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FINANCIAL DICTIONARY & GLOSSARY: INV - LA
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investment grade - a rating given to a bond-issuing company by private ratings companies, according to its financial situation and performance.

investment trust - a limited company (with a fixed share capital) that holds and deals in shares of other companies, to provide a low-risk income for its shareholders.

investor - a person or organization that buys property or securities in order to receive an income or make a profit.

invisible hand - according to Adam Smith, the mechanism that leads individuals, in selfishly pursuing their own interests, to achieve the best good for all.

invisible trade - trade in services rather than tangible goods, e.g. banking, insurance, technical expertise.

invoice - a list of goods or services received that serves as a bill.

involuntary unemployment - when people seek paid employment but there are not enough jobs to be had.

IS curve - traces the combination of interest rates and GNP at which investment equals saving.

issue - to offer securities for sale to the general public; a quantity of securities offered to the public.

issued share capital - the amount of capital that a company has sold at any particular time.

issuing house - in Britain, a financial firm (usually a merchant bank) that specializes in finding buyers for new shares or bonds.

jobless - unemployed (adjective and collective noun).

job-order cost accounting - determines the cost of an individual item or batch or job lot of assembled goods.

journal - book in which transactions are recorded in the order that they take place.

junk bond - high-yielding bond issued by less secure companies; also used to finance leveraged buy-outs.

kerb market - an unofficial market in which securities are bought and sold, e.g. when the official stock exchange is closed.

Keynesianism - the belief that government intervention in the economy is sometimes necessary as the market system does not automatically lead to full employment.

labor union - see trade union.

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