Download A Lexicon of Economics by Kenyon A. Knopf PDF

By Kenyon A. Knopf

In its place for in-depth definitions and ideas, this ebook is a one-volume resolution to economics, banking, and enterprise questions. With encyclopaedic element, the trems are outlined, ideas defined and relationships illustrated. A separate portion of abbreviations and acronyms may help the reader to spot financial and enterprise teams. This e-book is desinged to be of curiosity to non-professionals and scholars of economics, scholars and pros in company, accounting, sociology and legislations

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By Kenyon A. Knopf

In its place for in-depth definitions and ideas, this ebook is a one-volume resolution to economics, banking, and enterprise questions. With encyclopaedic element, the trems are outlined, ideas defined and relationships illustrated. A separate portion of abbreviations and acronyms may help the reader to spot financial and enterprise teams. This e-book is desinged to be of curiosity to non-professionals and scholars of economics, scholars and pros in company, accounting, sociology and legislations

Show description

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Extra resources for A Lexicon of Economics

Example text

See Equilibrium of the Consumer. 01 10 BUDGET LINE 31 BUFFER S T O C K B U F F E R S T O C K A stock of goods held by a country or a group of countries to stabilize the price of a product or to raise its price. In the latter case, if quantity supplied exceeds quantity demanded at the target price, a sufficient quantity of goods is bought to maintain the price at the desired minimum price. This stock is stored and available to put on the market should quantity demanded exceed quantity supplied at a target maximum price.

C O M M O D I T Y F U T U R E S Contracts for delivery of specified com­ modities such as wheat, cotton, or corn at the stated price on a specified date in the future. The sale and purchase of futures helps to even out commodity price fluctuations due to seasonal produc­ tion by permitting the market to reflect expectations about future harvests and future changes in demand. Futures also provide a way 44 COMMUNISM for processors such as millers to hedge against price changes and avoid the risks of inventory price fluctuations while a commodity is being processed and held in inventory.

Money, however, is a widely accepted common denomina­ tor to which the value of everything else is related. It facilitates exchange by eliminating the multiple trading that otherwise may be necessary for a "seller" to receive what he or she wants in return. See Money. B A S I N G - P O I N T S Y S T E M A pricing system in which the sellers set prices to include transportation charges from a designated "basingpoint" location, whether or not the goods are shipped from that place or from some nearer or more distant point.

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