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BRAND PREFERENCE: The amount of brand loyalty a customer has toward a specific product or service. Some customers are fanatical about a certain brand and will not switch or even consider another substitute. That being said, brand loyalty is sometimes very sensitive to price fluctuations. In the soft drink industry, many consumers will switch back and forth between Pepsi and Coke, depending on which is on sale. These consumers might prefer one product to the other, but are not absolutely loyal or brand insistent.
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IMPACT LAG The time lag that occurs between the implementation of a government policy designed to correct an economic problem and the complete impact of the policy. The impact lag is based on the multiplier process and can last up to a year or two or even longer. This "outside lag" is one of four policy lags associated with monetary and fiscal policy. The other three "inside lags" are recognition lag, decision lag, and implementation lag. All four policy lags can reduce the effectiveness of business-cycle stabilization policies and can even destabilize the economy.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction looking to buy either several magazines on computer software or a T-shirt commemorating the second moon landing. Be on the lookout for malfunctioning pocket calculators.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"Argue for your limitations, and sure enough, they're yours." -- Richard Bach
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IS-LM
Investment/Saving-Liquidity/Money
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