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SCARCE GOOD: A resource with an available quantity less than its desired use. Scarce resources are also called factors of production. Scarce goods are also termed economic goods. Scarce resources are used to produce scarce goods. Like the more general society-wide condition of scarcity, a given resource is scarce because it has a limited availability in combination with a greater (potentially unlimited) productive use. It's both of these that make it scarce. In other words, even though an item is quite limited it will not be a scarce resource if it has few if any uses (think pocket lint and free good).
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OWNERSHIP LIABILITY The extent to which the owners of a business are liable for the debts of the company. The two basic liability alternatives are unlimited liability, which has no restrictions on ownership liability, and limited liability, which does have restrictions. Ownership liability is one characteristic separating legal business organizations. Proprietorships and partnerships have unlimited liability. Corporations have limited liability.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either a box of multi-colored, plastic paper clips or several orange mixing bowls. Be on the lookout for neighborhood pets, especially belligerent parrots.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"If anything terrifies me, I must try to conquer it. " -- Francis Charles Chichester, yachtsman, aviator
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BEA
Bureau of Economic Analisys
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