|
|
ECONOMIC EFFICIENCY: Obtaining the most consumer satisfaction from available resources. This is what most economists mean when the term efficiency arises. Economic efficiency means our economy is doing the best job possible of satisfying unlimited wants and needs with limited resources--that is, of addressing the problem of scarcity.
Visit the GLOSS*arama
|
|
|
|
|
INFERIOR GOOD A good for which a change in income causes an opposite change in demand. That is, an increase in income causes a decrease in demand and a decrease in income causes an increase in demand. The income elasticity of demand for an inferior good is negative. An inferior good is one of two alternatives falling within the buyers' income demand determinant. The other is a normal good.
Complete Entry | Visit the WEB*pedia |
|
|
YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale hoping to buy either a genuine down-filled comforter or a 200-foot blue garden hose. Be on the lookout for letters from the Internal Revenue Service.
Your Complete Scope
This isn't me! What am I?
|
|
|
Natural gas has no odor. The smell is added artificially so that leaks can be detected.
|
|
|
"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. " -- Napoleon Hill, author
|
|
CARIFTA
Caribbean Free Trade Association
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
