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PPF: The abbreviation for production possibilities frontier, which is a curve that illustrates the production possibilities for the economy. A production possibilities frontier represents the boundary or frontier of the economy's production capabilities. That's why it's termed a production possibilities frontier (or PPF). As a frontier, it is the maximum production possible given existing (fixed) resources and technology. Producing on the curve means resources are fully employed, while producing inside the curve means resources are unemployed. The law of increasing opportunity cost is what gives the curve its distinctive convex shape.
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CAPTURE THEORY OF REGULATION The notion that a government agency established to regulate an industry for the benefit of society acts instead for the benefit of the industry. In effect, the government agency is "captured" by the industry it is regulating. The capture theory of regulation indicates that government regulator acts as the decision-making "head" of a now monopolized industry. This is achieved by a "rotating door" between the government agency and the industry, with members of the regulating agency being former and future employees of the industry. Rather than promoting efficiency, the regulating agency creates an inefficient allocation of resources.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time flipping through the yellow pages wanting to buy either a how-to book on the art of negotiation or a flower arrangement for your aunt. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Try not to become a man of success but rather to become a man of value. " -- Albert Einstein
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FCLT
Functional Central Limit Theorem
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