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AMORTIZATION: The process of paying off a debt liability and accrued interest through a series of equal, periodic payments. Car loans and mortgages are two debts commonly paid off through amortization. Your monthly car payment, for example, partially pays for interest accrued on the outstanding balance and partly reduces that balance. Because one payment reduces the outstanding balance, each subsequent payment has a smaller portion for interest. If the proper amortization schedule has been calculated, your loan will be paid off with the last payment.
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LAW OF DEMAND The inverse relationship between demand price and the quantity demanded, assuming ceteris paribus factors are held constant. This fundamental economic principle indicates that a decrease the price of a commodity results in an increase in the quantity of the commodity that buyers are willing and able to purchase in a given period of time, if other factors are held constant. The law of demand is one of the most important principles found in the study of economics.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials hoping to buy either a bottle of blackcherry flavored spring water or a travel case for you toothbrush. Be on the lookout for cardboard boxes.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"The only profit center is the customer. " -- Peter Drucker, management consultant
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IRBNE
Income Received But Not Earned
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