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MARKET-ORIENTED ECONOMY: A mixed economy that relies heavily on markets to answer the three basic questions of allocation, but with a modest amount of government involvement. While it is commonly termed capitalism, market-oriented economy is much more descriptive of how the economy is structure.
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SHORTAGE A condition in the market in which the quantity demanded is greater than the quantity supplied at the existing price. Because buyers are unable to buy as much of the good as they want, a shortage generally causes an increase in the market price, which then acts to restore equilibrium. A shortage, which also goes by the terms excess demand and sellers' market, is one of two basic states of disequilibrium for the market. The other is surplus.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet hoping to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for celebrities who speak directly to you through your television.
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In the early 1900s around 300 automobile companies operated in the United States.
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"If you don't know where you are going, any road will get you there." -- Lewis Carroll, writer
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AR(N)
A nth-order Autoregressive Process
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