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BRAND LOYALTY: A positive attitude toward and preference for purchasing a specific product or service in the market place. It is the desired goal of all businesses to create brand loyalty from members of their target markets. Once brand loyalty has been created it is more difficult to persuade customers to switch to an alternative brand. Some consumers will only purchase Mountain Dew, nothing else will do.
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Lesson 18: Banking | Unit 4: Regulating Banks
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Page: 18 of 24
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Banking is a heavily regulated industry. Reasons: - First: Banks have the temptation to go for large profits at the expense of protecting deposits.
- Second: The economy's health rests with having the 'correct' money supply.
The problems: - Banks get carried away seeking profits without having enough deposit-protecting reserves.
- Customers can't withdraw deposits and lose trust.
- Banks shut down, remaining bank deposits become worthless, and the money supply shrinks.
- The economy heads into a recession.
Important points: - A failed bank is bad for the economy.
- Government can control the checking account part of money only by controlling and regulating banks.
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MACROECONOMICS The branch of economics that studies the entire economy, especially such topics as aggregate production, unemployment, inflation, and business cycles. It can be thought of as the study of the economic forest, as compared to microeconomics, which is study of the economic trees.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center wanting to buy either a coffee cup commemorating last Friday (you know why) or a wall poster commemorating the first day of spring. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Man is born to live, not to prepare for life. " -- Boris Pasternak, writer
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WPO
Weakly Pareto Optimal
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