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POLITICAL FORCES: Forces in the marketing environment that are shaped by elected (and sometimes appointed) officials that impact the decisions made by a business organization. Government officials can enact laws that could cause serious harm to specific business sectors. For example, a state that passes laws prohibiting off-shore drilling would dramatically affect an oil drilling company's business outlook. Through environmental scanning a business looks at these political forces that might affect them in the short and long term.
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Lesson 17: Money | Unit 4: Money's History
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Page: 20 of 25
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Fiat money has little or no value in use compared to value in exchange. The value in exchange of fiat money is under control of an authority, usually government. The transition: - First: Paper currency was backed by metal stored in a secure location. The paper could be traded for equivalent amounts of silver or gold.
- Second: Because no one traded paper currency for metal, metal wasn't needed to back the paper. They just need a paper currency-to-metal exchange rate.
- Third: Authorities stopped fixing the currency-to-metal exchange price. Paper currency was valuable based on the ability to purchase goods.
A two-edged sword: - Authority acquires the ability to control money and also the responsibility.
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PAPER ECONOMY Markets, exchanges, and other assorted economic activities that deal with legal or paper claims on physical assets rather than the physical assets. The vast majority of activities for the paper economy take place through financial markets. The paper economy complements production and consumption activities of the real economy that involve product markets and resource markets.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"Far and away the best prize that life has to offer is the chance to work hard at work worth doing." -- Theodore Roosevelt, 26th US president
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M3
M2 plus investment types of near monies, including large denomination certificates of deposits, institutional money market deposits, and longer term repurchase agreements and Eurodollars
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