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DEMAND AND SUPPLY DECREASE: A simultaneous decrease in the willingness and ability of buyers to purchase a good at the existing price, illustrated by a leftward shift of the demand curve, and a decrease in the willingness and ability of sellers to sell a good at the existing price, illustrated by a leftward shift of the supply curve. When combined, both shifts result in a decrease in equilibrium quantity and an indeterminant change in equilibrium price.
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SCREENING When confronted by asymmetric information, the use of small bits of information, or indicators, that suggest more comprehensive information. Screening occurs when those with limited information try to identify indicators suggesting more complete information. It is used in markets with adverse selection and moral hazard, especially in labor markets and in the provision of insurance. Common methods of screening include aptitude tests, affiliations, past behavior, and personal characteristics. A related method is signalling.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a flea market trying to buy either software that won't crash your computer or any book written by Stephan King. Be on the lookout for telephone calls from long-lost relatives.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"Failure is the opportunity to begin again, more intelligently. " -- Henry Ford, automobile manufacturer
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PHLX
Philiadelphia Stock Exchange
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