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DISCRETIONARY INCOME: After-tax income over which a person (or the entire household sector) has more or less complete discretionary control, which can be then used for either consumption or saving. Discretionary income is most commonly measured at the macroeconomic level by disposable income.
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SUBSTITUTE GOOD In general, one of two (or more) goods that are related in an either/or fashion. In terms of demand, substitute goods are those that provide the same basic satisfaction of a want or need when consumed. In terms of supply, substitute goods are those that use the same resource for production in an exclusionary manner. A substitute good is one of two ways that goods are related. The other is a complement good.
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Shopping Around For RETAIL PRICESIt's time for another one of our frequent stops at Mr. Market Super Food Discount Store, this time to check out the story behind retail prices. As consumers, we spend a large fraction of our nonworking, nonsleeping lives wandering grocery stores aisles, searching clothing store racks, and surveying department store displays for the right product at the right price. How do we know, like the name of the long-running game show, if "The Price is Right?" How are retail prices set and do they really tell us the value of a product?
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"The man who does not read good books has no advantage over the man who cannot read them. " -- Mark Twain
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APR
Annual Percentage Rate
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