What is Gharar? Gharar is an Arabic word that is associated with uncertainty, deception, and risk. It has been described as “the sale of what is not yet present,” such as crops not yet harvested or fish not yet netted. Key Takeaways The word gharar means uncertainty, hazards, or risk.In Islamic finance, gharar is prohibited because
What Is the GHC (Ghanaian Cedi)? GHC is the abbreviation for the Ghanaian cedi, the official currency of the Republic of Ghana. The GHC debuted on July 1, 2007. The Ghanaian cedi may also use the symbol GHS. As of mid-2020, one Ghanaian cedi equaled about 17 U.S. cents. Alternatively, it took about 5.89 Ghanaian
What Is a Ghetto? The term ghetto is a derogatory term for a neighborhood characterized by low property values and relatively little public or private investment. It is a slang term that is generally considered an offensive stereotype because ghettos have historically been inhabited by racial minorities. The term is frequently used for communities with
What Is Ghosting? In finance, ghosting is an illegal practice whereby two or more market makers collectively attempt to influence a stock’s price. Corrupt companies use ghosting to affect stock prices so they can profit from the price movement. This practice is illegal because the law requires market makers to compete, and ghosting is seen as collusion.
What Is Gibson’s Paradox? Gibson’s paradox is based on an economic observation made by British economist Alfred Herbert Gibson regarding the positive correlation between interest rates and wholesale price levels. John Maynard Keynes later called this relationship a paradox because he claimed that it could not be explained by existing economic theories. Key Takeaways Gibson’s
What Is a Canadian Guaranteed Investment Certificate? In Canada, a guaranteed investment certificate (GIC) is a deposit investment sold by Canadian banks and trust companies. People often purchase them for retirement plans because they provide a low-risk fixed rate of return and are insured, to a degree, by the Canadian government. These are marketed in
What Is a Giffen Good? A Giffen good is a low income, non-luxury product that defies standard economic and consumer demand theory. Demand for Giffen goods rises when the price rises and falls when the price falls. In econometrics, this results in an upward-sloping demand curve, contrary to the fundamental laws of demand which create a
What Is a Gift? A gift is property, money, or assets that one person gives to another while receiving nothing or less than fair market value (FMV) in return. Under certain circumstances, the Internal Revenue Service (IRS) collects a tax on gifts. Transfers of money or property that are given freely or exchanged for less
What Is a Gift of Equity? A gift of equity is the sale of a residence to a family member or someone with whom the seller has a close relationship, at a price below the current market value as determined by a professional appraisal. The difference between the actual sales price and the market value
What Is a Gift Causa Mortis? Gift causa mortis is a gift of personal property made with the expectation that the person giving the gift will soon die. Key Takeaways Gift causa mortis is when a person provides a gift to another because they believe that will soon die.This type of gift, unlike a transfer
