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BANKRUPTCY: A legal declaration that the liabilities of a proprietor (individual), partnership, or corporation are greater than assets. In other words, a consumer or business that is unable to pay the bills can go to court and be formally declared bankrupt. The impetus for entering a court can come voluntarily from the deadbeat who has acquired more liabilities than assets, or involuntarily from the creditors who have been unable to collect from the deadbeat.

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FACTORY

The physical capital (building and equipment) at a particular location used for the production of goods and services. A factory, or plant, is usually a relatively large production operation (compared with something smaller, like a shop). While factory and firm are occasionally used synonymously they are not really the same. A given firm might own more than factory and a given factory might be owned by more than one firm.

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Today, you are likely to spend a great deal of time at a garage sale looking to buy either a large, stuffed giraffe or a birthday greeting card for your aunt. Be on the lookout for malfunctioning pocket calculators.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
"You don't have to be a fantastic hero to do certain things - to compete. You can be just an ordinary chap, sufficiently motivated to reach challenging goals."

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