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LOSS LEADER: Products sold below cost by a retail store in an attempt to attract buyers who are likely to buy other, more expensive, stuff. Stores are very fond of advertising and even selling popular products at very low prices. However, they hope that once customers have seen fit to enter their stores, then the suckers, er, customers will decide to buy other products that aren't so popular or so low priced. These popular, low-priced products are loss leaders. Sure the store loses profit on the products, but they make up these loses on other stuff.
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AGGREGATE SUPPLY DECREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by a decrease in aggregate supply, resulting in and illustrated by a leftward shift of the long-run aggregate supply curve. A decrease in aggregate supply in the long-run aggregate market results in an increase in the price level and a decrease in real production. The level of real production resulting from the shock is a smaller level of full-employment real production.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors hoping to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis, Supreme Court Justice
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SRO
Self-regulatory Organizations
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