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INDUCED CONSUMPTION: Household consumption expenditures that depend on income or production (especially disposable, national income, or gross national product). An increase in household disposable income triggers an increase in induced consumption expenditures. Induced consumption is graphically depicted as the slope of the consumption or propensity-to-consume line, and are measured by the marginal propensity to consume. The induced relation between income and consumption, as well as other induced expenditures, form the foundation of the multiplier effect triggered by changes in autonomous expenditures.
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FREE ENTERPRISE In theory, an economic system that relies extensively, if not exclusively, on unregulated markets to exchange resources, goods and services, and to answer the three questions of allocation. In practice, this term is often used synonymously with capitalism.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers hoping to buy either a rim for your spare tire or decorative celebrity figurines. Be on the lookout for vindictive digital clocks with revenge on their minds.
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive business advantage. " -- Jack Welch, General Electric chief executive
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