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Accounting Equation, ALE equation, Balance Sheet equation

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Cambridge Definition

a mathematical statement showing that to calculate a company owners' equity you subtract its liabilities from itsassets

Cambridge Link

ACCOUNTING EQUATION – Cambridge English Dictionary

Wikipedia Definition

The fundamental accounting equation, also called the balance sheet equation, is the foundation for the double-entry bookkeeping system and the cornerstone of accounting science. Like any equation, each side will always be equal. In the accounting equation, every transaction will have a debit and credit entry, and the total debits (left side) will equal the total credits (right side). In other words, the accounting equation will always be "in balance".

Wikipedia Link

Accounting equation – Wikipedia

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Kevin Carney

I'm not an economist and not a finance person. Some years ago, the anthropologist David Graeber, in a Talks at Google lecture about his book Debt: The First 5000 Years, led me to realize that what I understood to be true about what money is, how it works, where it comes from, etc., is mostly not true. My quest to learn more became a bit of an obsession and this blog is part of where I keep notes.

commodity

Summarize with ChatGPTCambridge Definition a substance or a product that can be traded in large quantities, such as oil, metals, grain, coffee, etc. Cambridge Link COMMODITY – Cambridge English Dictionary Wikipedia Definition a commodity is an economic good, usually a resource, that specifically has full or substantial fungibility Wikipedia Link

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Cobb-Douglas Production Function

Summarize with ChatGPTWikipedia Definition In economics and econometrics, the Cobb–Douglas production function is a particular functional form of the production function, widely used to represent the technological relationship between the amounts of two or more inputs (particularly physical capital and labor) and the amount of output that can be produced

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Classical Economics

Summarize with ChatGPTCambridge Definition a theory about economics, developed in Britain in the 18th and 19th centuries, which states that the economy will be most successful when people are allowed to work at jobsthat interest them, and businesses are allowed to competewithout being controlled by the government Cambridge Link CLASSICAL

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central bank

Summarize with ChatGPTCambridge Definition the official bank of a country, whose responsibilities typically include making moneyavailable and controlling interest rates Cambridge Link CENTRAL BANK – Cambridge English Dictionary Wikipedia Definition A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a

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