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EQUILIBRIUM, AGGREGATE MARKET: The state of the aggregate market in which real aggregate expenditures are equal to real production, which means that the price level, aggregate expenditures, and/or real production do not change. In other words, the opposing forces of aggregate demand (the buyers) and aggregate supply (the sellers) are in balance.
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RISK AVERSION A preference for risk in which a person prefers guaranteed or certain income over risky income. Risk aversion arises due to decreasing marginal utility of income. A risk averse person prefers to avoid risk and is willing to pay to do so, often through the purchase of insurance. This is one of three risk preferences. The other two are risk neutrality and risk loving.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area seeking to buy either storage boxes for your summer clothes or 500 feet of coaxial cable. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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Lombard Street is London's equivalent of New York's Wall Street.
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"There is at least one point in the history of any company when you have to change dramatically to rise to the next level of performance. Miss that moment, and you start to decline. " -- Andy Grove, Intel Corp. chairman
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ASEAN
Association of South East Asian Nations
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