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VERIFIED PRINCIPLE: A generally accepted, verified, fundamental law of nature that has been tested against and verified with real world data. A verified principle begins as an hypotheses implied by a theory, which is then compared against real world observations. If the hypothesis is consistently supported by data, it achieves the rank "verified" principle. This should be contrasted with unverifiable axiom.
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DETERMINANTS Ceteris paribus factors that are held constant when a curve is constructed. Changes in these factors then cause the curve to shift to a new location. The most common determinants are demand determinants for the demand curve and supply determinants for the supply curve. Other curves used in the analysis of economics also have notable determinants, including the production possibilities curve, the aggregate demand curve, the aggregate supply curve, and the short-run average cost curve.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale trying to buy either galvanized steel storage shelves or a large green chalkboard shaped like the state of Maine. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"There is no passion to be found playing small ‚ in settling for a life that idles than the one you are capable of living." -- Nelson Mandela
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ECLA
Economic Commission for Latin America
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