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AMERICAN STOCK EXCHANGE: One of three national stock markets in the United States (see National Association of Securities Dealers and New York Stock Exchange) that trade ownership shares in corporations. In terms of daily stock transactions and the number of stocks listed, the American Stock Exchange is the smallest of these three. However, it's composite index of stock prices -- AMEX is considered important enough to be flashed briefly on the nightly news.

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Lesson 17: Money | Unit 1: Money Basics Page: 2 of 25

Topic: THE Medium <=PAGE BACK | PAGE NEXT=>

The notion of general acceptance makes money THE medium of exchange for economic transactions.

It must be generally accepted.

  • Two types of value:
    1. Value in use (intrinsic value): An item provides satisfaction of wants and needs.
    2. Value in exchange: An item does not provide satisfaction directly but can be traded for something that does.
  • Money may or may not have value in use, but to be a medium of exchange, it must have value in exchange.

Money is an economic lubricant.

  • Too much money prompts inflationary expansion and too little entices recessionary unemployment.
  • The challenge is to maintain the proper balance between too much and too little.

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MARKET DEMAND

The combined demand of everyone willing and able to buy a good in a market. Market demand is one half of the market. The other is market supply. It is graphically represented by a negatively-sloped market demand curve, which can be derived by combining, or adding, the individual demands of every buyer in the market.

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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?

Al Capone's business card said he was a used furniture dealer.
"No amount of business school training or work experience can teach what is ultimately a matter of personal character. "

-- Truett Cathy, Chick-fil-A Inc. founder

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