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INEFFICIENCY: When the economy is NOT obtaining the highest level of consumer satisfaction from the available resources. Inefficiency occurs if it is possible to reallocate resources in a way that would generate greater satisfaction.
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INCOME CHANGE, UTILITY ANALYSIS A disruption of consumer equilibrium identified with utility analysis caused by changes in the buyers' income, which results in a change in the quantities of the goods consumed. The change in buyers' income alters the income constraint and forces a reevaluation of the rule of consumer equilibrium.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club hoping to buy either a replacement nozzle for your shower or a decorative windchime with plastic . Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?
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The average length of a "business lunch" is about 36 minutes.
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"The way to gain a good reputation is to endeavor to be what you desire to appear. " -- Socrates, philosopher
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WAPM
Weak Axiom of Profit Maximization
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