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BARTER: A method of trading goods, commodities, or services, directly for one another without the use of money. In a barter exchange one good is traded directly for another. This sort of exchange ultimately requires a double coincidence of wants, meaning that each trader has what the other trader wants and wants what the other has. Without a double coincidence of wants the exchange process can become exceedingly complex, requiring a great deal of resources to complete transactions, resources that can not be used for production. In fact, inefficient barter trading was the primary reason that money was invented. With money, more resources can be used for production and fewer are needed for trading.
Visit the GLOSS*arama
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BLUE PLACIDOLA
Your compete MICRO*scope for today
You are the type of person who wonders why golf is played at such a hectic pace. Family and friends often ask the question "Are you coming?" for no apparent reason. Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either a lazy Susan for you dining room table or a set of serrated steak knives, with durable plastic handles. Be on the lookout for small children selling products door-to-door. You should consider shopping at stores or businesses beginning with the letter O, but do not buy any products with a serial number or product code containing the number 882895. Your preferred shopping venue is department stores. Your special symbol is the at sign (@).
Is this You?
As a Blue Placidola, you are easy-going and even-tempered, calm and composed. For you, the hectic pace of a crowded shopping mall during the holiday rush is nothing, it's little more than a tranquil stroll in the park. Life is good. Life goes on. Why worry. You are a happy shopper and you seldom fret over trivial details of a market exchange, in part because you are astute enough to get moderately low prices and relatively good deals.
This isn't me! What am I?
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SAVING The after-tax disposable income of the household sector that is not used for consumption expenditures. Saving primarily involves the use of income to purchase legal claims through financial markets rather than the direct purchase of physical goods and services (which is consumption expenditures). In the circular flow model, saving is the diversion of household income away from consumption expenditures and into the financial markets, which then flows to business investment expenditures and government purchases. Saving is one of two basic uses of disposable income. The other is consumption expenditures.
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Shopping Around For RETAIL PRICESIt's time for another one of our frequent stops at Mr. Market Super Food Discount Store, this time to check out the story behind retail prices. As consumers, we spend a large fraction of our nonworking, nonsleeping lives wandering grocery stores aisles, searching clothing store racks, and surveying department store displays for the right product at the right price. How do we know, like the name of the long-running game show, if "The Price is Right?" How are retail prices set and do they really tell us the value of a product?
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"I not only use all the brains that I have, but all that I can borrow. " -- Woodrow Wilson, 28th US president
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CAP
Common Agricultural Policy
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