|
|
ABSTRACTION: Simplifying the complexities of the real world by ignoring (hopefully) unimportant details while doing economic analysis. Abstraction is often criticized because it's, well, it's JUST NOT REALISTIC. However, when done correctly (ignoring things that JUST DON'T MATTER), then the pursuit of knowledge is greatly enhanced by abstraction. For example, when travelling cross country along a high-speed interstate highway, a paper road map is a handy tool. It shows towns and cities along the way, the major intersections, rest stop locations, and other important points of interest. However, it ignores unimportant details. It doesn't realistically show the location of every tree, bush, or blade of grass. Why bother? This information won't enhance your road trip.
Visit the GLOSS*arama
|
|
|
|
|
CHECK CLEARING The process in which reserves or funds are transferred among banks to settle the accounts of checks written on one account and deposited into another. Check clearing is the heart and sole of daily banking activity and the final step in the use of checkable deposits as the medium of exchange for conducting transactions in the economy. Check clearing is facilitated by central clearinghouses, including the Federal Reserve System and a number of private organizations. The check clearing process is also a key component of the money creation process.
Complete Entry | Visit the WEB*pedia |
|
|
BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for neighborhood pets, especially belligerent parrots.
Your Complete Scope
This isn't me! What am I?
|
|
|
In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
|
|
|
"Do not wait; the time will never be just right " -- Napoleon Hill, author
|
|
BACS
Bankers Automated Clearing Services
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
