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BANKING: The industry consisting of financial intermediaries that maintain deposits (that is, the industry of banks). Banking is one of several financial industries, with insurance and stock trading two other notable examples. Firms that comprise the banking industry are traditional banks, savings and loan associations, credit unions, and mutual savings banks. Banking in modern economies is generally fractional-reserve banking, with banks acting as financial intermediaries and safekeepers of deposits.
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Lesson 4: Production Possibilities | Unit 3: The Curve
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Page: 10 of 24
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Topic:
Connecting Points
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Like a constellation in the sky, we will find it convenient to outline an 'image' by connecting the individual points.- Connecting our 11 points lets us include other options. These are only 11 of many possibilities.
- The curve we get is the production possibilities curve. It's also termed the production possibilities frontier for reasons that will become clear as we continue this lesson.
- Note that the curve is flat at the top and steep at the bottom.
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NOVEL INFORMATION Information received by the five senses (sight, sound, taste, touch, and smell) that is new, different, and unusual. Because novel information has the potential to be threatening it triggers an automatic response through what is commonly termed the "fight or flight" reaction. Novel information is evaluated in contrast to redundant information, which is familiar and presumably nonthreatening.
Complete Entry | Visit the WEB*pedia |
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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IPUMS
Integrated Public Use Microdata Series
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