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EFFICIENT SEARCH, DETERMINANTS: Two factors that affect information search are (1) the amount of purchase and (2) frequency of purchase. Goods that are relatively expensive increase the potential benefit of search. For example, saving 10 percent on the purchase price of a house is significantly more than saving 10 percent on the price of bar of soap. Buyers are thus likely to undertake extensive search when buying a house, but not for soap. Goods that are purchased more frequently also don't require extensive search activities. Since buyers already know the "best places" to buy the "highest quality" products at the "lowest prices" for frequently purchased goods, little can be gained from search.
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KEYNESIAN ECONOMICS A theory of macroeconomics developed by John Maynard Keynes based on the proposition that aggregate demand is the primary source of business-cycle instability and the most important cause of recessions. Keynesian economics points to discretionary government policies, especially fiscal policy, as the primary means of stabilizing business cycles and tends to be favored by those on the liberal end of the political spectrum. The basic principles of Keynesian economics were developed by Keynes in his book, The General Theory of Employment, Interest and Money, published in 1936. This work launched the modern study of macroeconomics and served as a guide for both macroeconomic theory and macroeconomic policies for four decades. Although it fell out of favor in the 1980s, Keynesian principles remain important to modern macroeconomic theories, especially aggregate market (AS-AD) analysis.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either a wall poster commemorating the 2000 Olympics or a flower arrangement with a lot of roses for your grandmother. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"Whenever an individual or a business decides that success has been attained, progress stops. " -- Thomas Watson Jr., IBM executive
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IBF
International Banking Facility
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