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VALUE ADDED: The increase in the value of a good at each stage of the production process. The value that's being increased is specifically the ability of a good to satisfy wants and needs either directly as a consumption good or indirectly as a capital good. A good that provides greater satisfaction has greater value. In essence, the whole purpose of production is to transform raw materials and natural resources that have relatively little value into goods and services that have greater value.
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GAME THEORY An analysis that illustrates how the choices between two players affect the outcomes of a "game." Game theory is commonly used to explain the behavior and decision making of oligopolistic firms. It illustrates that cooperation, rather competition, between two "players" can lead to an outcome that is more beneficial to both players.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites looking to buy either a birthday gift for your grandfather or a pleather CD case. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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CPS
Current Population Survey (US)
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