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FINANCIAL MARKETS: A market that trades financial assets. Financial assets are the legal claims on the real assets in our economy and include such notable items as corporate stocks and bonds, government securities, and money. Without financial markets our economy would find it almost impossible to accumulate the funds needed for investment in big, expensive capital projects.
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Lesson 2: Economic Science | Unit 4: Science and Practice
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Page: 13 of 20
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An example of how the scientific method works:- You suspect that a relationship exists between course grades and where students are seated in the class.
- Specifically, you think that students who sit closer to the front of the class receive higher the grades.
Three forms of our hypothesis:
General:- Students seated closer to the front receive higher grades.
A More Specific Form:- If students sit on the front row, then they receive As-- if they sit on the second row, then they receive Bs-- etc.
Using An Equation:- G = a + bD, where b is negative, meaning students seated closer (small D) receive higher grades (large G).
- Key is that we can compare hypothesis with data.
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EXCESS DEMAND A disequilibrium condition in a competitive market in which the quantity demanded is greater than the quantity supplied. Excess demand is another way to say shortage. It also goes by the common term of sellers' market. Excess demand is one of two disequilibrium states of the market. The other is excess supply (or surplus).
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store hoping to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for rusty deck screws.
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The average bank teller loses about $250 every year.
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"Love looks through a telescope; envy, through a microscope. " -- Josh Billings, humorist
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NABB
National Association of Business Brokers
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