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WEALTH DISTRIBUTION: The manner in which wealth is divided among the members of the economy. A perfectly equal wealth distribution would mean everyone in the country has exactly the same wealth. In reality, wealth is unequally distributed. A few people have a great deal of wealth and most others have less. Any well-functioning economy, that's doing a pretty good job of satisfying consumer wants and needs, will have some degree of inequality in the distribution of wealth. This occurs because some people have done a good job of producing what people want, and thus grow wealthy. However, wealth tends to perpetuate itself, over and above what may be justified by valuable production. Along with wealth comes market control, political power, and the ability to accumulate more wealth at the expense of others.
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MARGINAL UTILITY AND DEMAND An explanation of the law of demand and the negatively-sloped demand curve based on utility analysis and the law of diminishing marginal utility. The law of diminishing marginal utility states that marginal utility declines as consumption increases. Because demand price depends on the marginal utility obtained from a good, price also declines as consumption increases, meaning price and quantity demanded are inversely related, which is the law of demand.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either throw pillows for your living room sofa or a hepa filter for your furnace. Be on the lookout for defective microphones.
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The average bank teller loses about $250 every year.
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"Nothing is a waste of time if you use the experience wisely. " -- Auguste Rodin, Sculptor
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DRR
Discounted Rate of Return
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