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WELFARE: An assortment of programs that provide assistance to the poor. The cornerstone of our welfare system is Aid to Families with Dependent Children (AFDC), which was created by the Social Security Act (1935). It provides cash benefits to assist needy families with children under the age of 18. Funding comes partly from the federal government and partly from states. Because states also administer their own programs, benefits and qualification criteria differ from state to state. A second part of the welfare system, one that's run entirely by the federal government, is Supplemental Security Income (SSI). This program provides cash benefits to elderly, blind, and disabled in addition to any benefits received through the Social Security system. Our welfare system includes a whole bunch of additional benefits, including Medicaid, food stamps, low-cost housing, school lunches, job training, day care, and earned-income tax credits.
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EXPLICIT COST An opportunity cost that involves a monetary payment or some other form of compensation. The monetary payment is generally made to compensate the person who initially foregoes the satisfaction. This payment, in effect, transfers the burden of the opportunity cost from the original person to the one making payment. Explicit cost is also commonly termed out-of-pocket or accounting cost, and occasionally explicit opportunity cost.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either a how-to book on the art of negotiation or a flower arrangement for your aunt. Be on the lookout for slightly overweight pizza delivery guys.
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This isn't me! What am I?
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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"Only great minds can afford a simple style." -- Stendhal, writer
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ISMA
International Securities Market Association
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