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FLOW: A variable or measurement that is defined for a period of time (as opposed to an instant in time). A flow can only be measured over a period. For example, GDP is the flow of production during a given year. Income is another flow measures important to the study of economics.
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PRODUCTION POSSIBILITIES CURVE A curve that illustrates the production possibilities of an economy--the alternative combinations of two goods that an economy can produce with given resources and technology. A production possibilities curve (PPC) represents the boundary or frontier of the economy's production capabilities, hence it is also frequently termed a production possibilities frontier (PPF). As a frontier, it is the maximum production possible given existing (fixed) resources and technology. Producing on the curve means resources are fully employed, while producing inside the curve means resources are unemployed. The law of increasing opportunity cost is what gives the curve its distinctive convex shape.
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PINK FADFLY
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Today, you are likely to spend a great deal of time at the confiscated property police auction trying to buy either storage boxes for your family photos or a large, stuffed giraffe. Be on the lookout for strangers with large satchels of used undergarments.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"I think luck is the sense to recognize an opportunity and the ability to take advantage of it . The man who can smile at his breaks and grabs his chance gets on." -- Samuel Goldwyn, Film executive
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AEA
American Economic Association
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