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| Term | Definition |
|---|---|
| Wage | The payment or compensation received by a worker in exchange for their labor or services. Wages can be fixed or variable and are typically paid on an hourly, weekly, or monthly basis. |
| Wealth | The total value of assets owned by an individual, company, or nation, including real estate, financial investments, and tangible possessions. Wealth is a broader measure than income, as it includes accumulated assets. |
| Welfare Economics | A branch of economics that evaluates the overall well-being of a society by analyzing the distribution of resources and the efficiency of economic activities. It often involves assessing policies for their impact on social welfare. |
| White Knight | In the context of corporate finance, a white knight refers to a friendly or benevolent entity that comes to the aid of a target company facing a hostile takeover attempt. The white knight is a rescuer preferred by the target company. |
| World Bank | An international financial institution that provides financial and technical assistance to developing countries for projects aimed at reducing poverty, promoting economic development, and improving infrastructure. |
| Workforce | The total number of workers or employees in a specific industry, company, or country. It encompasses both skilled and unskilled labor across various sectors. |
| Working Capital | The difference between a company’s current assets and current liabilities, representing the funds available for day-to-day operations. Working capital is crucial for maintaining smooth business operations. |
| World Trade Organization (WTO) | An international organization that regulates and facilitates global trade. The WTO establishes rules for trade agreements, resolves trade disputes, and promotes fair and open trade practices among its member countries. |
| Welfare State | A political and economic system in which the government plays a significant role in providing social services and financial assistance to its citizens. Welfare states aim to address issues such as healthcare, education, and unemployment. |
| Wildcat Strike | A sudden and unauthorized work stoppage or strike by a group of workers without formal approval from the labor union. Wildcat strikes are often initiated as a protest against unfavorable working conditions. |
| Withholding Tax | A tax deducted at the source before the income is paid to the recipient. Commonly applied to wages and investment income, withholding tax ensures that a portion of income is remitted to the government. |
| Windfall Profit | Unexpected and unusually high profits obtained by a company or individual due to external factors, such as a sudden increase in demand, regulatory changes, or favorable market conditions. |
| World Economic Forum (WEF) | An international organization that organizes the annual meeting in Davos, Switzerland, bringing together political, business, and academic leaders to discuss global economic and social issues. |
| Weak Currency | A currency that has depreciated or has a lower exchange rate compared to other currencies. A weak currency may impact international trade by making exports more competitive but imports more expensive. |
| Wholesale Price Index (WPI) | A measure of the average change in the prices of goods at the wholesale level. The WPI is used to track inflation and economic trends and serves as an indicator of price movements in the early stages of the supply chain. |
| Wage Inflation | An increase in wages across the labor market, leading to higher labor costs for businesses. Wage inflation can be influenced by factors such as increased demand for skilled labor or changes in labor market dynamics. |
| Weighted Average Cost of Capital | (WACC): A financial metric that calculates the average cost of a company’s various sources of capital, including equity and debt. WACC is used to evaluate the cost of financing for investment projects. |
| Work-Life Balance | The equilibrium between an individual’s professional and personal life, aiming to maintain a healthy and fulfilling lifestyle while meeting work commitments. |
| Welfare Dependency | A situation where individuals or households rely heavily on government welfare programs for their financial support, leading to a sustained dependency on public assistance. |
| World Health Organization (WHO) | A specialized agency of the United Nations responsible for international public health. The WHO works to address global health issues, coordinate responses to epidemics, and promote healthcare access. |