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ADVERTISING: Information provided about a product by a company to promote or maintain sales, revenue, and or profit. Advertising is often an explicit method of signalling that sellers use to provide information to buyers. The primary objective of advertising from the sellers perspective is to increase (or at least maintain) demand for a product. To accomplish this objective advertising provides buyers with two important types of information -- prices and product quality.

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Lesson 19: Money Creation | Unit 1: A Little Magic Page: 1 of 23

Topic: Money <=PAGE BACK | PAGE NEXT=>

First:
  • Money is currency and checkable deposits.
  • Currency is issued by the federal government.
  • Checkable deposits are issued by commercial banks.

    Second:

  • Money is the medium of exchange.
  • Money makes production and exchange more efficient.
  • Too much money causes inflation and too little causes recession.

    Third:

  • Banks balance profit-seeking loans and deposit-protecting reserves.
  • Because a failed bank can trigger economic instability, banks are heavily regulated by the government.
Note:
  • Controlling checkable deposits is controlling a little magic.

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AVERAGE REVENUE

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. Using the longer term average revenue rather than price provides a connection to other related terms, especially total revenue and marginal revenue. When compared with average cost, average revenue indicates the amount of profit generated per unit of output produced. Average revenue is often depicted by an average revenue curve.

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APLS

BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time at a garage sale hoping to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?

Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
"Anyone who has never made a mistake has never tried anything new. "

-- Albert Einstein, physicist

LCH
Life Cycle Hypothesis
A PEDestrian's Guide
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