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HETEROGENEOUS: A market characterized by buyers with different needs and wants. A company utilizes a concentrated targeting strategy for this group. This market requires the company to divided the market into groups by a process called market segmentation. The company then develops a different marketing mix to satisfy each of these groups or segments.
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Lesson 18: Banking | Unit 2: Banking Details
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Page: 5 of 24
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Topic:
Commercial Banks
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The first type of financial institution is a traditional bank. Traditional banks have a long history in the economy: - They were the original financial intermediaries.
- They diverted household income into loans for business investment.
- They offered checking accounts.
They were heavily regulated entities: - The big ones, the national banks, were subject to the regulations by the Federal Reserve System, the Federal Deposit Insurance, etc.
- Other banks, more numerous, but usually smaller, were chartered and regulated by state or local agencies.
Before the 1970's: - Banks were the only financial intermediaries that offered checking accounts.
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AVERAGE REVENUE, MONOPOLISTIC COMPETITION The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a monopolistically competitive firm average revenue is greater than marginal revenue. Average revenue for a monopolistically competitive firm is often depicted by a negatively-sloped average revenue curve.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors hoping to buy either several magazines on computer software or a T-shirt commemorating the second moon landing. Be on the lookout for poorly written technical manuals.
Your Complete Scope
This isn't me! What am I?
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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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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BIF
Bank Insurance Fund
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