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COMMON-PROPERTY GOOD: A good that's difficult to keep nonpayers from consuming, but use of the good by one person prevents use by others. Examples include oceans, the atmosphere, many lakes and streams, and large tracts of wilderness area or public parks. The term "common property" aptly describes the situation here, it's commonly owned and thus everyone has access to it, but it can be easily used up or destroyed. Many of our pollution problems occur because common property becomes a convenient place to dump waste materials. For efficiency, government needs to take charge of common-property goods, private exchange through markets can't do the job.
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CAPITAL ACCOUNT, BALANCE OF PAYMENTS A subset of the balance of payments accounts that tracks the flow of currency and other monetary assets used to purchase financial and physical assets. This part of balance of payments tracks domestic investment in the foreign sector and foreign investment in the domestic sector. This is one of two primary subsets of the balance of payments. The other is the current account. A deficit or surplus in the capital account is matched by an opposite surplus deficit in the current account.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials hoping to buy either a package of blank rewritable CDs or yellow cotton balls. Be on the lookout for neighborhood pets, especially belligerent parrots.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"Whenever you see a successful business, someone once made a courageous decision." -- Peter F. Drucker, business strategist
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FIPS
Federal Information Processing Standards
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