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SECURITIES AND EXCHANGE COMMISSION: (SEC) A federal government agency that regulates the trading of corporate stock to protect investors against unscrupulous practices. Like a number of other federal regulatory agencies, the SEC was established in the 1930s--1934 to be exact. The impetus for its formation was to prevent investors from manipulating the stock market and to prevent other practices that contributed to the 1929 stock market crash. The SEC has all sorts of rules governing the stock market, including information disclosure, insider trading, speculation, and use of credit.
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Lesson 1: Economic Basics | Unit 3: The Economy
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Page: 7 of 18
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Because of the scarcity problem, we need a way to divide up what we have. This is accomplished by an economy. An economy is a system of production, distribution, and consumption of resources, goods, and services that addresses the basic economic problem of scarcity and answers the three questions of allocation: What? How? For Whom?
Economies rely on markets and government to perform the allocation task. The allocation processes involves the institutions of: - Markets allocate resources through voluntary choices made by people--buyers and sellers.
- Government allocates resources through involuntary taxes, laws, restrictions, and regulations imposed on these people.
Both are important methods of allocation.
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ALLOCATION The process of distributing resources for the production of goods and services, and of distributing goods and services for the satisfaction of wants and needs and human consumption. This allocation process is an essential part of an economy's effort to address the problem of scarcity.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store looking to buy either an ink cartridge for your printer or a rechargeable battery for your camera. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects." -- Alexis de Tocqueville, Statesman
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ADV FRT
Advance Freight
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