Glossary
Volatility
A measure of the intensity and frequency of price or value changes of a given asset, market, or financial instrument over a specified period of time. High volatility indicates strong and sharp fluctuations that create both opportunities for profit and risk of loss, while low volatility indicates stable and less variable prices. Volatility is one of the main indicators of market risk and is used in evaluating investment strategies, portfolio management, and financial planning.
Voluntary Health Insurance
A system in which individuals, of their own choice, can take out insurance with licensed insurance companies or make additional contributions for healthcare services beyond the mandatory health insurance. These funds are used to cover additional medical services, extended preventive check-ups, partial funding of treatment, and other healthcare services not fully covered by mandatory health insurance.
Voluntary Pension Fund (VPF)
A fund for additional voluntary pension insurance, in which any person can participate at their own discretion with personal contributions or contributions made by their employer. The funds accumulate in individual accounts and are invested by a licensed pension insurance company.
Voluntary Pension Fund with Occupational Schemes (VPFOS)
A special voluntary pension fund established to provide additional occupational pension benefits under a scheme agreed between the employer and employees or their representatives (e.g. trade union). Participation in such a fund is voluntary and collective, with the terms of membership, contribution amounts, and rights of the insured persons defined in an agreement between the employer and employees. These funds are managed by licensed pension insurance companies, and the accumulated assets are used to pay additional pensions according to the conditions set out in the occupational scheme.
Wants
Needs or preferences that are not essential for survival but contribute to greater comfort and enjoyment in daily life. Examples include a new phone, branded clothing, a trip abroad, the latest model car or dining at an expensive restaurant.
Wants - glossary for children
Goods and services that a person wants because they are pleasing and enjoyable to them, but are not necessary for living.
Warranty Card
A document received when purchasing goods (usually electronics, appliances, or equipment) certifying that the product is covered by a manufacturer’s or seller’s warranty for a specified period. It entitles the holder to free repair, replacement, or service if the product malfunctions not due to the buyer’s fault within the warranty period.
Weight of the Insurable Length of Service
A numerical coefficient that determines the contribution of each year of insurance service when calculating the amount of a pension. It indicates what portion of the insured person’s earnings is taken into account for each year of service and directly affects the final pension.
Wholesale Price - glossary for children
The price shops pay when buying goods in large amounts from producers or wholesalers.
Wholesaler - glossary for children
A person or business that buys large quantities of goods from producers or manufacturers and sells them to shops, not directly to people.
Partners
