Whois & Analysis for cambridgecurrencies.com

In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place.

In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products.

The greater the selection of a good is in the market, the lower prices for the products typically are, compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly).

An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum).

The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed.

A service is an act or use for which a consumer, firm, or government is willing to pay.

Examples include work done by barbers, doctors, lawyers, mechanics, banks, insurance companies, and so on.

Public services are those that society (nation state, fiscal union or region) as a whole pays for.

Using resources, skill, ingenuity, and experience, service provider's benefit service consumers.

Services may be defined as intangible acts or performances whereby the service provider provides value to the customer.

A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins.

A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state.

Under this definition, the British Pound sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$) are examples of (government-issued) fiat currencies.

Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies.

Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance; i.e., legal tender laws may require a particular unit of account for payments to government agencies.

International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them.

It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries, including trade, investment and transaction.