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RENEWABLE RESOURCE: A natural resource that can be increased by either automatically through the natural forces of the environment or through actions undertaken by people. The quantities of renewable resources and not fixed and thus the amounts available for use tomorrow can be increased. Efficient use of renewable resources requires a balance between the rate of use and the rate of renewal. It is possible to efficiently use renewable resources indefinitely. However, such resources can also be exhausted if the rate of use exceeds the rate of renewal. Common examples of renewable resources are plant life, animal life, clean air, and clean water.
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BALANCE ON MERCHANDISE TRADE A subset of the balance of payments current account that records the difference between the payments received for exports of goods to other nations and the payments made for the imports of goods from other nations. The goods included are physical or tangible goods, but not intangible services. The balance on merchandise trade is thus appropriately divided into merchandise exported and merchandise imported. Two other subsets of the current account include the balance on services and unilateral transfers. The commonly termed balance of trade is the sum of the balance on merchandise trade and the balance on services.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction seeking to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"Be civil to all; sociable to many; familiar with few; friend to one; enemy to none. " -- Benjamin Franklin, statesman
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LBO
Leveraged Buyout
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