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CAPITAL CONSUMPTION ALLOWANCE: A common term for then item in the National Income and Product Accounts maintained by the Bureau of Economic Analysis that measures the macroeconomy's capital depreciation during a given time period, usually one year. The capital consumption allowance, which is officially termed the capital consumption adjustment, both of which conveniently go by the abbreviation of CCA, is subtracted from gross domestic product (GDP) to calculate net domestic product (NDP). The CCA is also subtracted from gross private domestic investment to calculate net private domestic investment.
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AUCTION A formal market exchange in which prospective buyers make bids to purchase a commodity. An auction is an effective way of exchanging commodities by bringing together buyers and sellers. Auctions are commonly used to exchange financial instruments, agricultural commodities, personal assets, and works of art. Three notable types of auctions are English, Dutch, and sealed-bid.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Just as iron rusts from disuse, even so does inaction spoil the intellect. " -- Leonardo da Vinci, architect, artist
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LOCH London Options Clearing House
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