Define Economics and Describe Its Branches of Study

question 405

Essay

Define economics and describe its branches of study.

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Definitions:

Forward Rate

The future interest rate agreed upon in a forward contract, determining the cost of borrowing or lending for future transactions.

Spot Rate

The current market price of a commodity, currency, or security that is available for immediate settlement.

Direct Quote

A foreign exchange rate quoted as the domestic currency per unit of the foreign currency.

British Pound

The currency of the United Kingdom, symbolized as GBP.