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SEC: The abbreviation for Securities and Exchange Commission, which is a federal government agency that regulates the trading of corporate stock to protect investors against unscrupulous practices. Like a number of other federal regulatory agencies, the SEC was established in the 1930s--1934 to be exact. The impetus for its formation was to prevent investors from manipulating the stock market and to prevent other practices that contributed to the 1929 stock market crash. The SEC has all sorts of rules governing the stock market, including information disclosure, insider trading, speculation, and use of credit.
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BUSINESS A profit-motivated organization that combines resources for the production and supply of goods and services. The three primary types of legal organization for a business are proprietorship, partnership, or corporation. A business might theoretically find itself operating in an industry or market structured as perfect competition, monopolistic competition, oligopoly, or monopoly. Regardless of organization and industry structure, a business is generally motivated by the pursuit of profit.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a T-shirt commemorating next Thursday or a birthday gift for your uncle. Be on the lookout for gnomes hiding in cypress trees.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"Far and away the best prize that life has to offer is the chance to work hard at work worth doing." -- Theodore Roosevelt, 26th US president
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RJE
RAND Journal of Economics
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