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LOCAL OUTPUT: An output that has a relatively small geographic market area due to the high cost of transportation. The high transportation cost means it is easier (that is, less expensive) to locate consumers near the output rather than trying to bring the output to the consumers. Like many things, local outputs are a matter of degree. At the other end of the spectrum lies transferrable outputs. Services, such as legal advice, health care, and entertainment, that are consumed as they are produced, tend to have a great deal of local orientation.
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PRICE STABILITY The condition in which the average price level in the economy changes very slowly, if at all. This is a key part of the macroeconomic goal of stability. Price stability is commonly indicated by the inflation rate, calculated as percentage change in either the Consumer Price Index (CPI) or the GDP price deflator. Price stability is generally achieved by the ABSENCE of large or rapid increases or decreases in the price level.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either a birthday gift for your aunt or a pair of leather sandals that won't cause blisters. Be on the lookout for cardboard boxes.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"Most human beings have an almost infinite capacity for taking things for granted. " -- Aldous Huxley, writer
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SSAP
Statement of Standard Accounting Practice
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