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SOCIAL REGULATION: Government regulation that addresses specific social problems, including pollution, product safety, worker safety, and discrimination. The late 1960s and early 1970s was a period of considerable social regulation. Within a 10-year period the government established several regulatory agencies, including Equal Employment Opportunity Commission, Environmental Protection Agency, National Highway Traffic Safety Administration, Occupational Safety and Health Administration, and Consumer Product Safety Commission, to deal with social problems.

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Lesson 18: Banking | Unit 1: What It Is Page: 1 of 24

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The primary profit-motivating task of a bank is to match up borrowers and savers.

Two main functions:

  • First: Banks maintain deposits for costumers.
  • Second: Banks offer loans to credit-worthy customers.

Banks and the money supply:

  • Banks are financial intermediaries.
  • Banks must remain stable because their deposits are part of the economy's money supply.
  • Closing down a bank would be detrimental to the money supply.

Regulation:

  • Banks are heavily regulated by government.

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FALLACY OF FALSE AUTHORITY

The logical fallacy of arguing that something is "correct" or "true" because an "expert" in an unrelated area says so. This is commonly used by both advertisers, politicians, and anyone who relies an "apparent expert" for the "correct" answers to controversial issues.

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APLS

GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time driving to a factory outlet looking to buy either decorative celebrity figurines or a flower arrangement with anything but tulips for your grandfather. Be on the lookout for malfunctioning pocket calculators.
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This isn't me! What am I?

The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
"You are never given a dream without also being given the power to make it true."

-- Richard Bach, Author

CHIPS
Clearing House Interbank Payments Systems (US)
A PEDestrian's Guide
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