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HECKSCHER-OHLIN MODEL: A model of international trade developed by Eli Heckscher and Bertil Ohlin, with significant contributions by Paul Samuelson, that relies on the notion that comparative advantage is based on relative natural resource endowments. A nation with large oil reserves will, for example, have a comparative advantage in oil production over another nation with fertile soil, which will have a comparative advantage in agricultural production.
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GOVERNMENT ENTERPRISES Government owned and operated productive activities that operate much like private sector firms. They hire resources and purchase other inputs, then produce goods sold through markets. In some cases, government enterprises compete directly with private firms. One common example of a government enterprise is a city-operated electrical generation and distribution system. In some cities, this service is provided by private, for-profit, businesses. In other cities it is provided by government. Other examples of government enterprises include urban transportation systems, parks and recreational facilities, and communication systems.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center looking to buy either a wall poster commemorating the first day of winter or blue cotton balls. Be on the lookout for gnomes hiding in cypress trees.
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This isn't me! What am I?
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"I do not believe in a fate that will fall on us no matter what we do. I do believe in a fate that will fall on us if we do nothing. " -- Ronald Reagan, 40th US president
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