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FISCAL YEAR: The 12-month period government uses for collecting taxes, appropriating spending, and otherwise tabulating its budget. A government's fiscal year need not be identical to the standard January to December calendar year. The fiscal year used by the U.S. Federal government, for example, runs from October through September. State and local governments often have fiscal years running from July through June. For most governments, the fiscal year is self-contained spending period. The revenue appropriated to a government agency needs to be spent during the fiscal year.
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ECONOMIC RESOURCE A resource with an available quantity less than its desired use. Economic, or scarce, resources are also called factors of production and generally classified as either labor, capital, land, or entrepreneurship. Economic resources are the workers, equipment, raw materials, and organizers that are used to produce economic goods. Like the more general society-wide condition of scarcity, a given resource falls into the economic or scarce category because of it has a limited availability relative to (potentially unlimited) productive uses.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for door-to-door salesmen.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Managing intellectual assets has become the single most important task of business. " -- Thomas Stewart, author
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MFN
Most-Favoured Nation
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