What Is an Isoquant Curve? An isoquant curve is a concave-shaped line on a graph, used in the study of microeconomics, that charts all the factors, or inputs, that produce a specified level of output. This graph is used as a metric for the influence that the inputs—most commonly, capital and labor—have on the obtainable
What Is an Internet Service Provider (ISP)? The term “internet service provider (ISP)” refers to a company that provides access to the internet to both personal and business customers. ISPs make it possible for their customers to surf the web, shop online, conduct business, and connect with family and friends—all for a fee. ISPs may
What Are Issued Shares? Issued shares are the subset of authorized shares that have been sold to and held by the shareholders of a company, regardless of whether they are insiders, institutional investors, or the general public (as shown in the company’s annual report). Issued shares include the stock a company sells publicly to generate capital
What Is an Issuer Identification Number (IIN)? The issuer identification number (IIN) refers to the first few digits of a payment card number issued by a financial institution. They are typically the first eight digits found on a credit, debit, or another type of payment card. The issuer identification number is unique to the issuer
What Is Italexit (Italeave)? Italexit is a portmanteau of “Italy” and “exit,” is the Italian version of Brexit where the EU’s third-largest economy would potentially leave the European Union (EU). It may also go by the alternative portmanteau Italeave (“Italy” and “leave”). Key Takeaways Italexit, or Italeave, is the term given to the possibility of
What Is an Itemized Deduction? An itemized deduction is an expense that can be subtracted from adjusted gross income (AGI) to reduce your taxable income and therefore lower the amount of taxes that you owe. Such deductions permit taxpayers who qualify to pay less tax than if they had opted to take the standard deduction—a
What Is an Itemized Statement? An itemized statement is a document issued by a financial institution, such as a bank, credit card company, or brokerage firm, to its customers detailing all account activity for a specific period. Statements can be issued in paper form and mailed to a customer, but are commonly sent electronically and
What Is the Iterated Prisoner’s Dilemma? The iterated prisoner’s dilemma is an extension of the general form except the game is repeatedly played by the same participants. An iterated prisoner’s dilemma differs from the original concept of a prisoner’s dilemma because participants can learn about the behavioral tendencies of their counterparty. The iterated prisoner’s dilemma
What Are Ithaca HOURS? The Ithaca HOUR is a local currency issued and used in Ithaca, NY. It is designed to encourage patronage of local businesses in Ithaca and surrounding communities and to prevent that money from leaving the local economy. The value of one HOUR is pegged at $10 and is a time-based currency
What Is an Individual Transfer Quota (ITQ)? An Individual Transfer Quota (ITQ) is a quota imposed on individuals or firms by a governing body that limits the production of a good or service. If the holder of a quota does not produce the maximum amount as set out by the quota, they may transfer the
