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BOND: The general term for a long-term loan in which a borrower agrees to pay a lender an interest rate (usually fixed) over the length of the loan and then repay the principal at the date of maturity. Bond maturities are usually 10 years or more, with 30 years quite common. Bonds are used by corporations and federal, state, and local governments to raise funds. Most bonds are negotiable, or can be readily traded prior to their maturity date. The price at which a bond sells depends on the original amount borrowed, the interest rate the bond pays, and comparable interest rates and returns on other investments in the economy.
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INCREASING RETURNS TO SCALE A given proportional change in all resources in the long run results in a proportional greater change in production. Increasing returns to scale exists if a firm increases ALL resources--labor, capital, and other inputs--by a given proportion (say 10 percent) and output increases by more than this proportion (that is more than 10 percent). This is one of three returns to scale. The other two are decreasing returns to scale and constant returns to scale.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for jovial bank tellers.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"I know the price of success; dedication, hard work and an unremitting devotion to the things you want to see happen. " -- Frank Lloyd Wright, architect
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T-BILL
Treasury Bill
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