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INFLEXIBLE PRICES: The proposition that some prices adjust slowly in response to market shortages or surpluses. This condition is most important for macroeconomic activity in the short run and short-run aggregate market analysis. In particular, inflexible (also termed rigid or sticky) prices are a key reason underlying the positive slope of the short-run aggregate supply curve. Prices tend to be the most inflexible in resource markets, especially labor markets, and the least inflexible in financial markets, with product markets falling somewhere in between.
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NATIONALIZATION The process in which a national government takes over the ownership of a private business or industry, usually, but not always, in conjunction with a major revolution that establishes a communist or socialist command economy.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction hoping to buy either software that won't crash your computer or any book written by Stephan King. Be on the lookout for celebrities who speak directly to you through your television.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"Genius is an infinite capacity for taking pains. " -- Jane Ellis Hopkins, writer
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HDI
Human Development Index
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