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DIVISIBILITY: One of four characteristics that enables an asset to better function as money. The other three are durability, transportablity, and non-counterfeitability. This characteristic means that the item used as money can be easily divided into small increments so that it can match commodity values more precisely.

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Lesson 9: Consumer Demand | Unit 1: Demand Theory Page: 2 of 22

Topic: Making Decisions <=PAGE BACK | PAGE NEXT=>

  • A decision: I am pondering a trip to the beach to spend my time wading in the water, playing volleyball, and soaking up the sun.
  • But this seemingly simple decision involves a number of considerations:
  1. How much time do I want to spend at the beach? An hour? Four hours? All day?
  2. Do I really want to go to the beach? Would I rather visit the amusement park instead? Maybe I could do both?
  3. How much will this cost? Do I have sufficient income to pay for admission? Do I have sufficient time?

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GROSS DOMESTIC INCOME

The total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually a year, as calculated using the income approach to measuring gross domestic product. Gross domestic income (GDI) is virtually identical to gross domestic product (GDP), with one minor difference, the statistical discrepancy. As a matter of fact, the statistical discrepancy is calculated as the difference between GDP and GDI.

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BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius trying to buy either a birthday gift for your father that doesn't look like every other birthday gift for your father or a green fountain pen. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?

Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. "

-- Napoleon Hill, author

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