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Economics and business

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Implicit cost

An implicit cost, also called an imputed or notional cost, is the opportunity cost of resources a firm already owns and uses, such as unpaid owner labor, with no cash payment.

Implied volatility

Implied volatility is the volatility figure that, plugged into an option pricing model like Black–Scholes, makes the model price match an option's observed market price.

Import

An import is a good or service brought in from the rest of the world, augmenting a country's material resources; world imports reached about $33.7 trillion in 2025.

Import quota

An import quota is a government limit on the quantity of a good that may be imported during a specified period, enforced through licenses, customs thresholds, or tariff-rate quotas.

Import substitution industrialization

Import substitution industrialization (ISI) is a development strategy in which a country builds domestic production of goods it formerly imported, using tariffs, exchange controls, and subsidized credit.

Importance–performance analysis

Importance–performance analysis (IPA) is a survey-based management method, introduced by Martilla and James in 1977, that plots attributes on a four-quadrant grid to guide improvement priorities.

Impossible trinity

The impossible trinity, or inconsistent trinity, holds that a country cannot have a fixed exchange rate, free capital movement, and independent monetary policy all at once.

Improbable

Improbable is a British technology company founded in 2012 by Herman Narula and Rob Whitehead that builds software for large-scale virtual worlds, including SpatialOS and the MSquared metaverse network.

Imran Hakim

Imran Hakim is a Bolton-born optometrist and entrepreneur who founded Hakim Group, which grew from a 2002 Bolton practice to more than 500 opticians across the UK and Ireland.

IMS Nanofabrication

IMS Nanofabrication GmbH is an Austrian manufacturer of multi-beam electron-beam mask writers used to pattern photomasks for advanced chips, founded in Vienna in 1985 and majority-owned by Intel since 2015.

IMU Biosciences

IMU Biosciences is a London-based biotechnology company founded in 2021 by Adam Laing, Tom Hayday, and Mario Cantero, applying high-resolution immune profiling to precision medicine and raising $60 million to date.

Imvax, Inc.

Imvax, Inc. is a clinical-stage biotechnology company in Philadelphia, spun out of Thomas Jefferson University in 2015, developing the personalized cell therapy IGV-001 for glioblastoma.

Ince Capital Partners

Ince Capital Partners is a China-focused venture capital firm founded in 2019 by former Qiming partners JP Gan and Steven Hu, investing in internet, consumer, and technology companies.

Incentive

In economics, an incentive is a reward or punishment, positive or negative, that motivates an agent to take up an activity and guides how they perform it.

Incentive compatibility

Incentive compatibility is a property of a mechanism under which truthful reporting is an equilibrium, introduced by Leonid Hurwicz in 1972 and central to mechanism design.

Inchcape

Inchcape plc is a London-headquartered, London-listed global automotive distributor with about 230 distribution contracts across some 40 markets, managing logistics, marketing, dealer networks, and financing for vehicle brands.

Inco

Inco, or International Nickel Company, was a Canadian mining company formed in 1902 to work the Sudbury basin's nickel ores, bought by Vale in 2006.

Incode

Incode Technologies, Inc. is a San Francisco-based identity verification and authentication company founded in 2015, offering automated document capture, facial biometrics, and liveness detection, and acquiring Identiq and AuthenticID.

Income

Income is the flow of resources a household, person, or sector receives over a period; its definition differs by purpose, changing measured inequality and tax bases.

Income Doubling Plan

The Income Doubling Plan (国民所得倍増計画) was a Japanese government economic plan adopted in 1960 under Prime Minister Ikeda Hayato, targeting a doubling of GNP within ten years.

Income effect

The income effect is the change in the quantity of a good demanded that results from a price change altering the consumer's purchasing power, distinct from the substitution effect.

Income elasticity of demand

Income elasticity of demand, also called Engel elasticity, measures the percentage change in quantity demanded for a percentage change in income, classifying goods as necessities, luxuries, or inferior goods.

Income inequality in the United States

Income inequality in the United States is the uneven distribution of income among US households, measured by the Gini index, top income shares, and percentile ratios.

Income statement

The income statement, also known as the profit and loss statement or P and L, is a financial statement reporting a company's revenues, expenses, gains, and losses over a period.

Income tax

Income taxation is a tax levied directly on individual and entity income, applied through graduated rates after deductions and credits; it is the largest US federal revenue source.

Income tax in the United States

The federal income tax in the United States is a graduated tax on individual income, with rates from 10% to 37%, the largest source of federal revenue.

Incomes policy

An incomes policy is a set of government measures restraining increases in wages and prices, used as an adjunct to fiscal and monetary policy to fight inflation.

Incomplete contracts

Incomplete contracts are agreements that leave some future contingencies unspecified because parties cannot describe or verify all states of the world, shaping theories of firm ownership and hold-up.

Incomplete markets

Incomplete markets are markets in which traded assets do not span all future contingencies, so some risks cannot be insured, and competitive equilibria may not exist or be Pareto optimal.

InCred

InCred is a Mumbai-headquartered financial services group founded by Bhupinder Singh in 2016, whose core business is InCred Financial Services, an RBI-registered non-banking finance company engaged in technology-driven alternative lending.