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BRAND LOYALTY: A positive attitude toward and preference for purchasing a specific product or service in the market place. It is the desired goal of all businesses to create brand loyalty from members of their target markets. Once brand loyalty has been created it is more difficult to persuade customers to switch to an alternative brand. Some consumers will only purchase Mountain Dew, nothing else will do.
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EQUILIBRIUM, SHORT-RUN AGGREGATE MARKET The state of equilibrium that exists in the short-run aggregate market when real aggregate expenditures are equal to full-employment real production with no imbalances to induce changes in the price level or real production. The opposing forces of aggregate demand (the buyers) and short-run aggregate supply (the sellers) exactly offset each other. At the existing price level, the four macroeconomic sectors (household, business, government, and foreign) purchase all of the real production that they seek and producers sell all of the real production that they have.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area trying to buy either an ink cartridge for your printer or a rechargeable battery for your camera. Be on the lookout for strangers with large satchels of used undergarments.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle." -- Albert Einstein
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FOMC
Federal Open Market Committee
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