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SICSee: Standard Industrial ClassificationSIC Similar MatchesSickness insuranceSickness insuranceSee: 'permanent health insurance', 'personal accident' and 'sickness insurance'. Exchange for physicalsExchange for physicalsA transaction in which one party buys the physical commodity and simultaneously sells futures and the other party does the opposite - sells the physical commodity and simultaneously obtains a long futures position. NeoclassicalNeoclassicalA collection of assumptions customarily made by mainstream economists starting in the late 19th century, including profit maximization by firms, utility maximizaiton by consumers, and market equilibrium, with corresponding implications for determination of factor prices and the distribution of income. Contrasts with classical, Keynesian, and Marxist. Basic balanceBasic balanceOne of the more frequently used measures of the balance of payments surplus or deficit under pegged exchange rates, the basic balance was equal to the current account balance plus the balance of long-term capital flows. Basic rate taxBasic rate taxThe main rate of income tax in the UK, which for the year 2003-2004 is 22%. The rate is applied to each individual's Taxable Income which is calculated as:Income - Reliefs - AllowancesThe basic rate is only applied to the income between £1,961 and £30,500, as the following table illustrates.£1-£1,960: tax rate is 10% (starting rate) - tax on band is £196£1,961-£30,500: tax rate is 22% (basic rate) - tax on band is £6,278.58Over £30,500: tax rate is 40% (higher rate) Further SuggestionsBasic IRR rulebasic sum assured statutory sick pay (SSP) Intrinsic value National Insurance (NI) Basic Pension personal accident and sickness insurance Options on physicals physicals Basic balance Basic import price Physical commodity sickness benefit intrinsic value basic state pension Intrinsic value of an option Absolute Physical Life Accident, Sickness and Unemployment insurance Physical option Basic business strategies extrinsic value Basic valuation Securities Industry Committee on Arbitration (SICA) Physical capital Neoclassical economics Neoclassical growth model |
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