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HOUSEHOLD PRODUCTION: The creation of satisfaction using both goods purchased in markets and the uncompensated efforts of consumers. In other words, while you might buy stuff from the store, you often need to do something to it before it's ready to use. Probably the most common example is cooking a meal. You buy some pasta noodles, a jar of alfredo sauce, and a frozen package of bite-sized shrimp at the store, then use a little bit of your time and effort to prepare a tasty Italian meal.
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DEMAND DETERMINANTS Five ceteris paribus factors that affect demand, but which are assumed constant when a demand curve is constructed. They are buyers' income, buyers' preferences, other prices, buyers' expectations, and number of buyers. Changes in the demand determinants cause shifts of the demand curve and disruptions of the market.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a how-to book on home repairs or a large, stuffed kitty cat. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"We tend to forget that happiness doesn't come as a result of getting something we don't have, but rather of recognizing and appreciating what we do have." -- Fredrick Koeing
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NSF
National Science Foundation
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