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SEC: The abbreviation for Securities and Exchange Commission, which is a federal government agency that regulates the trading of corporate stock to protect investors against unscrupulous practices. Like a number of other federal regulatory agencies, the SEC was established in the 1930s--1934 to be exact. The impetus for its formation was to prevent investors from manipulating the stock market and to prevent other practices that contributed to the 1929 stock market crash. The SEC has all sorts of rules governing the stock market, including information disclosure, insider trading, speculation, and use of credit.
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Lesson 10: Utility and Demand | Unit 5: Beyond Demand
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Page: 20 of 21
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- For me to buy a good, someone must be selling.
- Here's a quick comparison of the demand and supply decisions.
- Consumers generate utility by consuming goods. Producers generate profit by producing goods.
- Consumers seek to maximize utility. Producers seek to maximize profit.
- Consumers make decisions based on marginal utility. Producers make decisions based on marginal product.
- Consumption decisions are guided by the law of diminishing marginal utility. Production decisions are guided by the law of diminishing marginal returns.
- Consumers buy more at lower prices because marginal utility is less. Producers sell more at higher prices because marginal product is less.
- Consumers make decisions that marginal benefits with marginal costs. Producers make decisions that balance marginal benefits with marginal costs.
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LIBERAL A political view that favors--(1) paternalistic government, (2) correction of market failure with government intervention, (3) equal opportunities for all citizens regardless of race, age, gender, ethnic origin, or planet of origin, (4) redistribution of income and wealth, and (5) regulation and control by government over the profit-seeking businesses of the second estate.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"There's only one corner of the universe you can be certain of improving and that's your own self. " -- Aldous Huxley, writer
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L/I
Letter of Intent
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