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PHYSICAL FLOW: In the circular flow, the counter-clockwise transfer of goods and services from the business sector to the household sector and the transfer of resource services from the household sector to the business sector. The payment flow moves in the opposite direction. The physical flow, the physical movement of goods and services, is the foundation of the economy's circular flow. The fundamental problem of scarcity is addressed by physically transforming scarce resources into goods and services that are then used to satisfy wants and needs.
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FRICTIONAL UNEMPLOYMENT Unemployment attributable to the time required to match production activities with qualified resources. Frictional unemployment essentially occurs because resources, especially labor, are in the process of moving from one production activity to another. Employers are seeking workers and workers are seeking employment, the two sides just have not matched up. This mismatch is largely the result of limited information, which is often compounded by geographic separation between producers and resources. Frictional unemployment is one of four unemployment sources. The other three are cyclical unemployment, seasonal unemployment, and structural unemployment. Frictional and structural unemployment are the two components of natural unemployment.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"Success doesn't come to you . . . you go to it " -- Marva Collins, Educator
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WLLN
Weak Law of Large Numbers
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