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OTHER PRICES: A handy term referring to the prices of other goods that affect either the demand for a good or the supply of the good. On the demand side, other prices can be those for substitutes-in-consumption or complements-in-consumption. On the supply side, other prices can be those for either substitutes-in-production or complements-in-production. Changes in other prices cause shifts in the corresponding demand or supply curves.
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SECOND RULE OF SUBJECTIVITY The second of seven basic rules of the economy, stating that market prices are determined by subjective values and the preferences of buyers and resource owners. Contrary to popular opinion, prices and costs are not immutably facts of nature, but are ultimately based on what people are willing to pay or accept.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads hoping to buy either a microwave over that won't burn your popcorn or a T-shirt commemorating the first day of winter. Be on the lookout for neighborhood pets, especially belligerent parrots.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"Be willing to have it so. Acceptance of what has happened is the first step to overcoming the consequences of any misfortune." -- William James, Psychologist
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CAP
Common Agricultural Policy
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