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SELLERS' MARKET: A disequilibrium condition in a competitive market that has a shortage, such that sellers are able to force the price up. Note that a sellers' market does not mean that the lack of competition among demanders have given sellers market control. A sellers' market is a competitive market that is faced with a temporary imbalance between the quantity supplied by the sellers and the quantity demanded by the buyers.
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RISK PREMIUM The difference between a guaranteed or certain income and a risky income that generate the same level of utility. Risk premium is the amount of income that a risk adverse person is willing to pay to avoid the risk. Alternatively, it is the amount of income that a risk loving person is willing to pay to engage in risk. For risk aversion, the risk premium is the amount a person would pay for insurance.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at an auction hoping to buy either a set of serrated steak knives, with durable plastic handles or a pair of blue silicon oven mitts. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"Try not to become a man of success, but rather try to become a man of value. " -- Albert Einstein
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MPC
Marginal Propensity to Consume
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