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ECONOMIC UNION: An agreement among two or more nations to eliminate trade barriers with each other, to adopt a common trade policy with other nations, to allow free movement of resources among the countries, and to adopt common monetary policy or fiscal policy. This is considered the fourth of four levels of integration among nations.
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ACCOUNTING PROFIT The difference between the revenue received by a firm and the explicit accounting cost incurred. This is the profit listed on a firm's balance sheet, appears periodically in the financial sector of the newspaper, and is reported to the Internal Revenue Service for tax purposes. While accounting profit is the "standard" designation of profit used in the business world, economists prefer to use economic profit
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"If a man hasn't discovered something that he will die for, he isn't fit to live. " -- Martin Luther King Jr., clergyman
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HKFE
Hong Kong Futures Exchange
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