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BUYERS' EXPECTATIONS: One of the five demand determinants assumed constant when a demand curve is constructed, and that shift the demand curve when they change. The other four are income, preferences, other prices, and number of buyers. If buyers expect the future price will be greater, then they're likely to buy more today, to avoid the higher future price. Alternatively, if buyers expect a lower future price, then they're likely to buy less today, awaiting the lower price. A higher future price induces an increase in demand and a lower future price induces a decrease in demand.
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OWNERSHIP LIABILITY The extent to which the owners of a business are liable for the debts of the company. The two basic liability alternatives are unlimited liability, which has no restrictions on ownership liability, and limited liability, which does have restrictions. Ownership liability is one characteristic separating legal business organizations. Proprietorships and partnerships have unlimited liability. Corporations have limited liability.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages hoping to buy either a flower arrangement for that special day for your mother or a New York Yankees baseball cap. Be on the lookout for pencil sharpeners with an attitude.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"Experience keeps a dear school, but fools will learn in no other. " -- Benjamin Franklin
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LIBOR
london Inter-Bank Offered Rate
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