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POVERTY: A condition in which a person lacks many of the basic necessities of life and the income needed to buy them. If these seems like a fuzzy concept, it is. Poverty is often a subjective notion, because the notion of basic necessities is also subjective. While everyone needs food for life, will a handful of wild grain do the trick or do you need an evening of fine dining? While there are no once-and-for-all, clear-cut answers, our good friends with the government have developed a so-called poverty line used as an official measure of who's in poverty and who's not. Most importantly, this poverty line is used to determine who's eligible to receive welfare and other forms of public assistance.
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AVERAGE PROPENSITY TO CONSUME The proportion of household income that is used for consumption expenditures. The average propensity to consume (abbreviated APC) is really nothing more than average consumption. Together with the average propensity to save, it indicates how a given level of income is divided between consumption and saving. A related consumption measure is the marginal propensity to consume.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a remote controlled train set or a genuine down-filled snow parka. 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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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"The mediocre teacher tells. The good teacher explains. The superior teacher demonstrates. The great teacher inspires." -- William Ward ‚ Texas Wesleyan University Administrator
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MGE
Minneapolis Grain Exchange
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