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PERFECTLY ELASTIC: An elasticity alternative in which infinitesimally small changes in price cause infinitely large changes in quantity. In other words, quantity is hyper, super, infinitely responsive to price. Any change in price, no matter how small triggers an infinite change in quantity. Perfectly elastic should be compared with other elasticity alternatives--perfectly inelastic, relatively elastic, relatively inelastic, and unit elastic.
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MACROECONOMIC MARKETS Three sets of markets that make up the macroeconomy--product, financial, and resource--which exchange the three primary types of macroeconomic commodities--gross production, legal claims, and factor services. The four macroeconomic sectors--household, business, government, and foreign--interact through these three sets of markets. The primary objective of macroeconomic theories is to explain activity that takes place in these three sets of markets.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for malfunctioning pocket calculators.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Genius is an infinite capacity for taking pains. " -- Jane Ellis Hopkins, writer
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ACRS
Accelerated Cost Recovery System
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