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REGIONAL ECONOMICS: The economic study of regions based on the consideration of space, transportation cost, and location in production and consumption decisions. Regional economics studies a wide variety of topics, including the migration of labor, the macroeconomic activity in cities and states, and the location choices of firms. A closely related area of study that focuses on economic activity within and between cities is termed urban economics.
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INCOME CHANGE, UTILITY ANALYSIS A disruption of consumer equilibrium identified with utility analysis caused by changes in the buyers' income, which results in a change in the quantities of the goods consumed. The change in buyers' income alters the income constraint and forces a reevaluation of the rule of consumer equilibrium.
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"The only place success comes before work is in the dictionary. " -- Vince Lombardi
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LISH
last In Still Here
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