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INDIRECT: The mathematical notion that two variables change in the opposite directions, that is, an increase in X goes with a decrease in Y, or a decrease in X goes with an increase in Y. The alternative to an indirect relation is a direct relation, in which an increase in one variable goes with an increase in the other. Indirect relations are graphically illustrated by negatively-sloped curves, a common example being the demand curve.
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Lesson 18: Banking | Unit 2: Banking Details
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Page: 10 of 24
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- The four types of financial institutions: banks, savings and loans associations, credit unions, and mutual savings banks.
- That banks were once the only financial intermediaries that offered checking accounts, but that all four types of banks now offering checking accounts.
- That a balance sheet is the record of a bank's assets and liabilities, which contains two parts: (1) Assets, and (2) Liabilities and Net Worth.
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PERFECT COMPETITION, SHORT-RUN SUPPLY CURVE A perfectly competitive firm's supply curve is that portion of its marginal cost curve that lies above the minimum of the average variable cost curve. A perfectly competitive firm maximizes profit by producing the quantity of output that equates price and marginal cost. As such, the firm moves along its positively-sloped marginal cost curve in response to changing prices.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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WIPO
World Intellectual Property Organization
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