|
|
SOTHEBY'S: An English auction house founded by Samuel Baker in 1774. Originally, Sotheby's activities as an auctioneer focused on books. Today the company, which is one of the leading auction houses internationally, has expanded its scope to cover all areas of fine art, antiques, jewelry and real estate. On each sale, Sotheby's collects commissions and fees from both the buyer and the seller. In addition to auction operations, Sotheby's is also involved in a number of related activities, including the purchase and resale of art and other collectibles and the brokering of art and collectible purchases and sales through private treaty sales.
Visit the GLOSS*arama
|
|
|
|
|
IN-KIND PAYMENTS A payment, usually in exchange for the productive efforts of resources, that takes the form of goods and services produced by the resource buyer rather than the economy's standard monetary unit (that is, dollars). In other words, resource owners are compensated with a portion of the output that they help to produce. The standard method of compensation, which is illustrated by the circular flow model, is for a firm to pay resource owners using money revenue received from selling its production. Hence most factor payments are monetary payments. However, in some circumstances firms and resource owners find it more convenient to use actual production for compensation, eliminating the sell-production-for-money step.
Complete Entry | Visit the WEB*pedia |
|
|
BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for neighborhood pets, especially belligerent parrots.
Your Complete Scope
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 genius is a talented person who does his homework." -- Thomas Edison
|
|
PWAC
Present Worth of Annual Costs
|
|
|
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
|
|
