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A Quick Tip by Sharrie

  • Jan 24, 2010
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It's still what makes the whole world goes around, despite the 2008 financial disaster, nothing has changed much!
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More Credit (finance) reviews
review by . January 22, 2010
Credit vs Risk, Round 1
   Risk Management: Investing & Credit & The World of Finance     Risk Risk is inherent in the act of living. It is something we take as soon as we arrived on this planet. We took in our first breath on that fateful day in a planet where germs dwell. Our bodies adjus to foreign invasion and we thrive when we won. These are battles we take everyday and we think nothing of it. We learn to walk by falling, we take steps to build our muscles and bones. We ride the …
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Sharrie ()
Ranked #3
I'm a traveler at heart & have been nicknamed Travel Queen by friends & colleagues alike. Traveling has been my life passion for the last decade or so. As we enter a new decade, I'm excited … more
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Wiki

Credit is the provision of resources (such as granting a loan) by one party to another party where that second party does not reimburse the first party immediately, thereby generating a debt, and instead arranges either to repay or return those resources (or material(s) of equal value) at a later date. It is any form of deferred payment.[1] The first party is called a creditor, also known as a lender, while the second party is called a debtor, also known as a borrower.

Movements of financial capital are normally dependent on either credit or equity transfers. Credit is in turn dependent on the reputation or creditworthiness of the entity which takes responsibility for the funds.

Credit need not necessarily be based on formal monetary systems. The credit concept can be applied in barter economies based on the direct exchange of goods and services, and some would go so far as to suggest that the true nature of money is best described as a representation of the credit-debt relationships that exist in society (Ingham 2004 p.12-19).

Credit is denominated by a unit of account. Unlike money (by a strict definition), credit itself cannot act as a unit of account. However, many forms of credit can readily act as a medium of exchange. As such, various forms of credit are frequently referred to as money and are included in estimates of the money supply.

Credit is also traded in...

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