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RISK AVERSE: A person who values a certain income more than an equal amount of income that involves risk or uncertainty. To illustrate, let's say that you're given two options--(A) a guaranteed $1,000 or (b) a 50-50 chance of getting either $500 or $1,500. If you chose option A, then you're risk averse. Both options give you the same "expected" values. In other words, if you select option B a few hundred times, then your average amount over those few hundred times is $1,000.
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DEMAND INCREASE AND SUPPLY DECREASE A simultaneous increase in the willingness and ability of buyers to purchase a good at the existing price, illustrated by a rightward shift of the demand curve, and a decrease in the willingness and ability of sellers to sell a good at the existing price, illustrated by a leftward shift of the supply curve. When combined, both shifts result in an indeterminant change in equilibrium quantity and an increase in equilibrium price.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages wanting to buy either a weathervane with a horse on top or a case of blank recordable DVDs. Be on the lookout for slow moving vehicles with darkened windows.
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This isn't me! What am I?
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Two and a half gallons of oil are needed to produce one automobile tire.
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"A man is not finished when he is defeated. He is finished when he quits. " -- President Richard Nixon
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IADB
Inter-American Development Bank
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