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September 4, 2026 

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Y-AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the "vertical axis" that runs up and down.

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SCARCITY

A pervasive condition of human existence that results because society has unlimited wants and needs, but limited resources used for their satisfaction. This fundamental condition is the common thread that binds all of the topics studied in economics.

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Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either several magazines on home repairs or a remote controlled sports car with an air spoiler. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
"Don't waste your effort on a thing that results in a petty triumph unless you are satisfied with a life of petty issues. "

-- John D. Rockefeller, industrialist

NEDC
National Economic Development Council
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