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AFRICAN DEVELOPMENT BANK: A regional multilateral development institution engaged in promoting the economic development and social progress of its member countries in Africa. The Bank, established in 1964, started functioning in 1966 with its Headquarters in Abidjan, Cote d' lvoire. The Bank borrows funds from the international money and capital markets. Its shareholders are the 53 countries in Africa as well as 24 countries in the Americas, Europe, and Asia.

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Lesson 11: Elasticity Basics | Unit 2: A Little More Page: 7 of 25

Topic: Why Study: Market Shocks <=PAGE BACK | PAGE NEXT=>

  • How much price and quantity changes, however, depends on elasticity.

  • Demand Changes, Elastic Supply: With elastic supply any change in demand results in relatively large changes in quantity, but relatively small changes in price.

  • Demand Changes, Inelastic Supply: With inelastic supply any change in demand results in relatively small changes in quantity, but relatively large changes in price.

  • Supply Changes, Elastic Demand: With elastic demand any change in supply results in relatively large changes in quantity, but relatively small changes in price.

  • Supply Changes, Inelastic Demand: With inelastic demand any change in supply results in relatively small changes in quantity, but relatively large changes in price.

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NEGOTIABLE ORDER OF WITHDRAWAL ACCOUNTS

Interest-paying checking accounts maintained by commercial banks, savings and loan associations, and mutual savings banks. These function much like standard demand deposit checking accounts in that the funds can be withdrawn "on demand" by writing a check, but an interest is paid on the outstanding balance. Negotiable order of withdrawal (NOW) accounts are one type of checkable deposits. Others are demand deposits (standard checking accounts), share draft accounts, and automatic transfer service (ATS) accounts.

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Today, you are likely to spend a great deal of time at a flea market wanting to buy either a packet of address labels large enough for addresses of both the sender and the recipient or a key chain with a built-in flashlight and panic button. Be on the lookout for high interest rates.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
"It has been my philosophy of life that difficulties vanish when faced boldly. "

-- Isaac Asimov

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