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RATIONING: The distribution or allocation of a limited commodity, usually accomplished based on a standard or criterion. The two primary methods of rationing are markets and governments. Rationing is needed due to the scarcity problem. Because wants and needs are unlimited, but resources are limited, available commodities must be rationed out to competing uses.
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THREE-SECTOR INJECTIONS-LEAKAGES MODEL A variation of the Keynesian injections-leakages model that includes the three domestic sectors--the household sector, the business sector, and the government sector. This model provides an alternative to the three-sector aggregate expenditures (Keynesian cross) analysis of government stabilization policies, especially how fiscal policy changes in government purchases and taxes can be used to close recessionary gaps and inflationary gaps. Equilibrium is identified as the intersection between the S + T line and the I + G line. Two related variations are the two-sector injections-leakages model and the four-sector injections-leakages model.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store hoping to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for rusty deck screws.
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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BOP
Balance of Payments
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