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Advance Money On: GRESHAM'S LAW, gresh'amz, in economics, is usually stated as "bad money drives out good." The law stems from the fact that money has a value both as money and as a commodity in the open market. The former value is set arbitrarily by law and is relatively fixed; the latter is determined by supply and demand and varies from time to time, "Good money" has a higher value as a commodity than as money and will disappear from circulation.
An advance money on deposit equal to a one-night room charge plus tax may be accepted to guarantee a reservation. (Figure 4-6 shows an example advance money on deposit form.) Small properties discourage advance money on deposits because of the additional paperwork required. In recent years, credit card guarantees have become much more common in the United States. However, overseas, hotels often require advance money on payment in full to hold a reservation, regardless of the anticipated arrival time.
But even if you never advance money on beyond your local market for pictures, you will have a great time in this field of photography—provided you are a sports lover.
It seems to be a peculiarity of pet owners that they enjoy spending money on their beloved animals. The opportunities for the average person to get a good photograph of his pet are extremely rare. So, if you want to be a pet photographer, you will find little competition.
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