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OWNERSHIP LIABILITY: The extent to which the owners of a business are liable for the debts of the company. The two basic liability alternatives are unlimited liability, which has no restrictions on ownership liability, and limited liability, which does have restrictions. Ownership liability is one characteristic separating legal business organizations. Proprietorships and partnerships have unlimited liability. Corporations have limited liability.
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SHORT RUN, MACROECONOMICS In terms of macroeconomic analysis, especially the aggregate market (AS-AD) analysis, a period of time in which some prices, notably wages, are rigid, inflexible, or otherwise in the process of adjusting. This is one of two macroeconomic time designations; the other is the long run. Short-run wage and price rigidity prevents some markets, especially resource markets and most notably labor markets, from achieving equilibrium. Wage and price rigidity and the resulting resource market imbalances are the source of the positively-sloped short-run aggregate supply curve.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at an auction hoping to buy either income tax software or a how-to book on the art of negotiation. Be on the lookout for slow moving vehicles with darkened windows.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"Do something wonderful; people may imitate it. " -- Albert Schweitzer, theologian, physician
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AS-AD
Aggregate Supply-Aggregate Demand Model
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