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September 18, 2018 

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LOAN: In general, a transaction in which a legal claim is exchanged for money. The legal claim is typically a contract or promissory note stipulating when and how the money will be repaid. The lender gives up the money and receives the legal claim. The borrower gives up the legal claim and receives the money. A loan can be either an asset or a liability, depending on who does the borrowing and who does the lending. To the borrower, a loan is a liability, something that is owed. The borrower must pay off the loan or repurchase the legal claim. However, to the lender, a loan is an asset, something that is owned. In fact, loans represent a significant part of a bank's assets.

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KEIRETSU: A form of business structure common in Japan which involves an alliance of several businesses, each working toward the mutual success of the group. The alliance also has close ties to government. Each "independent" business owns stock in the others and shares executives and directors. Keiretsu can be either horizontally or vertically integrated. Horizontal keiretsu cluster around a major bank with business ventures in a wide variety of industries. Vertical keiretsu contain businesses in all production phases of a particular industry, from raw materials to production to marketing.

     See also | business | firm | corporation | industry | chaebol | collusion | cartel | interlocking directorate | oligopoly | corporate stock |


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KEIRETSU, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: September 18, 2018].


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PERFECT COMPETITION, PROFIT MAXIMIZATION

A perfectly competitive firm is presumed to produce the quantity of output that maximizes economic profit--the difference between total revenue and total cost. This production decision can be analyzed directly with economic profit, by identifying the greatest difference between total revenue and total cost, or by the equality between marginal revenue and marginal cost.

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Today, you are likely to spend a great deal of time touring the new suburban shopping complex hoping to buy either a Boston Red Sox baseball cap or a square lamp shade with frills along the bottom. Be on the lookout for neighborhood pets, especially belligerent parrots.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
"As the births of living creatures at first are ill-shapen, so are all innovations, which are the births of time. "

-- Sir Francis Bacon, philosopher

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