EUROPEAN CURRENCY UNIT: The forerunner of the euro that will be officially introduced in the European Union in 2002. Commonly referred to as the ECU, the European Currency Unit is the weighted average of the currencies of the twelve original nations of the European Union. In that there are is no paper currency yet, it is currently used primarily for big-time commercial, financial, and international transactions.

     See also | European Union | Maastricht Treaty | euro | monetary policy | Economic and Monetary Union | Euro zone | European System of Central Banks |

EUROPEAN CURRENCY UNIT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: December 19, 2018].

Back to the GLOSS*arama

The combination of consumer surplus and producer surplus obtained by buyers and sellers when engaging in a market exchange. Gains from trade arise because buyers are typically willing and able to pay a higher price to purchase a good than what they end up paying and because sellers are typically willing and able to accept a lower price to sell a good than what they end up receiving. Both sides of the market exchange are thus better off, have a net gain in welfare, by making the trade. While all types of market exchanges generate gains from trade, this topic is perhaps most important for an understanding of international trade.

Complete Entry | Visit the WEB*pedia

Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either blue cotton balls or a genuine down-filled pillow. Be on the lookout for pencil sharpeners with an attitude.
Your Complete Scope

This isn't me! What am I?

-- Anne Frank, diarist

User Feedback