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March 1, 2024 

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FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION: Abbreviated FSLIC, this was once the federal entity responsible for insuring the deposits at savings and loan associations (S&Ls). It performed the same function for S&Ls that the Federal Deposit Insurance Corporation (FDIC) performed for traditional banks. However, when a significant number S&Ls experienced problems in the 1980s and effectively bankrupting the FSLIC, the FDIC assumed the deposit insurance role for any remaining S&Ls, too.

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RISK AVERSE: A person who values a certain income more than an equal amount of income that involves risk or uncertainty. To illustrate, let's say that you're given two options--(A) a guaranteed $1,000 or (b) a 50-50 chance of getting either $500 or $1,500. If you chose option A, then you're risk averse. Both options give you the same "expected" values. In other words, if you select option B a few hundred times, then your average amount over those few hundred times is $1,000.

     See also | risk | uncertainty | income | insurance | profit | risk loving | risk neutral | risk pooling | risk premium | entrepreneurship | hedging | financial market |


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RISK AVERSE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: March 1, 2024].


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MONOPOLISTIC COMPETITION, CHARACTERISTICS

The four key characteristics of monopolistic competition are: (1) large number of small firms, (2) similar but not identical products sold by the firms, (3) relative freedom of entry into and exit out of the industry, and (4) extensive knowledge of prices and technology.

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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club hoping to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for jovial bank tellers.
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More money is spent on gardening than on any other hobby.
"The human race has only one really effective weapon and that is laughter."

-- Mark Twain

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