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LORENZ CURVE: In general, a diagram illustrating the degree of inequality and concentration for a group. This is accomplished by plotting the cumulative percentage of a total amount obtained by cumulative percentages of the group. A common use of the Lorenz curve is the distribution of income, in which the cumulative percentage of income is measured on the vertical axis and the cumulative percentage of the population is measured on the horizontal axis. Perfect equality is indicated by a 45-degree line (that is, 10% of the population has 10% of the income, 20% of the population has 20% of the income, etc.). The actual Lorenz curve inevitably lies below the 45-degree line. The extent that the Lorenz curve differs from the 45-degree line indicates the extent of inequality.
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CONSUMER SURPLUS The satisfaction that consumers obtain from a good over and above the price paid. This is the difference between the maximum demand price that buyers are willing to pay and the price that they actually pay. A related notion from the supply side of the market is producer surplus.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time going from convenience store to convenience store hoping to buy either a black duffle bag with velcro closures or any book written by Isaac Asimov. Be on the lookout for jovial bank tellers.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"He, who every morning plans the transactions of the day, and follows that plan, carries a thread that will guide him through a labyrinth of the most busy life." -- Victor Hugo, Writer
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Income, Nominal Gross National Product
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