Liamxavier

Pre-incorporation contract - -A written agreement concluded on behalf of a company before its formation with the intention that the company will be bound by it -Ring-fenced company - -A company that has an express limitation on its capacity -A share - -One of the units into which the propriety interest in a profit company is divided -Ultra vires

cash purchase of office supplies - -increase one asset and decrease another asset --owner withdrew cash from the business - -decrease an asset and decrease equity --paid cash on accounts payable - -decrease asset and decrease liability --made a cash sale for services - -increase an asset and increase equity --borrowed money from the bank - -inc

Specialization - -when countries produce the things they do best in exchange for the things that other people do best -Exports - -Goods and services that a country produces and sells to other nations -Imports - -Good and services that a country buys from another country -Absolute Advantage - -When a country produces more of a product than anothe

A computer program that is installed on the hard drive of a personal computer and that requires a computer operating system such as Microsoft Windows or Apple OSX to run. - -Desktop app -A sequence of folders (directories) that leads to a specific file or folder. - -Path -An operating system developed by Microsoft Corporation. - -Windows 10 -A c

Economic Liberalism - -approach that generally shares the assumption of anarchy but does not see this condition as precluding extensive. Cooperation to realize common gains from economic exchanges. Emphasizes absolute over relative gains and in practice, a commitment to free trade, free capital flows and an open world economy -Free Trade - -the fl

when one part to a transaction knows more than another, the situation is one of - -asymmetric information -when people or firms that are worse than average risks are most likely to enter a contract that is offered to everyone, the problem is called - -adverse selection -a bank offers credit cards with a 25% interest rate, when its competitors' ca

Assets are things that are useful or things that have value. T or F. - -True -One of the most important prices determined in financial markets is the __________________ rate. - -interest -When a coffee shop lists a tall coffee on its menu at $2.95, the coffee shop is using money as a - -unit of account -Mandy goes to the grocery store to buy gro

Gold Standard - -A monetary system in which paper money and coins are equal to the value of a certain amount of gold -dirty float - -A system under which a country's currency is nominally allowed to float freely against other currencies, but in which the government will intervene, buying and selling currency, if it believes that the currency has d

Foraging Ecology - -(Ruminants, kangaroo). Consumers eating the resources and the the predators eating the consumers. -Foregut fermenter - -Pre-gastric fermentation. First fermentation of the carbohydrates. Then enzymatic digestion (break down of proteins). Can not eat very fibrous food , digestive constrain. -Hindgut fermenter - -(Horse, zebra,

What is the problem with using barter for transactions? What is the advantage of using money for transactions instead of barter? - -• Requires a double coincidence of wants • Money simplifies and increases the number of market transactions • Money promotes economic growth -What are the functions of money? - -• It must... 1. Act as a medium of exch