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ABSOLUTE POVERTY LEVEL: The amount of income a person or family needs to purchase an absolute amount of the basic necessities of life. These basic necessities are identified in terms of calories of food, BTUs of energy, square feet of living space, etc. The problem with the absolute poverty level is that there really are no absolutes when in comes to consuming goods. You can consume a given poverty level of calories eating relatively expensive steak, relatively inexpensive pasta, or garbage from a restaurant dumpster. The income needed to acquire each of these calorie "minimums" vary greatly. That's why some prefer a relative poverty level.
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SCARCE A condition in which a given good or resource is limited relative to its desired uses. This is a special condition of the general condition of scarcity. A scarce good or resource is typically exchanged through markets and carries a positive price.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages trying to buy either a genuine fake plastic Tiffany lamp or a microwave over that won't burn your popcorn. Be on the lookout for the last item on a shelf.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"Managing intellectual assets has become the single most important task of business. " -- Thomas Stewart, author
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IBEX-35
Stock Index (Spain)
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