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SOTHEBY'S: An English auction house founded by Samuel Baker in 1774. Originally, Sotheby's activities as an auctioneer focused on books. Today the company, which is one of the leading auction houses internationally, has expanded its scope to cover all areas of fine art, antiques, jewelry and real estate. On each sale, Sotheby's collects commissions and fees from both the buyer and the seller. In addition to auction operations, Sotheby's is also involved in a number of related activities, including the purchase and resale of art and other collectibles and the brokering of art and collectible purchases and sales through private treaty sales.
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IMPORTS: Goods and services produced by the foreign sector and purchased by the domestic economy. In other words, imports are goods purchased from other countries. The United States, for example, buys a lot of the stuff produced within the boundaries of other countries, including bananas, coffee, cars, chocolate, computers, and, well, a lot of other products. Imports, together with exports, are the essence of foreign trade--goods and services that are traded among the citizens of different nations. Imports and exports are frequently combined into a single term, net exports (exports minus imports). See also | foreign sector | domestic | foreign trade | export | net exports | balance of trade | free trade | trade barriers | quota | comparative advantage | competition | market control |
Recommended Citation:IMPORTS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2014. [Accessed: July 31, 2014].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: imports
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FEDERAL FUNDS A common term for Federal Reserve deposits held by commercial banks, especially when these deposits are loaned between banks through the Federal funds market. The interest rate charged for these interbank loans is termed the Federal funds rate. Federal funds are used by individual banks to meet reserve requirements and the total held by the banking system is manipulated by the Federal Reserve System in the conduct of monetary policy.
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State of the ECONOMY
U.S. Population
June 17, 2014
318,258,378
Up again...U.S. Census Bureau
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"Difficulties mastered are opportunities won. " -- Winston Churchill, Statesman
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LISH
last In Still Here
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