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WORLD VIEW: An aspect of a scientific theory that includes fundamental, and unverifiable axioms, beliefs, and values about how the world works. On example of an unverifiable world view axiom is belief in the existence of supreme, omnipotent, omniscience being. Political philosophies, which are essential to economic theories, are intertwined with alternative world views.

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SUPPLY DECREASE

A decrease in the willingness and ability of sellers to sell a good at the existing price, illustrated by a leftward shift of the supply curve. A decrease in supply is caused by a change in a supply determinant and results in a decrease in equilibrium quantity and an increase in equilibrium price. A supply decrease is one of two supply shocks to the market. The other is a supply increase.

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Today, you are likely to spend a great deal of time touring the new suburban shopping complex hoping to buy either a tall storage cabinet with five shelves and a secure lock or a birthday greeting card for your grandmother. Be on the lookout for celebrities who speak directly to you through your television.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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