|
|
PARETO IMPROVEMENT: Based on the Pareto efficiency criterion, the notion that an action improves efficiency if it is possible for one person to benefit without anyone else being harmed. A Pareto improvement is possible if the economy has idle resources or market failures. With idle resources, more production is possible to help some without hurting others. With market failures, corrective actions can eliminate deadweight loss that can then be use for benefits economy-wide. A contrasting condition for attaining efficiency is the Kaldor-Hicks improvement.
Visit the GLOSS*arama
|
|
|
|
|
MANAGERIAL BEHAVIOR A preference for maintaining the status quo over changing it based on relatively greater satisfaction generated by redundant information over novel information. Managerial behavior is well suited for keeping an existing business and complex organizations running smoothly and efficiently. This behavior is inclined to manage, to administer, and to apply existing rules and procedures. An alternative is entrepreneurial behavior, which is a preference for changing the status quo over maintaining it.
Complete Entry | Visit the WEB*pedia |
|
|
PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either a pair of blue silicon oven mitts or a coffee cup commemorating the 2000 Olympics. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
Your Complete Scope
This isn't me! What am I?
|
|
|
Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
|
|
|
"Try not to become a man of success, but rather try to become a man of value. " -- Albert Einstein
|
|
LIFO
Last In First Out
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
