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RESOURCE ALLOCATION: The process of dividing up and distributing available, limited resources to competing, alternative uses that satisfy unlimited wants and needs. Given that world is rampant with scarcity (unlimited wants and needs, but limited resources), every want and need cannot be satisfied with available resources. Choices have to be made. Some wants and needs are satisfied, some are not. These choices, these decisions are the resource allocation process. An efficient resource allocation exists if society has achieved the highest possible level of satisfaction of wants and needs from the available resources AND resources can not be allocated differently to achieve any greater satisfaction.
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OWNERSHIP LIABILITY The extent to which the owners of a business are liable for the debts of the company. The two basic liability alternatives are unlimited liability, which has no restrictions on ownership liability, and limited liability, which does have restrictions. Ownership liability is one characteristic separating legal business organizations. Proprietorships and partnerships have unlimited liability. Corporations have limited liability.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time strolling through a department store looking to buy either one of those memory foam pillows or a remote controlled train set. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"Leadership is the art of getting someone else to do something you want done because he wants to do it." -- Dwight Eisenhower, 34th US president
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DIDC
Depository Institutions Deregulation Committee
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