Google
Saturday 
January 20, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
LOCAL BONDS: Also called municipal bonds, these are medium or long-term financial instruments issued by municipalities to borrow the funds used to build schools, highways, parks and other public projects. An attractive feature of these financial instruments is that are exempt from federal income tax. Commercial banks, corporations, and others with large sums of funds to lend usually purchase these bonds.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 17: Money | Unit 2: More About Money Page: 5 of 25

Topic: Medium of Exchange <=PAGE BACK | PAGE NEXT=>

The primary function of money is to as THE medium of exchange.

An economy without money:

  • Barter exchange happens when you trade one good for another.
  • A barter economy is one that uses nothing but barter trades, no money.
  • Barter requires double coincidence of wants: I must want what you have and you must want what I have.
  • With no money, resources are used for trading and not for production.

The bottom line:

  • Using money as a medium of exchange eases the exchange process, makes it more efficient, and frees resources for production.

Course Home | Lesson Menu | Page Back | Page Next

AVERAGE REVENUE PRODUCT AND MARGINAL REVENUE PRODUCT

A mathematical connection between average revenue product and marginal revenue product stating that the change in the average revenue product depends on a comparison between the average revenue product and marginal revenue product. If marginal revenue product is less than average revenue product, then average revenue product declines. If marginal revenue product is greater than average revenue product, then average revenue product rises. If marginal revenue product is equal to average revenue product, then average revenue product does not change.

Complete Entry | Visit the WEB*pedia


APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club looking to buy either a wall poster commemorating next Thursday or a pair of gray heavy duty boot socks. Be on the lookout for telephone calls from former employers.
Your Complete Scope

This isn't me! What am I?

Three-forths of the gold mined each year is used to manufacture jewelry.
"Act well at the moment, and you have performed a good action for all eternity."

-- Johann Kaspar Lavater

OOB
Opening of Business
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2018 AmosWEB*LLC
Send comments or questions to: WebMaster