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GRAPHICAL ANALYSIS: The process of investigating economic phenomena in a systematic manner using graphs and diagrams. Graphical analysis is a common type of economic analysis.

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AUCTION

A formal market exchange in which prospective buyers make bids to purchase a commodity. An auction is an effective way of exchanging commodities by bringing together buyers and sellers. Auctions are commonly used to exchange financial instruments, agricultural commodities, personal assets, and works of art. Three notable types of auctions are English, Dutch, and sealed-bid.

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Today, you are likely to spend a great deal of time wandering around the shopping mall wanting to buy either a weathervane with a horse on top or a case of blank recordable DVDs. Be on the lookout for the last item on a shelf.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
"I can't change the direction of the wind, but I can adjust my sails to always reach my destination."

-- Jimmy Dean

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