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NOMINAL PRODUCTION: The market value of all production measured in current, actual prices. Nominal production is typically measured with nominal GDP.
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FACTORY: The building and equipment (the physical capital) at a particular location used for the production of goods and services. A factory often takes the form of the conventional assembly-line system, but it need not. As the building and equipment used for production, a factory can also be restaurant, doctor's office, or university classroom. Moreover, while a factory is often associated with the notion of firm or business, they need not be one and the same. A firm can, often does, own more than one factory and a factory can be owned by more than one firm. See also | capital | physical capital | plant | firm | business | plant |  Recommended Citation:FACTORY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: December 4, 2023]. AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: factory
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UNIT OF ACCOUNT The money function in which money is used as the common benchmark to designate the prices of goods exchanged throughout the economy. Unit of account, or measure of value, means money is functioning as the measuring unit for prices. In other words, prices of goods are stated in terms of the monetary unit. This is one of four basic functions of money. The other three are medium of exchange, store of value, and standard of deferred payment.
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GREEN LOGIGUIN [What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either a set of luggage with wheels or a birthday gift for your aunt. Be on the lookout for pencil sharpeners with an attitude. Your Complete Scope
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"Only great minds can afford a simple style." -- Stendhal, writer
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IBS International Bank for Settlements
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