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ECONOMIC GOALS: The five basic conditions of the mixed economy that are generally desired by society. We typically divide these five into macro goals (full employment, stability and economic growth) and micro goals (efficiency and equity).
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ACCOUNTING COST An actual outlay or expenses incurred in the production of a good that shows up in a firm's accounting statements and records. Accounting cost is an explicit payment (that is, money changing hands) incurred by a firm. Accounting cost, while very important to accountants, company CEOs, shareholders, and the Internal Revenue Service, is only minimally important to economists. The reason is that economists are more interested in economic cost (also called opportunity cost), which is the value of foregone production.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale trying to buy either a remote controlled sports car with an air spoiler or semi-gloss photo paper that works with your neighbor's printer. Be on the lookout for deranged pelicans.
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This isn't me! What am I?
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The average bank teller loses about $250 every year.
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"The only thing that will stop you from fulfilling your dreams is you. " -- Tom Bradley, former Los Angeles mayor
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SIPP
Survey of Income and Program Participation
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