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BANKING: The industry consisting of financial intermediaries that maintain deposits (that is, the industry of banks). Banking is one of several financial industries, with insurance and stock trading two other notable examples. Firms that comprise the banking industry are traditional banks, savings and loan associations, credit unions, and mutual savings banks. Banking in modern economies is generally fractional-reserve banking, with banks acting as financial intermediaries and safekeepers of deposits.
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BILATERAL MONOPOLY A market containing a single buyer and a single seller, or the combination of a monopoly market and a monopsony market. A market dominated by a profit-maximizing monopoly tends to charge a higher price. A market dominated by a profit-maximizing monopsony tends to pay a lower price. When combined into a bilateral monopoly, the buyer and seller both cannot maximize profit simultaneously and are forced to negotiate a price and quantity. Then resulting price could be anywhere between the higher monopoly price and the lower monopsony price. Where the price ends ups depends on the relative negotiating power of each side.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction hoping to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for jovial bank tellers.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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BIF
Bank Insurance Fund
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