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April 13, 2021 

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IN-KIND PAYMENT: A payment, usually in exchange for the productive efforts of resources, that takes the form of goods and services rather than the economy's standard monetary unit (that is, dollars). In other words, resource owners are compensated with a portion of the output that they helped to produce. The standard method of compensation, which is illustrated by the circular flow model, is for a firm to pay resource owners using money revenue received from selling its production. Hence most factor payments are monetary payments. However, in some circumstances firms and resource owners find it more convenient to use actual production for compensation, eliminating the middle sell-production-for-money step

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INTEREST: Payments for the use of borrowed funds. Interest is most commonly expressed as a percent of the borrowed funds, which is an interest rate. Interest is payment lenders receive as an incentive to forego funds that can be used to acquire current consumption.

     See also | interest rate | net interest | opportunity cost | investment | capital | dividend | financial markets | yield | prime rate | federal funds rate | interest-rate effect | government borrowing | investment borrowing |


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INTEREST, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2021. [Accessed: April 13, 2021].


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ASSUMPTIONS, PRODUCTION POSSIBILITIES

The four key assumptions underlying production possibilities analysis are: (1) resources are used to produce one or both of only two goods, (2) the quantities of the resources do not change, (3) technology and production techniques do not change, and (4) resources are used in a technically efficient way.

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Today, you are likely to spend a great deal of time browsing through a long list of dot com websites trying to buy either a how-to book on home repairs or a large, stuffed kitty cat. Be on the lookout for poorly written technical manuals.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
"Education is the ability to listen to almost anything without losing your temper or your self-confidence. "

-- Robert Frost

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Journal of Econometrics
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