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HOMOGENEOUS GOOD: Goods that are either physically identical or at least viewed as identical by buyers. In particular, the producer of a good can not be identified from the good itself. This is a key assumption underlying the perfect competition market structure, and like other assumptions is only approximated in the real world. Agricultural products, metals, and energy goods come as close as any in the real world.
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ABILITY-TO-PAY PRINCIPLE A taxation principle stating that taxes should be based on the ability to pay taxes. The ability-to-pay principle works from the proposition that those who have the greatest income should pay the most taxes. The ability-to-pay principle is the only reasonable way to finance the provision of public goods such as national defense, public health, and environmental quality. This is one of two taxation principles. The other is the benefit principle, which states taxes should be based on the benefits received.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club looking to buy either a rechargeable battery for your computer or shoe laces for your snow boots. Be on the lookout for telephone calls from long-lost relatives.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"In order to create there must be a dynamic force, and what force is more potent than love." -- Igor Stravinsky, violinist
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