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FDIC: The abbreviation for Federal Deposit Insurance Corporation, which is a program established by Congress in 1933, during the worst of the Great Depression, to insure the deposits of failed banks. The FDIC operates much like any private insurance company. It collects insurance premiums from its customers--the banks--in return for the assurance that it will stand behind, or be ready to pay off, any deposits that the banks can't.

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KINKED-DEMAND CURVE

A demand curve with two distinct segments which have different elasticities that join to form a corner or kink. The primary use of the kinked-demand curve is to explain price rigidity in oligopoly. The two segments are: (1) a relatively more elastic segment for price increases and (2) a relatively less elastic segment for price decreases. The relative elasticities of these two segments is based on the interdependent decision-making of oligopolistic firms.

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Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for crowded shopping malls.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
"If anything terrifies me, I must try to conquer it. "

-- Francis Charles Chichester, yachtsman, aviator

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