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LOANS: In general, transactions in which legal claims are exchanged for money. The legal claim is typically a contract or promissory note stipulating when and how the money will be repaid. The lender gives up the money and receives the legal claim. The borrower gives up the legal claim and receives the money. A loan can be either an asset or a liability, depending on who does the borrowing and who does the lending. To the borrower, a loan is a liability, something that is owed. The borrower must pay off the loan or repurchase the legal claim. However, to the lender, a loan is an asset, something that is owned. In fact, loans represent a significant part of a bank's assets.
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ECONOMIC SCIENCE The application of the scientific method to economic phenomena and topics related to the fundamental problem of scarcity. Economic science, also termed positive economics, is one of several social sciences that apply the scientific method to the study of human behavior.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center trying to buy either a wall poster commemorating the first day of spring or a lazy Susan for you dining room table. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"Be willing to have it so. Acceptance of what has happened is the first step to overcoming the consequences of any misfortune." -- William James, Psychologist
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IARA
Increasing Absolute Risk Aversion
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