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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.
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PRICE TAKER A buyer or seller that has no market control and is not able to affect the price of a good. It must "take" or accept the going market price. The market structure that exemplifies price taker is perfect competition. In fact, perfect competition is the only example of price taker. This is one of two alternatives related to control over price. The other is price maker. Price taker is also termed price seeker.
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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!
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"Defeat is not the worst of failures. Not to have tried is the true failure." -- George E. Woodberry, Author
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DCE
Domestic Credit Expansion
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