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BUSINESS TRANSFER PAYMENTS: A payment by the business sector to the household sector without any corresponding production or expectations of production. Business transfer payments are essentially gifts, or subsidies, made to the household sector from the business sector. This is one of several key differences between national income (the resource cost of production) and gross/net domestic product (the market value of production). For further discussion of this point, see gross domestic product and national income or net domestic product and national income. business transfer payments, abbreviated BTP, tend to be quite small, invariably less than 1% of gross domestic product.
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EXCHANGE The process of trading one valuable commodity (good, service, or resource) for another. An exchange can be voluntary, such as what transpires through a market, or involuntary, such as when taxes are imposed by government.
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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a large flower pot shaped like a Greek urn or a small palm tree that will fit on your coffee table. Be on the lookout for fairy dust that tastes like salt.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"After climbing a great hill, one finds many more hills to climb. " -- Nelson Mandela, president of South Africa
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TP
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