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<strong>Endorser</strong> – A signer of a promissory note who is secondarily liable for a loan obligation. A lender may require a PLUS applicant with adverse credit history to obtain a creditworthy endorser in order to receive the loan.
price system (DO, P1)<br />A method of allocating goods and services or factors of production by the free movement of prices. The characteristics of this system are its economy in the amount of information needed for decision making and its ability to bring about swift adjustments of supply to demand. Excess DEMAND automatically pushes up prices, giving a direct signal to producers to increase their labour forces and capital stocks. However, the price system is criticized on the grounds that it ignores many sociAL cosTs as these are rarely evaluated and charged to those responsible and can create income inequalities.<br /><em>See also:</em> central planning
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<strong>GED</strong> – General Educational Development certificate, an equivalent of a high school diploma. (See also “Ability to benefit.” )
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