Optimal taxOptimal tax theory or the theory of optimal taxation is the study of designing and implementing a tax that maximises a social welfare function subject to economic constraints. The social welfare function used is typically a function of individuals' utilities, most commonly some form of utilitarian function, so the tax system is chosen to maximise the aggregate of individual utilities. Tax revenue is required to fund the provision of public goods and other government services, as well as for redistribution from rich to poor individuals.
External debtA country's gross external debt (or foreign debt) is the liabilities that are owed to nonresidents by residents. The debtors can be governments, corporations or citizens. External debt may be denominated in domestic or foreign currency. It includes amounts owed to private commercial banks, foreign governments, or international financial institutions such as the International Monetary Fund (IMF) and the World Bank. External debt measures an economy's obligations to make future payments and, therefore, is an indicator of a country's vulnerability to solvency and liquidity problems.
Model (person)A model is a person with a role either to promote, display or advertise commercial products (notably fashion clothing in fashion shows) or to serve as a visual aid for people who are creating works of art or to pose for photography. Though models are predominantly female, there are also male models, especially to model clothing. Models may work professionally or casually. Modelling ("modeling" in American English) is considered to be different from other types of public performance, such as acting or dancing.
Venture capitalVenture capital (commonly abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which have demonstrated high growth (in terms of number of employees, annual revenue, scale of operations, etc). Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake.
Debt crisisDebt crisis is a situation in which a government (nation, state/province, county, or city etc.) loses the ability of paying back its governmental debt. When the expenditures of a government are more than its tax revenues for a prolonged period, the government may enter into a debt crisis. Various forms of governments finance their expenditures primarily by raising money through taxation. When tax revenues are insufficient, the government can make up the difference by issuing debt.
Board of directorsA board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws.
Stakeholder theoryThe stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees, suppliers, local communities, creditors, and others. It addresses morals and values in managing an organization, such as those related to corporate social responsibility, market economy, and social contract theory. The stakeholder view of strategy integrates a resource-based view and a market-based view, and adds a socio-political level.
Pataliputra capitalThe Pataliputra capital is a monumental rectangular capital with volutes and Classical Greek designs, that was discovered in the palace ruins of the ancient Mauryan Empire capital city of Pataliputra (modern Patna, northeastern India). It is dated to the 3rd century BCE. The monumental capital was discovered in 1895 at the royal palace in Pataliputra, India, in the area of Bulandi Bagh in Patna, by archaeologist L.A. Waddell in 1895. It was found at a depth of around , and dated to the reign of Ashoka or soon after, to the 3rd century BCE.
Debt reliefDebt relief or debt cancellation is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and freeing of debt slaves. In World War I the United States Treasury made large loans to the allies that were postponed, reduced and finally paid off in 1953. In the late 20th century, it came to refer primarily to Third World debt, which started exploding with the Latin American debt crisis (Mexico 1983, etc.
Fashion showA fashion show (in French défilé de mode) is an event where fashion designers showcase clothes, shoes, and accessories for the upcoming seasons of spring/summer and fall/winter to the media and the general public. The bulk of a fashion show consists of models walking on narrow platforms, also known as catwalks or runways dressed in the designer's latest collection, presenting them to fashion critics, influencers, buyers, and media. The four major fashion weeks in the world, collectively known as the "Big 4", are those in Paris, London, Milan, and New York.
