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ARBITRAGE: Buying something in one market then immediately (or as soon as possible) selling it in another market for (hopefully) a higher price. Arbitrage is a common practice in financial markets. For example, an aspiring financial tycoon might buy a million dollars worth of Japanese yen in the Tokyo foreign exchange market then resell it immediately in the New York foreign exchange market for more than a million dollars. Arbitrage of this sort does two things. First, it often makes arbitragers wealthy. Second, it reduces or eliminates price differences that exist between two markets for the same good.

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Lesson Contents
Unit 1: Introduction
  • A Definition
  • Doing Production
  • Entrepreneurship
  • Capital
  • The Industry
  • Unit 1 Summary
  • Unit 2: Objectives
  • Staying Alive
  • Profit And Maximization
  • Real World Firms
  • Natural Selection
  • Unit 2 Summary
  • Unit 3: Legal Types
  • Types
  • Proprietorship
  • Partnership
  • Corporation
  • Other Options
  • Liability
  • Unit 3 Summary
  • Unit 4: U.S. Firms
  • Legal Types
  • By Industry
  • Unit 4 Summary
  • Unit 5: The Bigger Picture
  • Market Structures
  • Business Sector
  • Unit 5 Summary
  • Course Home
    The Firm

    This lesson investigates the nature of firms, especially those in the U.S. economy, including what they are, what they do, and how they operate. Paying careful attention to this lesson is no guaranteed that Duncan will end up with a multi-billion dollar "dot-com" business, but it won't hurt.

    • The first unit of this lesson, Organizing Production, gets us started with an overview of what firms are and their primary function in the economy -- which is production.
    • In the second unit, Objectives, we take a closer look at what motivates firms, especially the pursuit of profit.
    • The third unit, Legal Types, examines the most common legal forms of business firms, including proprietorships, partnerships, and corporations.
    • The fourth unit, U.S. Firms, investigates firms in the United States by the numbers -- including how many, what they are, what they produce.
    • The fifth and final unit, The Bigger Picture, then closes this lesson by discussing the role firms play in the grand economic scheme of things.

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    INJECTIONS-LEAKAGES MODEL

    A macroeconomic model that balances non-consumption expenditures on production (injections) and non-consumption uses of income (leakages) that is used to identify the equilibrium level of, and analyze disruptions to, aggregate production and income. The injections-leakages model is based on the principles of Keynesian economics and provides an alternative to the standard aggregate expenditures (Keynesian cross) analysis. The three injections included in the model are investment expenditures, government purchases, and exports. The three leakages included in the model are saving, taxes, and imports. Three variations are the two-sector injections-leakages model (or saving-investment model), three-sector injections-leakages model, and four-sector injections-leakages model.

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    APLS

    BLUE PLACIDOLA
    [What's This?]

    Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club seeking to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
    Your Complete Scope

    This isn't me! What am I?

    The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
    "Good judgment comes from experience, and often experience comes from bad judgment."

    -- Rita Mae Brown ‚ Writer

    AR(N)
    A nth-order Autoregressive Process
    A PEDestrian's Guide
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