Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. They write new content and verify and edit content received from contributors.
multinational corporation (MNC), any corporation that is registered and operates in more than one country at a time. Generally the corporation has its headquarters in one country and operates wholly or partially owned subsidiaries in other countries. Its subsidiaries report to the corporation’s central headquarters.
In economic terms, a firm’s advantages in establishing a multinational corporation include both vertical and horizontal economies of scale (i.e., reductions in cost that result from an expanded level of output and a consolidation of management) and an increased market share. Although cultural barriers can create unpredictable obstacles as companies establish offices and production plants around the world, a firm’s technical expertise, experienced personnel, and proven strategies usually can be transferred from country to country. Critics of the multinational corporation usually view it as an economic and, often, political means of foreign domination. Developing countries, with a narrow range of exports (often of primary goods) as their economic base, are particularly vulnerable to economic exploitation. Monopolistic practices, human-rights abuses, and disruption of more-traditional means of economic growth are among the risks that face host countries.
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balance of payments, systematic record of all economic transactions between residents of one country and residents of other countries (including the governments). The transactions are presented in the form of double-entry bookkeeping.
In January 1996, the Britannica was purchased from the Benton Foundation by billionaire Swiss financier Jacqui Safra, who serves as its current chair of the board.
Unfortunately the only really collectible Britannica sets are the the 9th and 11th editions. Full sets of the 15th, like yours, are readily available from retail resellers from $150 to $200. These prices closely reflect actual completed sales of these volumes.
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In 2012, after 244 years, Britannica ended the print editions, with the 32 volumes of the 2010 installment being the last on paper; future editions have been published exclusively online since.
The Encyclopedia Britannica, which has been in continuous print since it was first published in Edinburgh, Scotland in 1768, said Tuesday it will end publication of its printed editions and continue with digital versions available online.
Old encyclopedias are attracting collectors primarily for two reasons: scarcity and information. As is the case with all rare books and other collectibles, the more scarce an edition is, the more likely it is to have a bigger spread between supply and demand, and thus the higher the monetary value.
Encyclopædia Britannica also argued that a breakdown of the errors indicated that the mistakes in Wikipedia were more often the inclusion of incorrect facts, while the mistakes in Britannica were "errors of omission", making "Britannica far more accurate than Wikipedia, according to the figures".
I'll now primarily rely on the Britannica. It's a trusted source. I'm sure it has its academic bias, but at least each entry is written by multiple scholars, curated by editors, and updated by a team of scholars and editors.
bill of exchange, short-term negotiable financial instrument consisting of an order in writing addressed by one person (the seller of goods) to another (the buyer) requiring the latter to pay on demand (a sight draft) or at a fixed or determinable future time (a time draft) a certain sum of money to a specified person ...
The balance of payments (BOP) is the method by which countries measure all of the international monetary transactions within a certain period. The BOP consists of three main accounts: the current account, the capital account, and the financial account.
The term "balance of payments" often refers to this sum: a country's balance of payments is said to be in surplus (equivalently, the balance of payments is positive) by a specific amount if sources of funds (such as export goods sold and bonds sold) exceed uses of funds (such as paying for imported goods and paying for ...
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