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ECONOMIC EFFICIENCY: Obtaining the most consumer satisfaction from available resources. This is what most economists mean when the term efficiency arises. Economic efficiency means our economy is doing the best job possible of satisfying unlimited wants and needs with limited resources--that is, of addressing the problem of scarcity.
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Lesson 18: Banking | Unit 1: What It Is
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Page: 3 of 24
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- The primary financial intermediary task of banks is to match up borrowers and savers.
- Two main functions of banks: Maintaining deposits for costumers and offering loans to credit-worthy customers.
- That banks perform a 'financial' intermediary function, that is, divert household income away from consumption expenditures and to investment.
- The importance of banks maintaining checking accounts, which are about 60% of the money supply.
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TIME DEPOSITS Interest-paying bank accounts maintained by traditional commercial banks, credit unions, savings and loan associations, and mutual savings banks with a minimum time (at least seven days) before deposited funds can be withdrawn. Time deposits come in one of two varieties: (1) savings deposits and (2) certificates of deposit. The minimum time period prevents these accounts from functioning as demand deposits and being widely used as money. Time deposits, along with money market mutual funds, are added to M1 to derive M2.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites trying to buy either an AC adapter that won't fry your computer or a case for your designer sunglasses. Be on the lookout for slow moving vehicles with darkened windows.
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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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"Look at the abundance all around you as you go about your daily business. You have as much right to this abundance as any other living creature. It's yours for the asking." -- Earl Nightingale
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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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