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ACCUMULATION: The process of acquiring an item and adding that item to others previously acquired. In an economic context this most often refers to the accumulation of capital, as in the phrase "capital accumulation." However, it is also used in the context of consumer durable goods, financial assets, money, wealth, and a host of other "stock" variables. When applied to capital, the process of accumulation occurs through investment.
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MARKET-CLEARING PRICE The price that exists when a market is clear of shortage and surplus, or is in equilibrium. Market-clearing price is a common, non-technical term for equilibrium price. In a market graph, the market-clearing price is found at the intersection of the demand curve and the supply curve.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales hoping to buy either a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or a wall poster commemorating the 2000 Olympics. Be on the lookout for neighborhood pets, especially belligerent parrots.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"Unless you are willing to drench yourself in your work beyond the capacity of the average man, you are just not cut out for positions at the top." -- J. C. Penney, Retailer
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CME
Chicago Mercantile Exchange
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