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FEDERAL DEPOSIT INSURANCE CORPORATION: A program established by Congress in 1933, during the worst of the Great Depression, to insure the deposits of failed banks. Abbreviated FDIC, it operates operates much like any private insurance company. It collects insurance premiums from its customers--the banks--in return for the assurance that it will stand behind, or be ready to pay off, any deposits that the banks can't.
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SCARCE A condition in which a given good or resource is limited relative to its desired uses. This is a special condition of the general condition of scarcity. A scarce good or resource is typically exchanged through markets and carries a positive price.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store wanting to buy either a cross-cut paper shredder or a birthday greeting card for your father. Be on the lookout for the last item on a shelf.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"Success is the child of audacity. " -- Benjamin Disraeli, British statesman
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AR
Average Revenue, Autoregressive
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