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COMMAND AND CONTROL: A term frequently used when referring to government regulation of pollution emissions. This is where the government imposes regulations on polluters through the use of licenses, permits, zoning regulations, registration, and other controls. It should be contrasted with other methods of pollution control, especially Pigouvian tax, pollution rights market, Coase theorem, and recycling.
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OCCUPATIONAL MOBILITY The mobility, or movement, of factors of production from one type of productive activity to another type of productive activity. In particular, occupational mobility is the ease with which resources can change occupations. This is one of two types of mobility. The other is geographic mobility.
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Fact 1: Our Limited PieThe first stop for any pedestrian on a leisurely stroll through the busy economic streets of Shady Valley is Scarcity Stan's Ye Olde Bakery Shoppe and Confectionery Palace. The most noted pastry on Scarcity Stan's list of delectables, wedged between his mouth-watering apple danishes and scrumptious jelly donuts, is economic pie. My mouth waters with the thought. Economic pie isn't like other donuts, cakes, and confectioneries with their gobs of sweetness, but very little nutritional sustenance. In fact, given that it refers to the sum total of the economy's resources and productive activity, economic pie is filled to the brim with sustenance. Unfortunately, Scarcity Stan and the congregation of people we call society, has only one economic pie, and while it's pretty large, it's never quite as big as we would like.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a cross-cut paper shredder or a birthday greeting card for your father. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"I love the man who can smile in trouble, who can gather strength from distress and grow brave by reflection. " -- Thomas Paine, statesman
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WTO
World Trade Organization
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