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RISK: The possibility of gain or loss. Risk the calculated probability of different events happening, is usually contrasted with uncertainty the possibility that any number of things could happen. For example, uncertainty is the possibility that you could win or lose $100 on the flip of a coin. You don't know which will happen, it could go either way. Risk, in contrast, is the 50 percent chance of winning $100 and the 50 percent chance of losing $100 on the flip of the coin. You know (or think you know) that your probability of winning or losing is 50 percent because the coin has a 50 percent chance of coming up either heads or tails.
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ECONOMIC GROWTH, SOURCES Economic growth, the process of increasing the economy's ability to produce goods and services, can be achieved by increasing the quantity or quality of resources. The quantity option can include increases in the quantities of labor, capital, land, or entrepreneurship. The quality option primarily includes improvements in technology and human capital.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either software that won't crash your computer or any book written by Stephan King. Be on the lookout for cardboard boxes.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"Carpe diem! Rejoice while you are alive; enjoy the day; live life to the fullest; make the most of what you have. It is later than you think." -- Horace, Ancient Roman poet
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FASB
Financial Accounting Standards Board
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