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MARKET CLEARING: The price and quantity that equates the quantity demanded and quantity supplied; equates the demand price and supply price; and achieves market equilibrium. In other words, the market is "cleared" of shortages and surpluses.
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FALLACY OF FALSE AUTHORITY The logical fallacy of arguing that something is "correct" or "true" because an "expert" in an unrelated area says so. This is commonly used by both advertisers, politicians, and anyone who relies an "apparent expert" for the "correct" answers to controversial issues.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"If you worried about falling off the bike, you'd never get on. " -- Lance Armstrong, bicycle racer
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LCH
Life Cycle Hypothesis
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