|
BANK PANIC OF 1907: A relatively serious economic downturn, that is business-cycle contraction, in 1907 that was caused by serious, big-time, instability in the banking system. This major bank panic was so severe (the term depression is more applicable than recession) that it prompted Congress to establish the Federal Reserve System, which came into existence in 1913. See fractional-reserve banking.
Visit the GLOSS*arama
|
|

|
|
                           PLANT: The physical capital (building and equipment) at a particular location used for the production of goods and services. A plant, or factory, is usually a relatively large production operation (compared with something smaller, like a shop). While plant and firm are occasionally used synonymously, a given firm might own more than one plant and a given plant might be owned by more than one firm. A plant is essentially the geographic manifestation of large scale production, where the capital, workers, and materials are combined in the production of goods and services.The term plant is occasionally used synonymously with other terms such as firm or business. However, to be precise, a firm or business is the organization set up to oversee production and a plant is the physical location of the production. The one term that is largely synonymous with plant is factory. The distinction between the terms firm (or business) and plant (or factory) provides a couple of interesting combinations. - A given firm can operate several different plants. Consider The Wacky Willy Company, proud producer of Wacky Willy Stuffed Amigos (those adorable foam-filled tarantulas and scorpions). The Wacky Willy Company actually operates several plants for the production of Stuffed Amigos. They have a main assembly plant on the north edge of Shady Valley, just the up the highway from the shopping mall. Then they also have a fabric-cutting facility in Oak Town, thirty miles south of Shady Valley, a tag-printing plant in nearby Breezy Burg, and a stuffing poofer operation located in upstate Whispering Falls. The Wacky Willy Company is clearly a multi-plant firm. A single firm and four plants.
- A single plant can be operated by more than one firm. Consider the wireless communications data relay equipment production facility located east of Shady Valley. This facility is used to assemble the assorted computers and communications equipment that enables high speed wireless telephone communication. This particular plant is owned and operated as a joint venture among Shady Valley's four wireless telephone services--OmniCell, Digital Distance, Tucker Trilateral Telephone, and FoneCom. In this case, there is one plant and four firms.
 Recommended Citation:PLANT, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: May 16, 2025]. Check Out These Related Terms... | | | | | | | | | | | | Or For A Little Background... | | | | | | And For Further Study... | | | | | | Related Websites (Will Open in New Window)... | |
Search Again?
Back to the WEB*pedia
|


|
|
WHITE GULLIBON [What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area trying to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for poorly written technical manuals. Your Complete Scope
This isn't me! What am I?
|
|
Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
|
|
"We succeed only as we identify in life, or in war, or in anything else, a single overriding objective, and make all other considerations bend to that one objective. " -- President Dwight D. Eisenhower
|
|
MMSE Minimun Mean Square Error
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|