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GOOD: When used without an adjective modifier (like "final" good or "intermediate" good), this generically means a physical, tangible product used to satisfy people's wants and needs . This term good should be contrasted with the term service, which captures the intangible satisfaction of wants and needs. As such, you will frequently see the plural combination of these two phrases together "goods and services" to indicate the wide assortment of economic goods produced using the economy's scarce resources. As you might imagine this general notion of wants and needs satisfying goods and services pops up throughout the study of economics.
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LAW OF DEMAND The inverse relationship between demand price and the quantity demanded, assuming ceteris paribus factors are held constant. This fundamental economic principle indicates that a decrease the price of a commodity results in an increase in the quantity of the commodity that buyers are willing and able to purchase in a given period of time, if other factors are held constant. The law of demand is one of the most important principles found in the study of economics.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store trying to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for door-to-door salesmen.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. " -- Muhammad Ali
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M3
M2 plus investment types of near monies, including large denomination certificates of deposits, institutional money market deposits, and longer term repurchase agreements and Eurodollars
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