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May 28, 2022 

AmosWEB means Economics with a Touch of Whimsy!

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EURO ZONE: The geographic area occupied by the member nations of the European Economic and Monetary Union that share the same currency (euro) and monetary policy.

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SPOT: The sale of a commodity for immediately delivery on the "spot." Most stuff that consumers purchase are what we could call spot transactions. You give the store some money and go home with your purchase. Much buying and selling in financial markets is also of the spot transaction variety. For example, you give your stock broker $100,000 and "take home" 2,000 shares of Omni Conglomerate, Inc. stock. To appreciate why it's necessary to have a name for these sorts of transactions, you need to examine futures.

     See also | financial markets | broker | corporate stock | futures | hedging | speculation |


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SPOT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: May 28, 2022].


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PERFECT COMPETITION, CHARACTERISTICS

The four key characteristics of perfect competition are: (1) a large number of small firms, (2) identical products sold by all firms, (3) perfect resource mobility or the freedom of entry into and exit out of the industry, and (4) perfect knowledge of prices and technology.

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APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either a coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?

The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
"A pint of sweat saves a gallon of blood. "

-- General George Patton

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