|
|
SEVENTH RULE OF COMPLEXITY: The seventh of seven basic rules of the economy. It is the observation that the world is complex, that every action has direct and often intended consequences and indirect and probably unintended effects (that is, cause and effect). A few of the more noted illustrations of this seventh rule are the circular flow (especially the expenditure multiplier) and market failures (especially externalities).
Visit the GLOSS*arama
|
|

|
|
|
THIRD ESTATE Another term for consumers and the household sector. This is one of four divisions of society based on economic function. The other three are government as the first estate, businesses as the second estate, and journalists as the fourth estate.
Complete Entry | Visit the WEB*pedia |


|
|
|
More money is spent on gardening than on any other hobby.
|
|
|
"The only profit center is the customer." -- Peter Drucker, educator
|
|
IROR Internal Rate of Return
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|