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PERFECT PRICE DISCRIMINATION: A form of price discrimination in which a seller charges the highest price that buyers are willing and able to pay for each quantity of output sold. This is also termed first-degree price discrimination because the seller is able to extract ALL consumer surplus from the buyers. This is one of three price discrimination degrees. The others are second-degree price discrimination and third-degree price discrimination.
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Lesson 20: Federal Reserve System | Unit 3: The Fed Pyramid
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Page: 7 of 20
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The structure of the Federal Reserve:- Chairman of the Board of Governors: the boss of the Fed.
- Board of Governors: 7 people, usually economists who make big decisions.
- Federal Reserve Banks: 37 banks dispersed throughout the country.
- Commercial Banks: traditional banks, credit unions, savings and loan associations and mutual savings banks.
- The Non-Bank Public: people, businesses, and government agencies using commercial banking services.
- The Federal Open Market Committee (FOMC) is critical for money supply control.
- The Federal Advisory Council (FAC), isn't quite as important.
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SAVING The after-tax disposable income of the household sector that is not used for consumption expenditures. Saving primarily involves the use of income to purchase legal claims through financial markets rather than the direct purchase of physical goods and services (which is consumption expenditures). In the circular flow model, saving is the diversion of household income away from consumption expenditures and into the financial markets, which then flows to business investment expenditures and government purchases. Saving is one of two basic uses of disposable income. The other is consumption expenditures.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel wanting to buy either a birthday gift for your father that doesn't look like every other birthday gift for your father or a green fountain pen. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"Expect people to be better than they are; it helps them to become better. But don't be disappointed when they're not; it helps them to keep trying." -- Merry Browne, Author
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MAR
Minimum Acceptable Revenue
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