What Is a Substandard Insurance? An individual who may not qualify for a standard insurance policy may receive a substandard insurance policy from an insurance provider. Substandard insurance policies contain special or restrictive provisions and will have higher premiums due to the higher risk posed by the individual. Since they are considered a higher risk, it increases the probability
What Is Substantial Gainful Activity (SGA)? Substantial gainful activity (SGA) represents the monthly threshold salary used by the U.S. Social Security Administration (SSA) to qualify individuals for disability benefits. The SSA updates the dollar amount annually to reflect inflation (or rising prices) and generally maintains a higher threshold for statutorily blind individuals. Key Takeaways The
What Is a Substitute? A substitute, or substitutable good, in economics and consumer theory refers to a product or service that consumers see as essentially the same or similar-enough to another product. Put simply, a substitute is a good that can be used in place of another. Substitutes play an important part in the marketplace and are
What Are Substitute Checks? Substitute checks are copies of checks used by banks in lieu of the original. This practice was made legal by the Check Clearing for the 21st Century Act in 2003, better known as the Check 21 Act. Provided that the copy includes both the front and the back of the original
What Is the Substitution Effect? The substitution effect is the decrease in sales for a product that can be attributed to consumers switching to cheaper alternatives when its price rises. A product may lose market share for many reasons, but the substitution effect is purely a reflection of frugality. If a brand raises its price
A subvented lease is a type of lease in which the entity offering the lease reduces the cost through some subsidy. Subvented leases are commonly offered in car leasing contracts. Key Takeaways A subvented lease offers a lessee the opportunity to rent an asset that has been made more affordable via a subsidy.A common marketing
What Is Succession Planning? The term succession planning refers to a business strategy companies use to pass leadership roles down to another employee or group of employees. Succession planning ensures that businesses continue to run smoothly and without interruption, after important people move on to new opportunities, retire, or pass away. It can also provide
What Is a Sudden Economic Stop? A sudden economic stop is an abrupt reduction in net capital flows into an economy, especially an emerging economy. Key Takeaways A sudden economic stop is an abrupt reduction of capital flows into a nation’s economy, which is often accompanied by economic recessions and market corrections.Sudden stops may also be
What Is Sudden Wealth Syndrome? Sudden wealth syndrome (SWS) is a type of distress that afflicts individuals who suddenly come into large sums of money. Becoming suddenly wealthy can cause people to make decisions they might not have otherwise made. Sudden wealth syndrome symptoms include feeling isolated from former friends, feeling guilty about their good fortune, and extreme fear of
What Is Sugar No.11? Sugar No.11 is a futures contract for the physical delivery of raw cane sugar. The Sugar No. 11 futures contract is considered the benchmark for trading raw sugar around the world. Sugar production is concentrated in tropical and subtropical areas, so the performance of Sugar No. 11 can also be used
