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REGIONAL ECONOMICS: The economic study of regions based on the consideration of space, transportation cost, and location in production and consumption decisions. Regional economics studies a wide variety of topics, including the migration of labor, the macroeconomic activity in cities and states, and the location choices of firms. A closely related area of study that focuses on economic activity within and between cities is termed urban economics.
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PERFECT COMPETITION, CHARACTERISTICS The four key characteristics of perfect competition are: (1) a large number of small firms, (2) identical products sold by all firms, (3) perfect resource mobility or the freedom of entry into and exit out of the industry, and (4) perfect knowledge of prices and technology.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a computer that can play video games and burn DVDs or a black duffle bag with velcro closures. Be on the lookout for broken fingernail clippers.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"It is not because things are difficult that we do not dare; it is because we do not dare that they are difficult. " -- Seneca, statesman, dramatist, philosopher
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IRPP
Institute for Research on Public Policy
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