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HOMOGENEOUS GOOD: Goods that are either physically identical or at least viewed as identical by buyers. In particular, the producer of a good can not be identified from the good itself. This is a key assumption underlying the perfect competition market structure, and like other assumptions is only approximated in the real world. Agricultural products, metals, and energy goods come as close as any in the real world.
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INTERCEPT, CONSUMPTION LINE The intercept of the consumption line indicates autonomous consumption, consumption that does not depend on the level of income or production. This can be thought of as the baseline level of consumption that would be undertaken if income falls to zero. Autonomous consumption is affected by the consumption expenditures determinants, which cause a change in the intercept and a shift of the consumption line. The value of the intercept of the saving line is the negative of the value of the intercept of the saving line.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages seeking to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for telephone calls from former employers.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"What you get by achieving your goals is not as important as what you become by achieving your goals." -- Zig Ziglar
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MBO
Management Buy-Out
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