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TRADITIONAL BANK: The original type of commercial bank that handled customer deposits and made investment loans to businesses. Traditional banks, chartered at the national, state, or local levels, were the only entities legally able to issue checking accounts prior to the 1980s. While still dominant in the banking industry, traditional banks are joined by savings and loan associations, credit unions, and mutual savings banks.
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ALLOCATION The process of distributing resources for the production of goods and services, and of distributing goods and services for the satisfaction of wants and needs and human consumption. This allocation process is an essential part of an economy's effort to address the problem of scarcity.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either a flower arrangement for your aunt or a birthday greeting card for your uncle. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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More money is spent on gardening than on any other hobby.
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"I've always believed that if you put in the work, the results will come. I don't do things half-heartedly. Because I know if I do, then I can expect half-hearted results. " -- Michael Jordan, basketball player
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FRB
Federal Reserve Board
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