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LOCATION THEORY: A theoretical framework for studying the location decisions made of firms and households based on transportation cost and spatial differences in the accessibility of inputs and markets for outputs. Location theory, developed with noted contributions from August Losch, Alfred Weber, Johann von Thunen, Walter Christaller, and Walter Isard, explicitly considers the cost of transportation in the production and consumption choices made by firms and households. Location theory has been used to explain urban density, labor migration, and land use.
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BALANCE ON MERCHANDISE TRADE A subset of the balance of payments current account that records the difference between the payments received for exports of goods to other nations and the payments made for the imports of goods from other nations. The goods included are physical or tangible goods, but not intangible services. The balance on merchandise trade is thus appropriately divided into merchandise exported and merchandise imported. Two other subsets of the current account include the balance on services and unilateral transfers. The commonly termed balance of trade is the sum of the balance on merchandise trade and the balance on services.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either a wall poster commemorating last Friday (you know why) or a country wreathe. Be on the lookout for malfunctioning pocket calculators.
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This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"The greatest barrier to success is the fear of failure." -- Sven Goran Eriksson, writer
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T-BOND
Treasury Bond
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