DUTY Definition

DUTY is a tax imposed by a customs authority on imported goods. Often used interchangeably with the term "tariff."

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DISCOUNT RATE, generally, it is a rate of return (cost of capital) used to convert a monetary sum, payable or receivable in the future, into present value.  In finance, it is the interest rate that the Federal Reserve of the U.S. Government charges a U.S. bank to borrow funds when a bank is temporarily short of funds. Collateral is necessary to borrow, and such borrowing is quite limited because the Fed views it as a privilege to be used to meet short-term liquidity needs, and not a device to increase earnings.

CORE COMPETENCY is a specific factor that a business believes as being central to the way it, or its employees work. A core competency normally fulfils three key criteria:

• It provides customer benefits
• It is not easy for competitors to imitate or duplicate
• It can be leveraged widely to many products and markets.

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