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EASY MONEY: A term used when the Federal Reserve System pursues expansionary monetary policy. In other words, to stimulate our economy out of recession, the Fed increases the amount of money in the economy or makes it "easier" for people to get money (usually through bank loans).
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Lesson 13: The Firm | Unit 4: U.S. Firms
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Page: 21 of 24
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In this unit, you should have learned about:- The distribution of productive activity among proprietorships, partnerships, and corporations in the U.S. economy.
- How proprietorships tend to be small scale operations, with 73% of the firms producing only 5% of the output.
- How corporations tend to be large scale operations, with 20% of the firms producing 89% of the output.
- The types of industries -- construction, transportation, trade, and services -- that tend to attract proprietorships.
- The types of industries -- agriculture, mining, and especially finance -- that tend to attract partnerships.
- The types of industries -- mining, manufacturing, trade, and finance -- that tend to attract corporations.
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VERY SHORT RUN, MICROECONOMICS A production period of time in which at all inputs in the production process are fixed, meaning the quantity of output itself is fixed. Also termed market period, the very short run exists if the period is so short that no additional production is possible. In other words, the good has been produced, all that remains is to sell it. This is one of four production time periods used in the study of microeconomics. The other three are short run, long run, and very long run.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at a flea market seeking to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"Nobody can be successful unless he loves his work. " -- David Sarnoff, TV pioneer
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ICC
International Chamber of Commerce
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