N

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Nagware - Also known as Begware. Computer shareware that periodically displays messages on your computer screen prompting you to register for a product and/or pay a fee.

Naked Debenture - Also known as Uncovered Debenture. A company's loan or debt which is not backed by any security, i.e., the company's assets.

Narrow Money - Also called M1. A country's money supply which can be exchanged, for example coins, bank notes, bank cheques, travellers cheques, etc.

National Brand  - A brand or product which is available nationwide rather than a local brand which is available in only one area of the country.

National Debt - The total amount of money owed by a nation's government.

National Insurance - (NI) In the UK, contributions made to the government by employers and employees which provide payments to the sick, retired and unemployed.

Nationalise/Nationalize - (UK/US English spellings) To convert a business or industry from private ownership to government control and ownership.

Natural Wastage - In business, the process of reducing the number of employees by not replacing those who have left their jobs, rather than by redundancy or dismissal.

Non-Departmental Public Body - Also known as Quangos (Quasi-Autonomous Non- Governmental Organisations) In the UK, organisations which are not government departments but are accountable to Parliament and are financed by the government to deal with public matters, e.g., Health Trusts.

Negative Certificate Of Origin - A document which states that goods, or any part of the goods, were not produced in a country from which the buyer refuses to accept goods or produce.

Negative Equity - A term commonly used in the property market during a recession when a property is worth less in value than the outstanding balance of the loan with which it was purchased. This usually only affects the borrower if they need to sell the property during this time.

Negative Growth - A term used to describe a recession. The opposite of economic growth.

Negative Inventory  - A situation where a mistake in the ordering system or transactions of a business shows the stock to be less than zero. Sometimes this is done deliberately to reduce costs.

Negotiating Table - Describes formal discussions where agreements are trying to be reached.

Neologism - A word or expression which has been newly invented but is not yet in common use, or an old word which has a new meaning. There are a few in this very dictionary listing.

Nepotism - In business and organizations, nepotism refers to those in power showing favouritism towards friends and family, for example by giving them jobs because of their relationship rather than their abilities. The word came into English from French in the mid-1600s and originally derives from the Italian nipote, nephew, and the tradition of giving privileges to the 'nephews' of popes, who were typically actually illigitimate sons. Nepotism is a common source ofconflict of interest.

Nest Egg - A sum of money which someone has saved for the future.

Net Assets - The total assets of a company or individual minus all liabilities (debts).

Net-Centric - Activities, communities, services, information, etc., interconnected by the Internet.

Netiquette - A set of informal rules and regulations that govern Internet etiquette, i.e., the acceptable behaviour of people on the World Wide Web.

Net Lending - The total amount of funds lent by a bank or building society over a certain period, minus any repayments made by borrowers.

Net Price - The price payable for goods or services after any deductions, discounts, etc., have been taken off.

Net Profit Margin - Usually expressed as a percentage, in business, the money earned after costs, expenses, taxes, etc., have been deducted.

Networker - A person who meets and builds relationships with other people in order to make business or social contacts.

Net Yield - The profit from an investment after taxes, costs and all other expenses have been deducted.

Newbie - A newcomer or novice at something, especially on the Internet.

New Issue - On the Stock Market, a share or bond which is offered to the public for the first time.

Next-Generation - Term used to describe a product or technology which has been improved or upgraded so that the newest version is much more advanced than previous versions.

Niche Market - A specialised market in which a specific product is sold to a particular type or group of customers. A product or service for which there is sometimes little demand and often little or no competition.

Nielsen Rating - In the US, a system which measures TV audiences, i.e., which programmes are watched by which type of person. Companies use this information to decide when to advertise their products, and TV companies use this information to set prices for advertisement slots.

NIH Syndrome  - Not Invented Here. A term used for companies who reject ideas or products which are not theirs because they originated from outside the company.

Nikkei Index - A share price index for the 225 stocks traded on the Tokyo Stock Exchange in Japan.

No-Load Fund - A fund which does not impose a sales or commission fee on the investor for the buying and selling of stocks and shares.

Nominal Damages - A very small sum of money awarded by a court to the plaintiff when no real damage or harm was caused by the defendant, who has to pay the damages, usually $1 or £2.

Non-Callable - Also known as Bulletbond. A bond or stock which cannot be redeemed by the issuer before a particular date or until maturity.

Non-Compliance - Failure or refusal to obey or comply with a rule, regulation or standard, which can commonly result in serious action by an inspector or ombudsman.

Non-Disclosure - A signed formal agreement in which one party agrees to keep certain information secret. Often used in business when products or projects are being developed.

Non-Executive - In business, a member of a board of directors or a consultant who is not an employee of a company but who gives independent advice.

Non-Executive Director - Also called Outside Director. A person who is an independent member of a company's board of directors, i.e., they are not an employee of the company and are therefore not responsible for the day to day operations of the company but monitor the activities of the full time executives.

Nonfeasance - Failure to perform a duty or carry out an act when under legal obligation.

Non-pc - Language or an action which is considered not to be politically correct, i.e., potentially offensive, especially to a minority group of some sort.

Non-Recourse Debt - A type of loan or debt in which the borrower is not personally liable to the lender. If the borrower fails to make repayments the lender can only take back what was bought with the loan and none of the borrowers other assets.

Non Sequitur - in communications/debate, logic, and notably the law, non sequitur basically refers to a conclusion which is false or unsupported by its argument. In literature or comedy non sequitur refers more specifically to a statement which does not relate to what precedes it in a bizarre and often amusing way - a funny example of non sequitur humour/humor is Monty Python's Holy Grail 'Burn the witch' sketch in which a series of non sequitur conclusions are used: (paraphrased) "...You burn witches; wood also burns; so witches are made of wood. Wood floats; a duck also floats; so a witch weighs the same as a duck..." In politics we frequently hear non sequitur arguments and justifications routinely used by politicians and disguised to seem like logical rational reason, when in fact the argument/justification completely fails to support the conclusion, and bluff with force/confidence/arrogance of delivery is effectively the most persuasive factor.

Non-Tariff Barrier - (NTB) A type of non-tax trade restriction on imported goods which is used to make it difficult for certain goods to be taken into a country.

Nosedive - A sudden drop or plunge in prices, values, etc.

Notary - A person, usually a solicitor, officially authorised to witness signatures and certify legal documents.

Notebook - A very small portable computer.

Not Enough Bandwidth - Term which is used when there are not enough people and/or enough time to get a job done.

Notice Of Deficiency - In the US, an official document sent to a taxpayer which shows that they owe more tax than has been declared on their tax form.

Notice Period - The period of time during which an employee must work between resigning from and leaving their place of work.

No-Win No-Fee - Conditional Fee Agreement. An agreement with your solicitor in which you don't have to pay their fee if your court case is not successful.

Not-Spot - An area of poor or lack of coverage in cellphone service or similar communications technology.

Nudge Theory - a modern concept and 'instrument' of social influence, used by governments, state organizations and commercial corporations, chiefly attributed to US professor of economics/behavioral science Richard Thaler, popularized by the 2008 book 'Nudge: Improving Decisions About Health, Wealth, and Happiness', by R Thaler and Cass R Sunstein. Nudge Theory, or simply 'Nudge', employs principles/techniques of suggestion, positive accentuation, situational/environmental adjustment, support, reward, etc., in altering behaviour/behavior of social groups, populations, audiences, etc. Methods are based on the careful design of communication and relationship between the influencer and the target group, often applied with great subtlety and sophistication. Many of the tactics are hardly noticeable, and target groups will commonly not perceive remotely that their actions and attitudes have been influenced at all. The sense is one of achieving a big beneficial/advantageouos change by exerting often a tiny but crucial influence at a crucial point in the decision-making process, or at a pivotal stage, so as to produce a major change-effect. Nudge theory is to an extent counter-intuitive because it seeks to achieve influence more effectively than traditional strategies involving forceful instruction, threat, legal action or other enforcement. A simple example of Nudge Theory is breaking a challenging process down into easier-to-achieve smaller steps; or re-wording an official application form so that it is easier to read. More complex examples are: the organizing of road-sweeping and other litter-cleaning/chewing-gum removal at highly visible times, to maximize public awareness of litter problems/effects, thereby reducing littering; also the tactic of offering loft-clearance services to enable and increase acceptance/uptake of loft-insulation improvements. Both examples motivate potentially large behavioural shifts towards a specific challenging aim by using a related indirect stimulus of a less challenging, appealing, or non-threatening nature. Freedom of choice and absence of pressure are two important aspects of nudge theory. Nudge principles were also originally based firmly on being ethical and helping people, rather than exploiting them. Essentially nudge theory works because it provides easier ways for people to make and implement change decisions.

Number Cruncher - An accountant or person who's job is working with numbers, and who is able to do large calculations. A computer which can perform complex calculations in a short time.

Numbered Account - Often called a Swiss Bank Account. An account, offered by certain banks, which can only be identified by a number, so the account holder is known only to a restricted number of the bank's employees.

NVQ - National Vocational Qualification. In the UK, a qualification with no age limits, that does not have to be completed in a specified time, which reflects the skills and knowledge required to perform a particular job competently.

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