Business modelA business model describes how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts. The process of business model construction and modification is also called business model innovation and forms a part of business strategy. In theory and practice, the term business model is used for a broad range of informal and formal descriptions to represent core aspects of an organization or business, including purpose, business process, target customers, offerings, strategies, infrastructure, organizational structures, sourcing, trading practices, and operational processes and policies including culture.
CashIn economics, cash is money in the physical form of currency, such as banknotes and coins. In bookkeeping and financial accounting, cash is kept in a wallet. Current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately (as in the case of money market accounts). Cash is seen either as a reserve for payments, in case of a structural or incidental negative cash flow or as a way to avoid a downturn on financial markets.
Solar timeSolar time is a calculation of the passage of time based on the position of the Sun in the sky. The fundamental unit of solar time is the day, based on the synodic rotation period. Traditionally, there are three types of time reckoning based on astronomical observations: apparent solar time and mean solar time (discussed in this article), and sidereal time, which is based on the apparent motions of stars other than the Sun. A tall pole vertically fixed in the ground casts a shadow on any sunny day.
Mobile paymentA mobile payment, also referred to as mobile money, mobile money transfer and mobile wallet, is any of various payment processing services operated under financial regulations and performed from or via a mobile device, as the cardinal class of digital wallet. Instead of paying with cash, cheque, or credit cards, a consumer can use a payment app on a mobile device to pay for a wide range of services and digital or hard goods.
E-commerce payment systemAn e-commerce payment system (or an electronic payment system) facilitates the acceptance of electronic payment for offline transfer, also known as a subcomponent of electronic data interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking. Credit cards remain the most common forms of payment for e-commerce transactions. As of 2008, in North America, almost 90% of online retail transactions were made with this payment type.
MoneyMoney is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value.
Financial servicesFinancial services are economic services provided by the finance industry, which together encompass a broad range of service sector firms that provide financial management, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual asset managers, and some government-sponsored enterprises.
MonthA month is a unit of time, used with calendars, that is approximately as long as a natural orbital period of the Moon; the words month and Moon are cognates. The traditional concept arose with the cycle of Moon phases; such lunar months ("lunations") are synodic months and last approximately 29.53 days, making for roughly 12.37 such months in one Earth year. From excavated tally sticks, researchers have deduced that people counted days in relation to the Moon's phases as early as the Paleolithic age.
Planck constantThe Planck constant, or Planck's constant, is a fundamental physical constant of foundational importance in quantum mechanics. The constant gives the relationship between the energy of a photon and its frequency, and by the mass-energy equivalence, the relationship between mass and frequency. Specifically, a photon's energy is equal to its frequency multiplied by the Planck constant. The constant is generally denoted by . The reduced Planck constant, or Dirac constant, equal to divided by , is denoted by .
Limited liability companyA limited liability company (LLC for short) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation under state law; it is a legal form of a company that provides limited liability to its owners in many jurisdictions.
SpeedIn everyday use and in kinematics, the speed (commonly referred to as v) of an object is the magnitude of the change of its position over time or the magnitude of the change of its position per unit of time; it is thus a scalar quantity. The average speed of an object in an interval of time is the distance travelled by the object divided by the duration of the interval; the instantaneous speed is the limit of the average speed as the duration of the time interval approaches zero.
Demand for moneyIn monetary economics, the demand for money is the desired holding of financial assets in the form of money: that is, cash or bank deposits rather than investments. It can refer to the demand for money narrowly defined as M1 (directly spendable holdings), or for money in the broader sense of M2 or M3. Money in the sense of M1 is dominated as a store of value (even a temporary one) by interest-bearing assets. However, M1 is necessary to carry out transactions; in other words, it provides liquidity.
