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TRADING BLOC: A group of countries that are economically intertwined, share some common cultural background, are located close together, and coordinate their foreign trade policies. There are three trading blocs of note, North America, Europe, and Asia, although other portions of the globe aspire to this status. The North American bloc centers around the good old U. S. of A. with Canada and Mexico playing increasingly important roles. The European bloc contains most of the Western Europe with leading roles played by Germany, Britain, and France. Japan is the center of the Asian bloc that includes Korea, Taiwan, Hong Kong, Malaysia, and several others.
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RENT SEEKING The inclination of everyone who is alive and breathing to get as much extra income, wealth, profit, or satisfaction as they can. Rent, while technically considered the factor payment for the use of land resources, is also commonly used as a synonym for economic profit, for the acquisition of benefits above opportunity cost. Rent seeking is the entirely rational process of obtain as much "extra" as possible. In effect, rent seeking is nothing more than utility maximization. Efficiency problems can arise, however, when rent seeking is enhanced and enabled through market control, political influence, or actions of special interest groups.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either a toaster oven that has convection cooking or a birthday gift for your mother. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"God grants victory to perseverance. " -- Simon Bolivar, South American liberator
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BACS
Bankers Automated Clearing Services
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