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Topic Pages - Institutions
Federal Reserve System
Central banking system of the United States. Established in 1913, it began to operate in Nov., 1914. Its setup, although somewhat altered since...
International Monetary Fund
(IMF), specialized agency of the United Nations, established in 1945. It was planned at the Bretton Woods Conference (1944), and its...
World Trade Organization
Specialized, rules-based, member-driven agency of the United Nations, world trade monitoring body established in January 1995...
Organization of Petroleum Exporting Countries
(OPEC), multinational organization (est. 1960, formally constituted 1961) that coordinates petroleum policies and economic aid among...
Bank of England
Central bank and note-issuing institution of Great Britain. Popularly known as the Old Lady of Threadneedle Street, its main office stands on...
Topic Pages - Related fields
Classification, analysis, and interpretation of the financial, or bookkeeping, records of an enterprise. The professional who supplies such...
Primarily the business of dealing in money and instruments of credit. Banks were traditionally differentiated from other financial institutions...
In economics, that part of the process of production and exchange that is concerned with the flow of goods and services from producer to...
Any of various methods used by a company to increase the sales of its products or services or to promote a brand name. Advertising is...
Topic Pages - Terms and Concepts
Term that actually refers to two concepts: the abstract unit of account in terms of which the value of goods, services, and obligations can be...
Organized market for the trading of stocks and bonds (see bond; stock). Such markets were originally open to all, but at present only...
Organized traders' exchange in which standardized, graded products are bought and sold. Worldwide, there are 48 major commodity exchanges that...
In law, organization enjoying legal personality for the purpose of carrying on certain activities. Most corporations are businesses for profit...
Financial institution designed to regulate and control the money supply of a nation, with the goal of fostering economic growth without...
Charge for the use of credit or money, usually figured as a percentage of the principal and computed annually. Simple interest is computed...
In finance, usually a formal certificate of indebtedness issued in writing by governments or business corporations in return for loans. It bears...
Something that is owed by a person, organization, or country, usually money, goods, or services. Debt usually occurs as a result of...
In law, an obligation of one party to another, usually to compensate financially. It is a fundamental aspect of tort law, although liability...
In law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to...
savings and loan association
Type of financial institution that was originally created to accept savings from private investors and to provide home mortgage services for the...
Traffic in goods. Conducted by gift, barter, or sale, trade is one of the most widespread of all social institutions. Early Trade The...
Organization of workers that exists to promote and defend the interests of its members, to achieve improved working conditions, and...
Legislation dealing with human beings in their capacity as workers or wage earners. The Industrial Revolution, by introducing the machine and...
Assessment levied upon individual or corporate incomes. Although personal incomes were occasionally taxed in medieval Italian cities, the income...
Granting of goods, services, or money in return for a promise of future payment. Most credit is accompanied by an interest charge, which...
In law, a promise, enforceable by law, to perform or to refrain from performing some specified act. In a general sense, all civil obligations...
Right granted by statute to the author or originator of certain literary, artistic, and musical productions whereby for a limited period of time...
In law, governmental grant of some privilege, property, or authority. Today patent refers to the granting to the inventor of a useful product or...
Activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public...
Commerce conducted over the Internet , most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to...
Prohibition by a country of the departure of ships or certain types of goods from its ports. Instances of confining all domestic ships to port...
National or international organization of manufacturers or traders allied by agreement to fix prices, limit supply, divide markets, or to fix...
Tax on imported and, more rarely, exported goods. It is also called a customs duty. Tariffs may be distinguished from other taxes in that their...
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