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DEMAND SPACE: The area on or beneath a demand curve. Buyers are willing and able to purchase any demand price-quantity demanded combination that places them on or below the demand curve, but not above. The reason is that the demand curve represents the maximum demand price for a given quantity demanded or the maximum quantity demanded for a given demand price.
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ABSTRACTION Simplifying the complexities of the real world by ignoring (hopefully) unimportant details while doing economic analysis. Abstraction is an essential feature of the scientific method. Hypothesis verification, model construction, and comparative static analysis are not possible without abstraction.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads seeking to buy either software that won't crash your computer or any book written by Stephan King. Be on the lookout for attractive cable television service repair people.
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This isn't me! What am I?
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy." -- Martin Luther King, Jr.
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SWIFT
Society for Worldwide Interbank Financial Telecommunications
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