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MARKETING CONCEPT: Focusing the companyÕs attention on the wants and needs of the customer in the development of products, services, ideas, and strategies. This customer driven focus is throughout the structure of the organization, from the boardroom to the shipping department and every place in between. When a decision is to be made, the question is asked: ÒIs this going to be good for the customer?Ó If the answer is yes, the company is following the marketing concept
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Lesson 18: Banking | Unit 1: What It Is
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Page: 3 of 24
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- The primary financial intermediary task of banks is to match up borrowers and savers.
- Two main functions of banks: Maintaining deposits for costumers and offering loans to credit-worthy customers.
- That banks perform a 'financial' intermediary function, that is, divert household income away from consumption expenditures and to investment.
- The importance of banks maintaining checking accounts, which are about 60% of the money supply.
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GOVERNMENT BORROWING The acquisition of funds through the financial markets by the government sector which are used to finance government expenditures. In terms of the simple circular flow model, this is one of two basic demands for household saving diverted into financial markets. The other is investment borrowing. Government borrowing is also one of two methods of financing government expenditures. The other is taxes.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius hoping to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for broken fingernail clippers.
Your Complete Scope
This isn't me! What am I?
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"The time to repair the roof is when the sun is shining." -- John F. Kennedy, 35th U. S. president
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ACRS
Accelerated Cost Recovery System
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