|
|
UNLIMITED LIABILITY: A condition in which owners are personally held responsible for any and all debts created by a business. Proprietorships and partnerships are the two kinds of businesses in which owners have unlimited liability. The primary problem with unlimited liability is that it limits the size of a business and prevents it from taking advantage of large scale production.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 19: Money Creation | Unit 2: Fred Returns
|
Page: 8 of 23
|
The money creation mechanism is a profitable opportunity.- With 10% of his receipts redeemed at any given time Fred can issue up to 1,000 pounds of receipts.
- 100 pounds for the original deposits plus another 900 pounds for loans.
Important points:- Fred has created money: Because his receipts are money, he can create money by making loans.
- The new extra 900 pounds of money is used for investment that promotes economic growth.
A precarious balancing act:- If people redeem more than the 10% of the receipts, Fred is in trouble.
- If so, the receipts become worthless, the money supply shrinks, and the local economy enters a recession.
|
|
|
|
|
|
|
LABOR FORCE The total number of people in an economy, society, or country willing and able to exert mental and/or physical efforts in productive activities. The labor force is a more technical term for the labor resource or labor supply. It includes both employed workers and unemployed workers. An official variation of this term is civilian labor force. While labor force may or may not include military personnel, the civilian labor force explicitly excludes the military. Labor and labor resources are the theoretical terms that economists like to banter about. Labor force and civilian labor force are the terms of choice for government policy makers, data-crunchers, and others who need precise labor resource numbers.
Complete Entry | Visit the WEB*pedia |
|
|
|
The average bank teller loses about $250 every year.
|
|
|
"You can't build a reputation on what you are going to do." -- Henry Ford, automaker
|
|
NASD
National Association of Securities Dealers
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
