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ADVERSE SELECTION: When a negotiation between two people with different amounts of information, that is, asymmetric information, restricts the quality of the good traded. This typically happens because the person with more information is able to negotiate a favorable exchange. This is frequently referred to as the "market for lemons."
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GOVERNMENT ENTERPRISES Government owned and operated productive activities that operate much like private sector firms. They hire resources and purchase other inputs, then produce goods sold through markets. In some cases, government enterprises compete directly with private firms. One common example of a government enterprise is a city-operated electrical generation and distribution system. In some cities, this service is provided by private, for-profit, businesses. In other cities it is provided by government. Other examples of government enterprises include urban transportation systems, parks and recreational facilities, and communication systems.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club seeking to buy either a how-to book on home remodeling or a tall storage cabinet with five shelves and a secure lock. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"No amount of business school training or work experience can teach what is ultimately a matter of personal character. " -- Truett Cathy, Chick-fil-A Inc. founder
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FILO
First In Last Out
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