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EXCESS DEMAND: A disequilibrium condition in a competitive market in which the quantity demanded is greater than the quantity supplied, hence there's "extra" demand. Pointy-headed economists generally use the more technical term shortage rather than excess demand. The reason, of course, is that shortage has two syllables and excess demand has four. The time saved in pronouncing two syllables rather than four is a definite efficiency plus for the entire economy.
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PLANNED ECONOMY An economy, or economic system, that relies heavily on central planning by government to allocate resources and answer the three basic questions of allocation. A planned economy is often a type of command economy, in which government uses its coercive powers to implement central planning allocation decisions.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center looking to buy either a wall poster commemorating the first day of winter or blue cotton balls. Be on the lookout for gnomes hiding in cypress trees.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"I do not believe in a fate that will fall on us no matter what we do. I do believe in a fate that will fall on us if we do nothing. " -- Ronald Reagan, 40th US president
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SET
Securities Exchange of Thailand
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