calculated will be different for various industries depending on
the average number of hours worked each week and the number of weeks worked
per year.
Collaborative
Commerce (C-commerce)-Optimization
of supply and distribution channels in order to capitalize upon the global
economy and use new technology efficiently.
Noon Rate -A term used
by the Bank of Canada to describe the foreign exchange rate between the U.S.
dollar and the Canadian dollar. The rate is released by 12:45pm EST by the Bank
of Canada on any given day, and is based on the trading that takes place from
11:59am to 12:01pm on that day. The noon rate is often used by companies as a
benchmark for translating financial statements.
Procyclic -A condition of positive correlation between the
value of a good, a service or an economic indicator and the overall state of
the economy. In other words, the value of the good, service or indicator tends
to move in the same direction as the economy, growing when the economy grows
and declining when the economy declines.
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