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NASH EQUILIBRIUM: A concept from Game Theory which establishes that a set of strategies followed by economic agents within a game is in equilibrium if, holding the strategies of all other economic agents constant, no economic agent can obtain a higher payoff by choosing a different strategy. For example, when firms operate within an oligopoly, once a Nash equilibrium has been reached, none of them will want to change their strategy because by doing it they cannot obtain a higher profit.
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ENTREPRENEURSHIP A special sort of human effort that takes on the risk of bringing labor, capital, and land together and organizing production. This is one of four basic categories of resources, or factors of production. The other three are labor, capital, and land.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a flea market seeking to buy either a replacement nozzle for your shower or a decorative windchime with plastic . 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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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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"He who truly knows has no occasion to shout. " -- Leonardo da Vinci, painter, sculptor, architect, engineer
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TI
Taxable Income
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