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AGGREGATE DEMAND CURVE: A graphical representation of the relation between aggregate expenditures on real production and the price level, holding all ceteris paribus aggregate demand determinants constant. The aggregate demand, or AD, curve is one side of the graphical presentation of the aggregate market. The other side is occupied by the aggregate supply curve (which is actually two curves, the long-run aggregate supply curve and the short-run aggregate supply curve). The negative slope of the aggregate demand curve captures the inverse relation between aggregate expenditures on real production and the price level. This negative slope is attributable to the interest-rate effect, real-balance effect, and net-export effect.
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PRODUCT INNOVATION An innovation of a new product, technology, or idea that generates a beneficial improvement in society and the economy; one that is fundamentally different from existing products, technologies, or ideas. The contrast is with a process innovation, which is an improvement in an existing product, technology, or idea.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either a coffee cup commemorating last Friday (you know why) or a wall poster commemorating the first day of spring. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"Think not of yourself as the architect of your career but as the sculptor. Expect to have to do a lot of hard hammering and chiseling and scraping and polishing. " -- B. C. Forbes, founder, Forbes magazine
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LOCH
London Options Clearing House
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