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GRESHAM'S LAW: A principle stating that bad money drives good money out of circulation. For this law to apply an economy clearly needs two types of money, one considered good and the other considered bad. Good and bad money in this context has nothing to do with the propensity to torture small animals or attempts at world domination. Good and bad are based on the official value in exchange versus value in use. Gold and silver, which were both used as money in the U.S. Economy in the 1800s, provides an illustration. Silver took on the role of "bad money" because it was relatively less value in use than gold. As such, people used silver as everyday money and stockpiled, or hoarded, gold. The silver bad money drove the gold good money out of circulation.
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PHYSICAL SCIENCE The scientific study of the physical world, especially nonhuman, nonsociety phenomena, such as atoms, planets, wildlife, and continental drift. Common disciplines that study these physical phenomena are physics, chemistry, biology, geology, and astronomy. Physical science is one of two broad scientific classifications. The other is social science, which is the study human behavior and society.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"He who hesitates is poor. " -- Mel Brooks, writer, director, comedian
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SEC
Securities and Exchange Commision
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