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VALUE IN USE: The satisfaction of wants and needs provided by the direct consumption of goods and services. Acquiring value from the use of goods and services is really the ultimate goal of economic activity. It is the final step in the production, allocation, and consumption activities that undertaken to address the fundamental problem of scarcity. Value in use should be contrasted with the similar phrase, value in exchange.
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NEAR MONIES Relatively liquid financial assets that are not used as the medium of exchange, but which can be quickly and easily converted to money with little or no loss of value. One group of near monies, best thought of as household savings, are added to M1 to obtain M2 and another group of near monies, best thought of as short-term institutional investments, are added to M2 to obtain M3.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store looking to buy either a how-to book on home decorating or a set of luggage with wheels. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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More money is spent on gardening than on any other hobby.
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"As is our confidence, so is our capacity. " -- William Hazlitt, essayist
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MMSE
Minimun Mean Square Error
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