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SCARCE GOOD: A resource with an available quantity less than its desired use. Scarce resources are also called factors of production. Scarce goods are also termed economic goods. Scarce resources are used to produce scarce goods. Like the more general society-wide condition of scarcity, a given resource is scarce because it has a limited availability in combination with a greater (potentially unlimited) productive use. It's both of these that make it scarce. In other words, even though an item is quite limited it will not be a scarce resource if it has few if any uses (think pocket lint and free good).
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COST OF LIVING The amount of income or money needed to acquire a given quantity of goods and services or to achieve a given living standard. This cost of living notion is closely intertwined with inflation, the economy's price level, and the concept of purchasing power.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at a flea market wanting to buy either super soft, super cuddly, stuffed animals or a large stuffed brown and white teddy bear. Be on the lookout for high interest rates.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"Ships are safe in harbor. But that is not what ships are for." -- Anonymous
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L/I
Letter of Intent
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