1. Externality is a term of economics and it is defined by, "a consequence of an industrial or commercial activity which affects other parties without this being reflected in market prices, such as the pollination of surrounding crops by bees kept for honey." Broadly speaking, externality can be descriRead more

    Externality is a term of economics and it is defined by, “a consequence of an industrial or commercial activity which affects other parties without this being reflected in market prices, such as the pollination of surrounding crops by bees kept for honey.” Broadly speaking, externality can be described as an impact of one’s actions on others or we can say that it is the cost or benefit that affects a third party who did not choose to incur that cost or benefit. An externality can be both positive or negative and can stem from either the production or consumption of a good or service.

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  2. Its not that common now, I think because of two major reasons. Firstly because the means of transaction and contract has changed overtime; a lot of this work is done electronically which makes the contract strong and legally binding. Although its not illegal but we can't deny that it is still unfairRead more

    Its not that common now, I think because of two major reasons. Firstly because the means of transaction and contract has changed overtime; a lot of this work is done electronically which makes the contract strong and legally binding. Although its not illegal but we can’t deny that it is still unfair and we do need to stick by some moral values. Secondly, this practice is more often followed in slow property markets and clearly I don’t see anything slow happening these days. It might still happen if you are being ignorant or unaware so do all you can to keep the process moving along as quickly as possible. This means being in regular contact with your mortgage broker and conveyancing solicitor to ensure they respond quickly to requests for information.

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  3. The opposite of gazumping is gazundering. This is a practice of deducting the amount of the purchase price you have offered on a property after your original offer has been accepted. This is usually done during the contract negotiations before any written contract is signed. It happens when a buyerRead more

    The opposite of gazumping is gazundering. This is a practice of deducting the amount of the purchase price you have offered on a property after your original offer has been accepted. This is usually done during the contract negotiations before any written contract is signed. It happens when a buyer decides at the last minute to drop his offer. It means that seller is then left to either accept less or find new buyers. It is more common in a slow property or depressed market where there are more sellers than there are buyers although it may also reflect a genuine downturn in property prices in a specific area.

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  4. Hey Aakash, this would totally depend upon where this event occur. If you see it happening in England or Wales then yes it is absolutely legal. It could be because an agreement to buy or sell a property is not legally binding until the contracts are written and exchanged. Until this exchange occurs,Read more

    Hey Aakash, this would totally depend upon where this event occur. If you see it happening in England or Wales then yes it is absolutely legal. It could be because an agreement to buy or sell a property is not legally binding until the contracts are written and exchanged. Until this exchange occurs, the 2 parties cannot be held to a previous verbal agreement. Broadly speaking, you can be gazumped if the seller rejects your offer in favour of another buyer’s for any reason, not necessarily money. For instance, if you are experiencing delays with your mortgage application, the seller may decide to accept an alternative offer from a buyer who already has a mortgage offer in place, in order to facilitate a quicker sale.

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  5. According to wikipedia, "Gazumping occurs when a seller (especially of property) accepts a verbal offer (a promise to purchase) on the property from one potential buyer, but then accepts a higher offer from someone else." In simple terms it refers to making a higher offer for a house than the buyerRead more

    According to wikipedia, “Gazumping occurs when a seller (especially of property) accepts a verbal offer (a promise to purchase) on the property from one potential buyer, but then accepts a higher offer from someone else.” In simple terms it refers to making a higher offer for a house than the buyer whose offer was already accepted by the seller and thus succeed in acquiring the property. Although this can also intend that the seller raises the asking price or asks for more money at the last minute, after previously verbally agreeing to a lower one.

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  6. A regression analysis tells how much a variable has impact on another variable. It is a technique that allows you to measure the relation between variables. With regression analysis you can determine which factors affect the most for your matter of study. To conduct regression analysis you need to dRead more

    A regression analysis tells how much a variable has impact on another variable.
    It is a technique that allows you to measure the relation between variables.
    With regression analysis you can determine which factors affect the most for your matter of study.
    To conduct regression analysis you need to determine the independent and dependent variables. Dependent variables are the factors that we whose impact we try to determine on the dependent variable.

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  7. Cluster analysis is classification of cases into relative groups. These groups are called clusters. The number of groups or clusters are not known on prior basis in cluster analysis. Cluster analysis is generally used in marketing for the purpose pf segmentation of customers. Cluster analysis can beRead more

    Cluster analysis is classification of cases into relative groups. These groups are called clusters. The number of groups or clusters are not known on prior basis in cluster analysis.
    Cluster analysis is generally used in marketing for the purpose pf segmentation of customers.
    Cluster analysis can be used to identify homogeneous groups of buyers.

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  8. Going by the definition: "Grey swan is a term used to describe a potentially very significant event that is considered unlikely to happen but still possible. Because there is a slight chance the event will occur it should be anticipated, particularly as it could shake up the world, economy, and stocRead more

    Going by the definition: “Grey swan is a term used to describe a potentially very significant event that is considered unlikely to happen but still possible. Because there is a slight chance the event will occur it should be anticipated, particularly as it could shake up the world, economy, and stock market.”
    Broadly speaking, we can say that a grey swan is a highly probable event with three principal characteristics. Firstly, it is predictable. Secondly it carries an impact that can easily cascade; and lastly we concoct an explanation that recognizes the probability of occurrence, but shifts the focus to errors in judgment or some other human form of causation. These can be positive or negative and significantly alter the way the world operates, which is why we are urged to take them seriously. some of the examples of grey swans include climate change, population growth, and rising debt.

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  9. Although these events are unforeseen, there are few strategies you could try in order to prevent yourself from it. The hazard avoidance is often a purposeful strategy during the site-selection process and is exercised through a set of guiding principles based on continually updated prior experiencesRead more

    Although these events are unforeseen, there are few strategies you could try in order to prevent yourself from it. The hazard avoidance is often a purposeful strategy during the site-selection process and is exercised through a set of guiding principles based on continually updated prior experiences. Buildings have long been sited away from flood-prone locations, whatever the cause of flooding may be. You may also consider the risk management techniques. There are three categories that I believe we should apply risk management principles to including; 1) threats to the energy grid and critical infrastructure, 2) bio-terrorism and pandemics, and 3) the potential of malevolent artificial intelligence. Things like non-nuclear power plants have also been subjected to intrusions and breaches. A hack in Ukraine was held up as a prime example. In December 2015, hackers breached the IT systems of the electricity distribution company Kyivoblenergo in Ukraine, causing a three-hour power outage. Hence you need to understand all the possibilities that might lead to downfall of your economy, assess them and prepare yourself for it.

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  10. There are different meanings drawn out of it and black swans could signify diverse things as written by a number of people. Universally, Swan is the archetype of grace and beauty. Black Swan is a graceful reminder to move from any position where you feel powerless and at the mercy of external forcesRead more

    There are different meanings drawn out of it and black swans could signify diverse things as written by a number of people. Universally, Swan is the archetype of grace and beauty. Black Swan is a graceful reminder to move from any position where you feel powerless and at the mercy of external forces; it is time to reclaim your personal power.
    Although in business terms it means something which is totally opposite of what has been said philosophically. A black swan in business symbolizes an unforeseen event which has the power to create destruction and bring catastrophic damage to the economy. They are difficult to deal with as they are unpredictable and no preventing measures could help.

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