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INEFFICIENCY: When the economy is NOT obtaining the highest level of consumer satisfaction from the available resources. Inefficiency occurs if it is possible to reallocate resources in a way that would generate greater satisfaction.
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COMPARATIVE STATICS The technique of comparing the equilibrium resulting from a change in a determinant, or shock to a model, with the equilibrium that existed prior to the change. Comparative statics is the primary analytical technique used in the study of economics.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a coffee cup commemorating the moon landing or a how-to book on surfing the Internet. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"It has been my philosophy of life that difficulties vanish when faced boldly. " -- Isaac Asimov
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APR
Annual Percentage Rate
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