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ARBITRAGE: Buying something in one market then immediately (or as soon as possible) selling it in another market for (hopefully) a higher price. Arbitrage is a common practice in financial markets. For example, an aspiring financial tycoon might buy a million dollars worth of Japanese yen in the Tokyo foreign exchange market then resell it immediately in the New York foreign exchange market for more than a million dollars. Arbitrage of this sort does two things. First, it often makes arbitragers wealthy. Second, it reduces or eliminates price differences that exist between two markets for the same good.

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Lesson 9: Consumer Demand | Unit 1: Demand Theory Page: 4 of 22

Topic: On To Demand <=PAGE BACK | PAGE NEXT=>

  • Recall that:

  • The law of demand states that an inverse relation exists between demand price and the quantity demanded, ceteris paribus.
  • According to the law of demand, the demand price that buyers are willing to pay for a good varies inversely with the quantity demanded.

    More Than Willingness

  • Demand depends on more that just the willingness to buy goods:
  • Buyers must also be able to buy.


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AUTOMATIC TRANSFER SERVICE ACCOUNTS

Deposit accounts offered by commercial banks, credit unions, savings and loan associations, and mutual savings banks that automatically transfer funds from interest-paying savings account to checking accounts when needed to process checks or to maintain minimum balances. Automatic transfer service (ATS) accounts effectively function as interest-paying checking accounts and are considered as one type of checkable deposits. Other checkable deposits are demand deposits (standard checking accounts), negotiable order of withdrawal (NOW) accounts, and share draft accounts.

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Today, you are likely to spend a great deal of time at a garage sale hoping to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for the happiest person in the room.
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A half gallon milk jug holds about $50 in pennies.
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