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SATISFACTION: The process of successfully fulfilling wants and needs. A basic fact of life is that people want and need stuff to stay alive and to make that life more enjoyable. Satisfaction is the economic term that captures this wants-and-needs-fulfilling process. Satisfying wants and needs is actually the ultimate goal of economic activity, the end result of addressing the fundamental problem of scarcity, and, when you get right down to it, life itself.
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DEMAND SPACE The area on or beneath a demand curve that indicates all possible price-quantity combinations acceptable to buyers. Buyers are willing and able to purchase any price-quantity combination that places them on or below the demand curve, but not above.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at a flea market trying to buy either a brown leather attache case or car battery jumper cables. Be on the lookout for strangers with large satchels of used undergarments.
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A half gallon milk jug holds about $50 in pennies.
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"I much prefer the sharpest criticism of a single intelligent man to the thoughtless approval of the masses." -- Johannes Kepler, German Astronomer
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AIC
Akaike's Information Criterion
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