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IN-KIND PAYMENT: A payment, usually in exchange for the productive efforts of resources, that takes the form of goods and services rather than the economy's standard monetary unit (that is, dollars). In other words, resource owners are compensated with a portion of the output that they helped to produce. The standard method of compensation, which is illustrated by the circular flow model, is for a firm to pay resource owners using money revenue received from selling its production. Hence most factor payments are monetary payments. However, in some circumstances firms and resource owners find it more convenient to use actual production for compensation, eliminating the middle sell-production-for-money step
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TARIFFS Taxes imposed by the government of one nation on imports from other nations. The primary goal of tariffs is to reduce imports and increase domestic production. As taxes, tariffs raise the demand price and lower the supply price, and thus reduce the quantity exchanged. Tariffs are one of three common foreign trade policies designed to discourage imports and/or encourage exports. The other two are import quotas and export subsidies.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a battery-powered, rechargeable vacuum cleaner or a remote controlled World War I bi-plane. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"Experience keeps a dear school, but fools will learn in no other. " -- Benjamin Franklin
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EBC
Electronic Business Communications
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