|
|
MARKET FAILURE: A condition in which a market does not efficiently allocate resources to achieve the greatest possible consumer satisfaction. The four main market failures are--(1) public good, (2) market control, (3) externality, and (4) imperfect information. In each case, a market acting without any government imposed direction, does not direct an efficient amount of our resources into the production, distribution, or consumption of the good.
Visit the GLOSS*arama
|
|
|
|
|
PRODUCTION POSSIBILITIES An analysis of the alternative combinations of two (or more) goods that an economy can produce with existing resources and technology in a given time period. Production possibilities analysis provides insight into the fundamentals of economic thinking, including the introduction of key economic concepts. This analysis usually centers on either a convex production possibilities curve (or frontier) that reflects alternative production combinations of two goods.
Complete Entry | Visit the WEB*pedia |
|
|
BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club wanting to buy either a T-shirt commemorating the second moon landing or a coffee cup commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for celebrities who speak directly to you through your television.
Your Complete Scope
This isn't me! What am I?
|
|
|
In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
|
|
|
"The creative is the place where no one else has ever been. the You have to leave the city of your comfort and go into wilderness of your intuition. What you'll discover will be wonderful. What you'll discover will be yourself." -- Alan Alda, Actor
|
|
AGI
Adjusted Gross Income
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
