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ALLOCATIVE EFFICIENCY: Obtaining the most consumer satisfaction from available resources. Allocative efficiency means that our economy is doing the best job possible of satisfying unlimited wants and needs with limited resources -- that is, of addressing the problem of scarcity.

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SATISFACTION

The process of successfully fulfilling wants and needs. This also goes by the technical economic term utility, and is essentially synonymous with more common words, such as fulfillment, well-being, and to some degree prosperity or happiness.

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PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time at an auction seeking to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for rusty deck screws.
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This isn't me! What am I?

Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
"It is not the brains that matter most, but that which guides them ‚ the character, the heart, the generous qualities, progressive ideas. "

-- Fyodor Dostoyevsky - Writer

EFT
Electronic Funds Transfer
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