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BY-PRODUCT: One of two goods that are produced jointly using the same resource--that is, the production of one good automatically triggers the production of the other. Also termed joint products or complements-in-production, the phrase by-product is often used when one of the products is unwanted or of secondary importance. For example, sawdust is generally considered a by-product from producing lumber from trees.
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ECONOMIC EFFICIENCY Obtaining the most consumer satisfaction from available resources. In other words, resources are allocated in such a way that consumer satisfaction is at its highest possible level. This is also termed either efficiency or allocative efficiency.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either a large red and white striped beach towel or a bottle of blackcherry flavored spring water. Be on the lookout for crowded shopping malls.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"Gravitation can not be held responsible for people falling in love." -- Albert Einstein
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HKFE
Hong Kong Futures Exchange
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