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ECONOMIC ANALYSIS: The process of investigating economic phenomena in a systematic manner. In one sense, this is the heart and soul of the economic discipline. While economists spend ample time identifying economic concepts, the end result of this discovery process is usually aimed at combining these concepts in such a way as to evaluate or analyze alternative consequences.

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IMPLICIT COST

An opportunity cost that does not involve a monetary payment or any other form of compensation. The monetary payment that is often made to compensate the person who initially foregoes the satisfaction is not made for implicit cost. There is no payment to transfer the burden of the opportunity cost from the original person to someone else. Implicit cost is also occasionally termed implicit opportunity cost.

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APLS

ORANGE REBELOON
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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors hoping to buy either one of those memory foam pillows or a remote controlled train set. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?

Lombard Street is London's equivalent of New York's Wall Street.
"Always remember that striving and struggle precede success, even in the dictionary. "

-- Sarah Ban Breathnach, writer

WACM
Weak Axiom of Cost Minimization
A PEDestrian's Guide
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