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NUMBER OF BUYERS: One of the five demand determinants assumed constant when a demand curve is constructed, and that shift the demand curve when they change. The other four are income, preferences, other prices, and buyers' expectations. This determinant is based on the simple observation that if more people are willing and able to buy a good, then demand is greater.
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Lesson 18: Banking | Unit 3: Reserve Banking
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Page: 17 of 24
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- The concept of fractional-reserve banking, which implies that deposits are used for loans and that banks must keep reserves to back deposits.
- The three types of reserves:
- Legal reserves, which are vault cash and deposits with the Federal Reserve.
- Required reserves, which are the vault cash and deposits with the Federal Reserve that regulators say a bank must keep for daily transactions.
- Excess reserves, which are any legal reserves over and above required reserves.
- That banking sort of evolved from the goldsmithing profession.
- How Fred stumbled upon the depository function of modern banks.
- How Fred discovered the lending function of modern banks.
- How Fred discovered modern fractional-reserve banking.
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CONCENTRATION RATIOS A family of measures of the proportion of total output in an industry that is produced by a given number of the largest firms in the industry. The two most common concentration ratios are for the four largest firms and the eight largest firms. The four-firm concentration ratio is the proportion of total output produced by the four largest firms in the industry and the eight-firm concentration ratio is proportion of total output produced by the eight largest firms in the industry. Concentration ratios are commonly used to indicate the degree to which an industry is oligopolistic and the extent of market control of the largest firms in the industry. A related measure is the Herfindahl index.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"Follow effective action with quiet reflection. From the quiet reflection will come even more effective action. " -- Peter F. Drucker, author
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HIP
Health Insurance Plan
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