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MATURITY STAGE: The third stage in the product life cycle, characterized by flattening of sales and decreasing profit margins. Advertising and promotion are used to maintain market share and to prevent the erosion of sales and profits. During this stage, the initial decline of a product begins and many businesses try to "re-invent" their products to prevent the upcoming decline stage. Many times the company finds new uses for an existing product (baking soda as a deodorizer), totally new markets (foreign countries), or a way to enhance the existing product to make it better and to re-start the life cycle. The television has gone through at least two life cycles, first from black and white to color and then from color to high definition (HD) and plasma. Along the way there were enhancements such as remote control, VCRs to complement them, and cable to help with reception.

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Lesson 19: Money Creation | Unit 2: Fred Returns Page: 5 of 23

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Let's do a review of our story of Fred the Goldsmith.
  • Fred the Goldsmith, has developed several modern banking functions.
  • Gold, his raw material, is also the economy's medium of exchange, so he has found the SAFEKEEPING function.
  • Requests to store extra gold owned by Bill the Knight and others is the DEPOSITORY function of modern banks.
  • Requests to borrow gold by Elizabeth the Innkeeper, has led to the LENDING function of modern banks.
  • The need to keep some of the gold deposited, but not all of it, has led to the modern banking function of backing deposits with reserves, FRACTIONAL-RESERVE banking.

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THIRD RULE OF INEQUALITY

The third of seven basic rules of the economy, stating that resources, income, and wealth are not equally distributed. Some people have more resources, income, and wealth and some people have less. Such inequality is due to natural abilities, acquired talents, market control, political power, and sheer luck.

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Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either an AC adapter that won't fry your computer or a case for your designer sunglasses. Be on the lookout for telephone calls from former employers.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
"The greatest things ever done on Earth have been done little by little. "

-- William Jennings Bryan

OCC
Options Clearing Corporation
A PEDestrian's Guide
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