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LIMITED LIABILITY: A condition in which owners are not personally held responsible for the debts of by a firm. Corporations are the main form of business in which owners have limited liability. The primary benefit of limited liability is that it makes it possible for a business to accumulate large amounts of productive resources that lets it take advantage of large scale production.
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DEMAND-DRIVEN BUSINESS CYCLES Business-cycle instability caused by changes in one or more of the four aggregate demand expenditures on gross domestic production--consumption expenditures, investment expenditures, government purchases, and net exports. This is one of two basic types of business cycles--the other being supply-driven business cycles. Demand-driven business cycles tend to be the more common of the two types.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"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." -- Sir Edmund Hillary, Explorer
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ICAPM
Intertemporal Capital Asset Pricing Model
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