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DERIVED DEMAND: The notion that the demand for a factor or production, an input used in the production of a good, depends on the demand for the output being produced. This concept highlights the two key aspects of factor demand. One is that factor demand depends on the value of the good being produced. Inputs that produce more valuable outputs are themselves more highly valued. Two is that factor demand depends on the productivity of the input. Inputs that produce more output are themselves more highly valued.
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BLUE PLACIDOLA
Your compete MICRO*scope for today
You are the type of person who makes it look as though a sloth is moving at a fast pace. Family and friends come to you for advice because they don't have the time for you to come to them. Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius looking to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for the last item on a shelf. You should consider shopping at stores or businesses beginning with the letter R, but do not buy any products with a serial number or product code containing the number 835209. Your preferred shopping venue is department stores. Your special symbol is the at sign (@).
Is this You?
As a Blue Placidola, you are easy-going and even-tempered, calm and composed. For you, the hectic pace of a crowded shopping mall during the holiday rush is nothing, it's little more than a tranquil stroll in the park. Life is good. Life goes on. Why worry. You are a happy shopper and you seldom fret over trivial details of a market exchange, in part because you are astute enough to get moderately low prices and relatively good deals.
This isn't me! What am I?
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CHAIRMAN OF THE BOARD OF GOVERNORS, FEDERAL RESERVE SYSTEM The head of the Board of Governors of the Federal Reserve System, and thus the person who is effectively in charge of monetary policy for the United States. The Chairman, one of the 7 members of the Board of Governors, serves as Chairman for a 4-year term, and also is Chairman of the powerful Federal Open Market Committee--the Federal Reserve Committee that sets the course of monetary policy. Being positioned at the top of the central banking authority of the United States, the Chairman is one of the most powerful, if not THE most powerful, individuals in the economy.
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Getting Your Share Of FARM SUBSIDIESOur pedestrian excursion through the economy has helped me work up a ferocious appetite. I vote for a quick stop at the Mr. Market Super Food Discount Store where we can purchase a loaf of bread, assorted meats, and some cheese -- all for a luncheon tribute to the Earl of Sandwich. While a self-made tribute to the Earl is less expensive than any purchased from Manny Mustard's House of Sandwich, the ingredients from Mr. Market Super Food Discount Store still carry a hefty price tag. If you're hungry and have limited cash on hand, you might wonder whether food prices are higher than they need to be.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. " -- Napoleon Hill, author
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OMB
Office of Management and Budget
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