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BACKSTOP RESOURCE: A sustainable, renewable natural resource that is used in place of, and as a substitute for, finite, exhaustible natural resources that have been exhausted. A sustainable resource is one in which the amount used today cannot reduce the amount available tomorrow.The best example is solar energy. No matter how much solar energy we use today, the same amount reaches the planet every day in the future. A backstop resource is then a sustainable resource, like solar energy, that society uses after finite resources, like fossil fuels, have been exhausted. In fact, solar energy is often considered THE backstop energy resource. It represents THE "safety net" that's available when fossil fuels are depleted.
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ASSUMPTION An initial condition or statement of a model or theory that sets the stage for an analysis by abstracting from the real world. Assumptions are important to economic analysis. Some assumptions are used to simplify a complex analysis into more easily manageable parts. Other assumptions are used as control conditions that are subsequently changed to evaluate the consequences.
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What Do You Have Against DISCRIMINATION?Hunger is, of course, an avoidable malady when ambling through the economy. At the present, I'm easily tempted by a hamburger, fries, and large cola -- a pedestrian meal if there ever was one. As luck would have it, we've found ourselves at the door of Big Ott's Boiled Burger Buffet. Luck, though, is not totally on our side. Big Ott's has a large sign prominently posted at the entry to his establishment. It screams in no uncertain terms: NO PEDESTRIANS ALLOWED. As a well-known, card-carrying pedestrian, I am, to say the least, taken aback. Why on earth would Big Ott's Boiled Burger Buffet refuse service to pedestrians? A quick quiz of an employee reveals that Big Ott once swerved off the sidewalk to avoid striking a pedestrian, causing extensive damage to his sleek, new OmniMotors XL GT 9000 convertible sport coupe. His anger has been since extended to all who travel by foot.
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Visit the PEDestrian's Guide
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages trying to buy either a video game player or an AC adapter that won't fry your computer. Be on the lookout for broken fingernail clippers.
Your Complete Scope
This isn't me! What am I?
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"Defeat is simply a signal to press onward. " -- Helen Keller, author, lecturer
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MPS
Marginal Propensity to Save
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