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OCCUPATIONAL MOBILITY: The mobility, or movement, of factors of production from one type of productive activity to another type of productive activity. In particular, occupational mobility is the ease with which resources can change occupations. For example, a worker leaves a job as an accountant to takes a job as a computer programmer. Some factors are highly mobile and thus can easily moved jobs. Other factors are highly immobile and not easily able to switch production activities.
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Lesson 17: Money | Unit 4: Money's History
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Page: 18 of 25
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Because barter has limitations, the double coincidence of needs, peoples used commodities as money. Commodity money: - When they began using a widely desired commodity, they created commodity money.
- Commodity money has value in use and value in trade.
- The value in use dictates value in trade.
- Some commodities are better than others in terms of the four money characteristics.
- Our ancestors tried many different commodities before finding one type that fits the characteristics better than most metals.
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MARKET CLEARING A condition of the market in which the quantity demanded is equal to the quantity supplied, such that the market is "clear" of any shortage or surplus. Market clearing is a common, non-technical term for equilibrium. In a market graph, the market clearing is found at the intersection of the demand curve and the supply curve.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for crowded shopping malls.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"You can't build a reputation on what you are going to do." -- Henry Ford, automaker
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SIPP
Survey of Income and Program Participation
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