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ADVERTISING: Information provided about a product by a company to promote or maintain sales, revenue, and or profit. Advertising is often an explicit method of signalling that sellers use to provide information to buyers. The primary objective of advertising from the sellers perspective is to increase (or at least maintain) demand for a product. To accomplish this objective advertising provides buyers with two important types of information -- prices and product quality.
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Lesson 17: Money | Unit 4: Money's History
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Page: 17 of 25
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A long time ago, our ancestors realized that life could be better with a little trading.- Our ancestors first satisfied their own wants and needs.
- Then, self-sufficiency gave way to barter.
Two reasons for barter: - First: Barter lets resources specialize in production.
- Second: With barter trades, people can access a wider variety of goods than they could produce on their own.
- Barter is a more effective way of satisfying our wants and needs.
However barter is not perfect: - We need double coincidence of wants.
- It takes resources for trades.
Therefore: - Our ancestors progressed to the next stage: commodity money.
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AUTONOMOUS INVESTMENT Business investment expenditures that do not depend on income or production (especially national income or even gross domestic product). That is, changes in income do not generate changes in investment. Autonomous investment is best thought of as investment that the business sector undertakes regardless of the state of the economy. It is measured by the intercept term of the investment line. The alternative to autonomous investment is induced investment, which does depend on income.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either a flower arrangement for that special day for your mother or a New York Yankees baseball cap. Be on the lookout for high interest rates.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"Courage is the ladder on which all the other virtues mount." -- Claire Boothe Luce, diplomat, writer
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EMS
European Monetary System
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