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GOOD TYPES: We can identify four different types of goods based on two key characteristics -- rival consumption and excludability. Private that are rival in consumption and easily subject to the exclusion of nonpayers. Public goods that are nonrival in consumption and the exclusion of nonpayers is virtually impossible. Near-public goods that are nonrival in consumption and easily subject to the exclusion. Common-property goods that are rival in consumption and not easily subject to the exclusion.
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TAXES Legally mandated payments to government that are NOT made in exchange for a good or service. The primary reason government collects taxes is the revenue needed to pay for government expenditures, especially administrative expenses and the provision of public goods. Taxes are one of two methods of obtaining the revenue the government sector uses to pay for expenditures. The other is government borrowing.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a how-to book on building remote controlled airplanes or an extra large beach blanket. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"The secret of getting ahead is getting started. The secret of getting started is breaking your complex, overwhelming tasks into small manageable tasks, and then starting on the first one. " -- Mark Twain, writer
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LBO
Leveraged Buyout
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