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ACCUMULATION: The process of acquiring an item and adding that item to others previously acquired. In an economic context this most often refers to the accumulation of capital, as in the phrase "capital accumulation." However, it is also used in the context of consumer durable goods, financial assets, money, wealth, and a host of other "stock" variables. When applied to capital, the process of accumulation occurs through investment.
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CONSUMER SOVEREIGNTY The notion that consumers ultimately determine what goods and services are produced and how the economy's limited resources are used based on the purchases they make. Consumers thus reign over the economy as sovereign rulers.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for gnomes hiding in cypress trees.
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"The tragedy of life is not so much what men suffer, but rather what they miss. " -- Thomas Carlyle, Historian
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GSP
Gross State Product, Generalized System of Preferences
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