Archive for the ‘Glossary’ Category

(1) It is a term used for a time draft (or bill of exchange) which has been accepted by the drawee and is unconditionally obligated to pay at maturity. The said draft should be presented first for acceptance - the drawee becomes the "acceptor" - then for the payment. The word "accepted" and the date and place must be written on the face of the ... Full story

A country has an absolute advantage if its output per unit of input of all goods and services produced is higher than that of another country. ประเทศมีประโยชน์แน่นอนถ้ามีผลผลิตต่อหน่วยของอินพุตทั้งหมดสินค้าและบริการการผลิตสูงกว่าที่ประเทศอื่น Full story