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A white elephant at the Amarapura Palace in 1855. A white elephant is a possession that its owner cannot dispose of without extreme difficulty, and whose cost, particularly that of maintenance, is out of proportion to its usefulness. In modern usage, it is a metaphor used to describe an object, construction project, scheme, business venture ...
A white elephant gift exchange, [1] Yankee swap [2] or Dirty Santa [3] [nb 1] is a party game where amusing and impractical gifts are exchanged during Christmas festivities. The goal of a white elephant gift exchange is to entertain party-goers rather than to give or acquire a genuinely valuable or highly sought-after item. [ 3 ]
The gift-exchange game, also commonly known as the gift exchange dilemma, is a common economic game introduced by George Akerlof and Janet Yellen to model reciprocacy in labor relations. [1] The gift-exchange game simulates a labor-management relationship execution problem in the principal-agent problem in labor economics. [ 2 ]
A "white elephant" is generally something that's expensive to maintain and hard to sell or get rid of — more trouble than it's worth, in other words. The phrase is widely regarded coming from a ...
White Elephant Gifts Under $5(ish) Old Navy. Text-Friendly Gloves for Women. You can't go wrong with a good ol' pair of gloves. It's something everyone can use this time of year!
Below, shop 35 white elephant gift ideas—some funny, some useful, some thoughtful—that have potential to be the best gift in the pile. Voluspa Limited Edition Japonica Mini Candle , $10 ...
White elephant sales are typically organized by non-profit organizations such as churches and schools to raise money for a charity cause or a special occasion like Easter or Mother's Day. They operate in a manner similar to many non-profit thrift shops. Members or friends of the organization holding the white elephant sale will donate old items ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...