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CHAEBOL: A form of business structure common in South Korean which involves an alliance of businesses, each working toward the mutual success of the group. The alliance also has close ties to government. This is comparable to the keiretsu, which is common in Japan. Each "independent" business owns stock in the others and shares executives and directors.
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UNLIMITED WANTS AND NEEDS A basic condition of human existence which means that people are never totally satisfied with the quantity and variety of goods and services the consume. It means that people never get enough, that there's always something else that they would want or need. Unlimited wants and needs are one half of the fundamental problem of scarcity that has plagued humanity since the beginning of time. The other half of the scarcity problem is limited resources.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a how-to book on the art of negotiation or a flower arrangement for your aunt. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"Don't be afraid if things seem difficult in the beginning. That's only the initial impression. The important thing is not to retreat; you have to master yourself." -- Olga Korbut, Gymnast
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UTP
Unfair Trade Practice
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