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DEPRESSION: An extended period--a decade or so--of restructuring and institutional change in an economy that's often marked by declining or stagnant growth. During this period, unemployment tends to be higher and inflation lower than a regular, run-of-the-mill recession. Moreover, a depression usually lasts in the range of ten years, often encompassing two or three separate shorter-run business cycles. The most noted depression in the U. S. economy was the Great Depression of the 1930s.
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Lesson 17: Money | Unit 4: Money's History
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Page: 19 of 25
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Topic:
Metal Commodity Money
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Metals are a natural for use as a commodity money.- The most important characteristic of metals is durability.
- Some people erroneously think that metals and only metals are true money.
Metals: - They are extremely durable, quite divisible, relatively easy to transport and difficult to counterfeit.
- They are not perfect.
Drawbacks: - Transportability: Metals are heavy.
- Value in use affects value in exchange: A change in the market price brought by disruptions of the market, affect value in exchange and can play havoc with the economy.
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DEMAND SCHEDULE A table that illustrates the alternative quantities of a commodity demanded at different prices. A demand schedule is a simple means of summarizing information about demand price and quantity demanded for a particular good. It is used to highlight the law of demand. It can also be used to derive a demand curve.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction seeking to buy either an instructional DVD on learning to the play the oboe or a small, foam rubber football. Be on the lookout for malfunctioning pocket calculators.
Your Complete Scope
This isn't me! What am I?
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In the early 1900s around 300 automobile companies operated in the United States.
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"To sit back and let fate play its hand out, and never influence it, is not the way man was meant to operate." -- John Glenn, astronaut, U.S. senator
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M&O
Management and Organization
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