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ADVERSE SELECTION: When a negotiation between two people with different amounts of information, that is, asymmetric information, restricts the quality of the good traded. This typically happens because the person with more information is able to negotiate a favorable exchange. This is frequently referred to as the "market for lemons."

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NEEDS

The physiological or biological requirements for maintaining life, such as air, water, food, shelter, and sleep. Physiological needs are often contrasted with psychological wants that make life more enjoyable, but are not essential for existence.

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APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time watching the shopping channel hoping to buy either shoe laces for your snow boots or a rim for your spare tire. Be on the lookout for cardboard boxes.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
"My philosophy of life is that if we make up our mind what we are going to make of our lives, then work hard toward that goal, we never lose - somehow we win out."

-- President Ronald Reagan

FCLT
Functional Central Limit Theorem
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