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OWNER OCCUPIED: A building or residence (especially a house) that is occupied or lived in by those who have legal ownership. The direct contrast to owner occupied is a rental unit. This term tends to surface most often in the study of economics when calculating Gross Domestic Product (GDP). In particular, the estimated rent on owner-occupied housing is calculated by the folks at the Bureau of Economic Analysis and included in value of GDP.
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KINKED-DEMAND CURVE A demand curve with two distinct segments which have different elasticities that join to form a corner or kink. The primary use of the kinked-demand curve is to explain price rigidity in oligopoly. The two segments are: (1) a relatively more elastic segment for price increases and (2) a relatively less elastic segment for price decreases. The relative elasticities of these two segments is based on the interdependent decision-making of oligopolistic firms.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a lazy Susan for you dining room table or a set of serrated steak knives, with durable plastic handles. Be on the lookout for slightly overweight pizza delivery guys.
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John Maynard Keynes was born the same year Karl Marx died.
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"Try not to become a man of success but rather to become a man of value. " -- Albert Einstein
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IRT
International Trade Commission
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