What Is an Entrepreneur? An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. Entrepreneurs
What Is Environmental Economics? Environmental economics is the study of the cost-effective allocation, use, and protection of the world’s natural resources. Economics, broadly speaking, is the study of how humans produce and consume goods and services. Environmental economics focuses on how they use and manage finite resources in a manner that serves the population while
What Is Environmental, Social, and Governance (ESG) Investing? Environmental, social, and governance (ESG) investing refers to a set of standards for a company’s behavior used by socially conscious investors to screen potential investments. Environmental criteria consider how a company safeguards the environment, including corporate policies addressing climate change, for example. Social criteria examine how it manages
What Is an Environmental Tariff? An environmental tariff, also known as an eco-tariff, is a tax on products imported from countries with inadequate environmental pollution controls. They are mechanisms to prevent nations from ignoring environmental controls to increase exports. Direct environmental tariffs are uncommon because they tend to run afoul of international trade commitments and
What Is the Euro Overnight Index Average (EONIA)? The Euro Overnight Index Average (EONIA) is the average overnight reference rate for which European banks lend to one another in euros. The EONIA is the interest rate for one-day loans between European banks and is considered an interbank rate. However, European regulatory reforms resulted in the
What Is the Electronic Payments Network (EPN)? The term Electronic Payments Network (EPN) refers to a financial clearinghouse that handles a variety of electronic funds transfers for the private sector. It is one of the automated clearinghouses (ACHs) in the United States, along with the Reserve Banks. Funds are transferred using the EPN between accounts at
What Was the Employment Act of 1946? The Employment Act of 1946 was a piece of legislation enacted by the United States Congress that handed the federal government the responsibility of maintaining a high employment level of labor and price stability through low inflation for the U.S. economy. These two goals are in direct conflict
What Is the European Economic and Monetary Union (EMU)? The European Economic and Monetary Union (EMU) combines several of the European Union (EU) member states into a cohesive economic system. It is the successor to the European Monetary System (EMS). Note that there is a difference between the 19-member European Economic and Monetary Union (EMU), and
What Is Encryption? Encryption secures digital data using one or more mathematical techniques known as cryptography. The information input becomes unreadable through encryption as an algorithm converts the original text, known as plaintext, into an alternative form known as ciphertext. When an authorized user needs to read the data, they may decrypt the data using
What Is an Encumbered Security? Encumbered securities (or encumbered assets) are securities that are owned by one entity, but which are at the same time subject to a legal claim by another. A lien is a common example of a en encumbrance placed on a property that still has outstanding debts owed to creditors, such
