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MAASTRICHT TREATY: An agreement among 12 European nations in 1992 that established the European Union. The 12 nations signing the Maastricht Treaty are Belgium, Denmark, Greece, Germany, Spain, France, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Great Britain. This treaty was designed to form a more economically and politically integrated European economy, including the reduction or elimination of tariffs and nontariff barriers, the creation of monetary unit (the euro), the establishment of a common military and defense policy, and centralized monetary policy. This amended early agreements setting up a European common market. The Maastricht Treaty is merely one of several international trade agreements created over the years to reduce trade restrictions. Others include the General Agreement on Tariffs and Trade and the North American Free Trade Agreement.
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AGGREGATE SUPPLY The total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a given time period. Aggregate supply, usually abbreviated AS, is two different relations between price level and real production--long run and short run. With long-run aggregate supply, prices and wages are flexible and all markets are in equilibrium. With short-run aggregate supply some prices and wage are NOT flexible and some markets are NOT in equilibrium. This is one half of the AS-AD (aggregate market) analysis. The other half is aggregate demand.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store seeking to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for slow moving vehicles with darkened windows.
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This isn't me! What am I?
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"Managing intellectual assets has become the single most important task of business. " -- Thomas Stewart, author
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RMS
Real Market Share
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