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Prebisch-Singer thesis (F1)<br />A thesis arguing that as the TERMS OF TRADE have moved against developing countries, protection and import substitution should be used to promote industrialization in such countries. This approach was advocated as a means of reducing income inequalities between nations.<br /><em>Reference</em><br />Prebisch, R. (1950) The Economic Development of Latin America and its Principal Problems, New York: United Nations.<br /> Singer, H.W. (1950) 'The distribution of gains between investing and borrowing countries', American Economic Review 40: 473 - E5. precautionary demand for money (E4) The CASH needed to meet unforeseen expenditures. The expansion of credit facilities has reduced this demand.<br /><em>See also:</em> speculative demand for money; transactions demand for money
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market-maker (G1)<br />A stockbroker who both carnes out clients' orders to buy or sell and trades on his or her own account. By being prepared to buy and sell at all times, he or she creates a market in stocks and shares. The London STOCK EXCHANGE copied this system from the NATIONAL ASSOCIATION OF SECURITIES DEALERS AUTOMATED QUOTATION SYSTEM when the jobbing system peculiar to the UK was abandoned in 1986. But London did not
bimodal frequency curve (Cl)<br />A FREQUENCY CURVE with two maxima.
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they do not possess, e.g. part of the sky, to another person, or to devise other fraudulent investment schemes.<br /><em>See also:</em> bubble; Securities and Exchange Commission
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