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PLANNED ECONOMY: An economy, or economic system, that relies heavily on central planning by government to allocate resources and answer the three basic questions of allocation. This is also commonly termed a command economy. A planned economy should be contrasted with a market-oriented economy, or capitalism. One the big spectrum of economy systems, a planned economy lies much closer to the pure command economy extreme than to the pure market economy end. The former Soviet Union and China represent the most noted examples of planned economies.
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MARKET The organized exchange of commodities (goods, services, or resources) between buyers and sellers within a specific geographic area and during a given period of time. Markets are the exchange between buyers who want a good (the demand-side of the market) and the sellers who have it (the supply-side of the market).
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a cross-cut paper shredder or a birthday greeting card for your father. Be on the lookout for the last item on a shelf.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"Adversity is another way to measure the greatness of individuals. I never had a crisis that didn't make me stronger. " -- Lou Holtz, Football Coach
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GSP
Gross State Product, Generalized System of Preferences
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