Leasing
The practice of hiring items of equipment, rather than buying them outright
Least Developed Countries
An overview of the Least Developed Countries (LDCs) as designated by the United Nations.
Least Squares
A method of estimation in econometric models minimizing the sum of squared differences.
Legal Tender
Forms of money which a creditor is legally obliged to accept in settlement of a debt.
Leisure - Definition and Meaning
Time spent not working and regarded as a consumption good from which utility is derived in economic models.
Lemon
An unsatisfactory product where quality cannot reliably be checked before purchase.
Lender of Last Resort
The function of providing liquidity for the banking system at times of crisis by the central bank.
Leontief Paradox
Observation by Wassily Leontief that the US, despite being capital-rich, had exports that were more labor-intensive than its imports, contrary to the Heckscher-Ohlin model's predictions.
Less Developed Countries (LDCs)
An examination of Less Developed Countries (LDCs), including their classification, developmental indicators, and geographical distribution according to the United Nations.
Leveraging
Leveraging refers to using borrowed funds to finance an investment.