ACADEMY ASSOCIATION OF ECONOMICS CERTIFIED CHARTERED ECONOMISTS CHE CEPA

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American Stock Exchange: One of the key stock exchanges in the United States, it consists mainly of stocks and bonds of companies that are small to medium-sized, compared with the shares of large corporations traded on the New York Stock Exchange.

Antitrust law: A policy or action that seeks to curtail monopolistic powers within a market.

Asset: A possession of value, usually measured in terms of money. 112

Balance of payments: An accounting statement of the money value of international transactions between one nation and the rest of the world over a specific period of time. The statement shows the sum of transactions of individuals, businesses, and government agencies located in one nation, against those of all other nations.

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Famous Economics Quote

Friedrich August von Hayek, 1974 Nobel Prize Winner

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."

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