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PIE CHART: A circular graph divided into wedges that is commonly used to present the division of a total among parts. The circular "pie" represents the total value and each slice represents the portion distributed to each category. Pie charts are a handy way to present information, but are not well suited for more involved economic analysis.
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INCOME ELASTICITY OF DEMAND The relative response of a change in demand to a change in income. More specifically the income elasticity of demand is the percentage change in demand due to a percentage change in buyers' income. This notion of elasticity captures the buyers' income demand determinant. Three other notable elasticities are the price elasticity of demand, the price elasticity of supply, and the cross elasticity of demand.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club wanting to buy either one of those memory foam pillows or a remote controlled train set. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"Expect people to be better than they are; it helps them to become better. But don't be disappointed when they're not; it helps them to keep trying." -- Merry Browne, Author
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