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BARTER EXCHANGE: A method of trading goods, commodities, or services, directly for one another without the use of money. In a barter exchange one good is traded directly for another. This sort of exchange ultimately requires a double coincidence of wants, meaning that each trader has what the other trader wants and wants what the other has. Without a double coincidence of wants the exchange process can become exceedingly complex, requiring a great deal of resources to complete transactions, resources that can not be used for production. In fact, inefficient barter trading was the primary reason that money was invented. With money, more resources can be used for production and fewer are needed for trading. See market.
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FOUR ESTATES A division of society based on the economic functions of consumption, production, regulation, and information that includes governments as the first estate, businesses as the second estate, consumers as the third estate, and journalists as the fourth estate.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a set of tires or a birthday gift for your grandfather. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"Kites rise highest against the wind, not with it. " -- Winston Churchill, British prime minister
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OTC
Over the Counter
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