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SAVINGS ACCOUNTS: Accounts maintained by banks, savings and loan associations, credit unions, and mutual savings banks that pay interest but can not be used directly as money. These accounts, also termed transactions deposits, let customers set aside a portion of their liquid assets that COULD be used to make purchases. But to make those purchases, savings account balances must be transferred to checkable deposits or currency. However, this transference is easy enough that savings accounts are often termed near money. Savings accounts, as such constitute a sizeable portion of the M2 monetary aggregate.
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FIRST RULE OF SCARCITY The first of seven basic rules of the economy, stating that the world is faced with limited resources but unlimited wants and needs satisfied from these resources. Scarcity is THE economy problem upon which the entire study of economics is built. A primary implication of scarcity is that the pursuit of an activity results in an opportunity cost.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"Success is more a function of consistent common sense than it is of genius. " -- An Wang, industrialist
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DBD
Declining Balance Depreciation
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