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A POSTERIORI: A conclusion reached through logical reasoning based on facts and observations about the real world. This notion is closely related to the scientific verification of hypotheses and the identification of principles. A similar sounding, but opposite term is a prior, which is a unverified presumption made before an analysis is undertaken. For example, in the study of economics of crime you might assume, a priori, that people are basically "good", and conclude, a posteriori, that people are more likely to commit crimes when the threat of capture and conviction is lower.

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ALLOCATION

The process of distributing resources for the production of goods and services, and of distributing goods and services for the satisfaction of wants and needs and human consumption. This allocation process is an essential part of an economy's effort to address the problem of scarcity.

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ORANGE REBELOON
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Today, you are likely to spend a great deal of time flipping through the yellow pages hoping to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?

Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
"Success doesn't come to you . . . you go to it "

-- Marva Collins, Educator

IBRD
International Bank for Reconstruction and Development
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