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ADAM SMITH: A Scottish professor (born 1723, died 1790) who is considered the father of modern economics for his revolutionary book, entitled An Inquiry into the Nature and Causes of the Wealth of Nations published in 1776.
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COMPETITION In general, the actions of two or more rivals in pursuit of the same objective. In an economic context, the specific objective pursued is usually either selling goods to buyers or buying goods from sellers.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a genuine down-filled snow parka or throw pillows for your living room sofa. Be on the lookout for telephone calls from long-lost relatives.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"So many of our dreams at first seem impossible, then they seem improbable, and then when we summon the will, they soon become inevitable." -- Christopher Reeve, Actor
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R&D
Research and Development
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