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REAL PRODUCTION: The market value of all production measured in constant prices, after adjusting for inflation. Real production is typically measured with real GDP.

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ELASTICITY ALTERNATIVES, SUPPLY

Five categories of the price elasticity of supply that reflect the entire range of the relative responsiveness of a change in quantity supplied to a change in price. These five alternatives--perfectly elastic, relatively elastic, unit elastic, relatively inelastic, and perfectly inelastic--are often illustrated by different supply curves. The price elasticity of demand is also reflected by five comparable alternatives.

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APLS

BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time watching infomercials wanting to buy either decorative garden figurines or a wall poster commemorating last Friday (you know why). Be on the lookout for telephone calls from long-lost relatives.
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Three-forths of the gold mined each year is used to manufacture jewelry.
"There is no twilight zone of honesty in business. A thing is right or it's wrong. It's black or it's white. "

-- John F. Dodge, automaker

ICC
International Chamber of Commerce
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