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NON-COUNTERFEITABILITY: One of four characteristics that enables an asset to better function as money. The other three are durability, divisibility, and transportablity. This characteristic means that the item used as money can not be easily counterfeited, that is, duplicated by entities not authorized to do so. Money that can be easily duplicated ceases to function effectively as a medium of exchange.
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ACCOUNTING PROFIT The difference between the revenue received by a firm and the explicit accounting cost incurred. This is the profit listed on a firm's balance sheet, appears periodically in the financial sector of the newspaper, and is reported to the Internal Revenue Service for tax purposes. While accounting profit is the "standard" designation of profit used in the business world, economists prefer to use economic profit
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs seeking to buy either a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or decorative garden figurines. Be on the lookout for cardboard boxes.
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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"The roots of education are bitter, but the fruit is sweet." -- Aristotle, philosopher
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ECU
European Currency Unit
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